Here is a list of the day’s latest China real estate news collected from around the web:
CBRE Global Investors, which manages more than $90 billion of property assets, is seeking to invest in offices in China as foreign companies expand in the country, even as rents fell in some cities amid oversupply.
CBRE Global is looking at office projects in Beijing, Shanghai, Guangzhou, and in as many as 10 second-tier cities, including Chengdu, Wuhan, and Suzhou, the fund’s Greater China Country Manager Richard van den Berg said at a conference in Hong Kong yesterday.
New York developer Gary Barnett has nearly completed construction on one of the most expensive condominium towers in history. Now he is looking to China to back an even larger and taller tower a block away.
Mr. Barnett, founder of Extell Development Co., is in early talks with the state-owned Export-Import Bank of China for a loan of about $1 billion to build the soaring condo and hotel skyscraper just south of Manhattan’s Central Park, according to people familiar with the discussions.
China’s Wanda Group, which owns AMC Theaters, said it will invest $1 billion to build a five-star hotel in New York City, becoming a new addition to the recent Chinese investment in the Big Apple’s real-estate market.
Wang Jianlin, chairman of the Dalian-based commercial real estate developer, told Reuters in Beijing that the company is in talks with potential partners for construction of a Wanda hotel and an adjacent apartment building in New York.
With too few farms in China to feed a burgeoning population, Chinese immigrants have started buying up agricultural lands in Canada and shipping produce to Asia.
But with new investment comes fears that a generation of young Canadian would-be farmers are being squeezed out of the market by newcomers that some suspect are being bankrolled by the government in Beijing.
Langham Hospitality Group announced it will manage the first new luxury city centre hotel under the Langham Place brand in Haining, a bustling metropolis in the Zhejiang coastal province. The property, which is being developed by Hong Kong-based Mingly Real Estate Corporation, is scheduled to open in 2014.
Featuring 266 spacious guest rooms and suites, Langham Place, Haining will be part of an integrated complex comprising a retail shopping centre, commercial offices and residential apartments. Says Langham Hospitality Group’s Chief Executive Officer Brett Butcher, “we are delighted to introduce the Langham Place brand to the rapidly growing city of Haining. Together with the developer Mingly Corporation, we will create a luxury hotel that will be the centerpiece of this exciting new urban development.”