Here is a list of the day’s latest China real estate news collected from around the web:
- Chinese developer Sunac spends $530 mln to team with Greentown
Sunac China Holdings said on Friday that it plans to pay 3.37 billion yuan ($529.52 million) in cash to buy stakes in property projects from debt-heavy luxury home builder Greentown China. Sunac said in a filing to the Hong Kong stock exchange that it was spending the money to take a 50 percent interest in a joint venture with Greentown.
- CapitaLand Says CEO and President Liew to Retire in One Year
CapitaLand Ltd. (CAPL), Southeast Asia’s biggest developer, said President and Chief Executive Officer Leong Mun Liew will retire in a year from the company he helped create almost 12 years ago.
CapitaLand will review succession candidates, it said in a statement to the Singapore stock exchange today.
- Chairman’s Degree Sparked Citron Evergrande Probe
An honorary doctorate from the University of West Alabama, a small college 230 miles north of New Orleans with 2300 on-campus students, was what piqued Citron Research’s interest in one of China’s largest real estate developers and culminated on Thursday in allegations of corporate and accounting fraud.
- Pressure Builds on China to Allow More Home Buying
Will China’s officials try to reverse a slowing economy by easing up on tight property ownership policies? That is the question analysts, investors, and household buyers are all now mulling. And it has a new urgency as Beijing’s economic-boosting efforts to date are having limited effect.
- More China Retail Woes: Hypermarket Chain C.P. Lotus Warns Of 1st-Half Loss
In the latest sign of trouble for retailers in China, C.P. Lotus, a hypermarket chain in the country led by the billionaire family of Thai businessman Dhanin Chearavanont, said on Friday that it expects to report a loss for the first six months of 2012.