Here is a list of the day’s latest China real estate news collected from around the web:
- CapitaMalls Asia Sets Up $1 Billion Private Fund To Invest in China Retail Properties
The CapitaMalls China Development Fund III has a life of eight years and will hold as seed assets three of CapitaMalls Asia’s shopping malls that are under development, the unit of real-estate group CapitaLand Ltd. (C31.SG) said in a statement. CapitaMalls Asia holds a 50% stake in the fund–the largest the company has set up to date–while institutional investors from Asia and North America hold the remainder, it added.
- China Home Prices Post First Gain in 10 Months, SouFun Says
China’s new home prices rose for the first time in 10 months as the government eased its monetary policies to bolster the economy, according to SouFun Holdings Ltd. (SFUN), the nation’s biggest real estate website owner. Home prices increased 0.1 percent from May to 8,688 yuan ($1,367) per square meter (10.76 square feet), SouFun said in an e-mailed statement today, based on its survey of 100 cities.
- Yuan Touches One-Month High After Manufacturing Data Tops Survey
The yuan rose to a one-month high after manufacturing data exceeded economists’ forecasts, stoking speculation the currency may rebound after its worst quarter since a dollar peg ended in 2005. The People’s Bank of China set its daily fixing 0.16 percent stronger at 6.3146 per dollar, the highest level in a week.
- KONE wins an order for THE HUB in Shanghai
KONE has been awarded an order to deliver 67 eco-efficient elevators and 82 escalators to THE HUB in Shanghai. THE HUB, developed by Shui On Land, is designed to be a new landmark as well as a business and lifestyle hub serving the entire Hongqiao commercial zone and the 75 million people who live within the high speed railway’s one-hour catchment.