Here is a list of the day’s latest China real estate news collected from around the web:
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Brookfield Property Partners Acquires Logistics Developer Gazeley
Brookfield Property Partners today announced the acquisition of logistics developer EZW Gazeley Limited from Economic Zones World. Brookfield Property Partners will own an approximate 30% interest in Gazeley.
Brookfield Property Partners, L.P. (NYSE: BPY, TSX: BPY.UN) made the acquisition along with its institutional partners through a fund managed by an affiliate of Brookfield Asset Management, Inc. (NYSE: BAM, TSX: BAM.A) the amount paid for the acquisition was not immediately disclosed by the company.”
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US World Trade Centre Developer to Invest in Shenzhen Project
Fresh from his recent announcement of securing financing for a major residential and hotel building in downtown Manhattan last month, in which Four Seasons Hotels will be the hotel component, Larry Silverstein of Silverstein Properties, and the developer of New York’s World Trade Centre, has made a new announcement today about international expansion.
The company currently is focused on building mixed-used development including office, residential and retail properties in the Qianhai district of China’s southern city of Shenzhen, the chairman of New York-based Silverstein Properties Inc. said today.
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China’s industrial production expands 9.2 pct in May
China’s industrial value-added output rose 9.2 percent year on year in May, down from April’s 9.3-percent increase, the National Bureau of Statistics said Sunday.
Value-added industrial output measures the final output value of industrial production, or the value of gross industrial output minus intermediate input, such as raw materials and labor costs.
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China’s lowering CPI means weaker economy
China’s annual consumer inflation slowed in May, according to the latest data released on Sunday, suggesting that the world’s second-largest economy could be weaker than expected.
The National Bureau of Statistics said China’s consumer inflation surged 2.1 percent, 0.3 percentage points lower than one month ago or the lowest in three months, while producer prices fell 2.9 percent from a year earlier, the lowest since September.
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Chinese Consumers Less Likely to Up Spending This Year, BCG Says
Consumers in China said they are less likely to increase spending this year as the economic environment becomes more uncertain, according to a Boston Consulting Group survey.
In particular, the middle-income and affluent consumers in smaller Chinese cities beyond Shanghai and Beijing are more inclined to hold back on additional purchases, preferring instead to save for future family spending or car and property purchases, said Boston Consulting, which polled a thousand consumers in 12 cities on the mainland in April. -
Oriental City Mansion Begins Leasing Offices in Pudong
Oriental City Mansion, a grade-A office building in Lujiazui Finance and Trade District, has started to offer space for sale and lease.
The building is located at the junction of Pudong Avenue and Beiyangjing Road, and boasts a floor area of 34.9 thousand square meters, with 21 floors above ground level and two floors below ground level.
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