Here is a list of the day’s latest China real estate news collected from around the web:
- Li Ka-Shing’s Horizon delays IPO premarketing
Billionaire Li Ka-shing’s property firm Horizon Hospitality (Holdings), a unit of Cheung Kong Holdings Ltd. , is delaying the premarketing for its up to US$800 million Hong Kong initial public offering, people with knowledge of the deal said Monday.
The company, which has four serviced-apartment buildings in Hong Kong, had scheduled to gauge investors’ interest in the offering Monday. It isn’t clear why the company decided to postpone.
- Mainland property developers feel heat from rail builders
There are two new kids on the property block on the mainland, namely the nation’s big railway builders, China Railway Group and China Railway Construction Corporation (CRCC), which are fast becoming major property developers that are likely to overtake leading mainland and Hong Kong players in the near future.
On a recent trip to Xian, I saw several blocks of flats built and owned by China Railway Group, evidence of a rapidly growing real estate business that generated revenue for the group of 17.14 billion yuan (HK$21.3 billion) in 2011, an increase of 43.4 per cent from the previous year’s property contribution.
- China new-home prices flat during October
Average property prices in 70 Chinese cities in a government survey were essentially unchanged in October from September for a second straight month. The data indicate prices are stabilizing after a rebound since June had raised concerns further measures may be taken to cool the sector.
Data released Sunday by the National Bureau of Statistics showed prices were flat in October from September despite an increase in housing transactions in recent months.