Here is a list of the day’s latest China real estate news collected from around the web:
Remember those ghost malls in China? Sad, massive buildings like the New South China Mall in the southern factory town of Dongguan – the world’s largest by leasable area when it opened in 2005 – that just sit there empty for lack of tenants and customers?
According to new research on shopping centres by Knight Frank, the property consultancy, the ghost mall syndrome is spreading: overall vacancy rates in major cities have gone up this year.
Mapletree Investments plans to raise up to US$1.5 billion (S$1.8 billion) by listing some of its assets in China through an initial public offering in Singapore next year, a person with knowledge of the deal said yesterday, in the latest float of real estate assets by the company owned by investment giant Temasek Holdings.
The planned IPO is set to be the largest in Singapore since Hutchison Port Holdings Trust’s US$5.5 billion IPO in March this year and will strengthen the Republic’s position as a hub for real estate investment trust listings in the region.
Shanghai-based developer CIFI Group will kick off its HK$2.1 billion initial public offering next week.
The IPO makes CIFI the second-largest mainland property firm to list locally this year after Kai Shi China Holdings (1281) debuted in January.
China’s non-manufacturing activity rose in October compared to that in the previous month, decreasing the concerns over the slowdown in the economic growth of the country.
According to the data released Saturday by the National Bureau of Statistics and China Federation of Logistics and Purchasing, the non-manufacturing Purchasing Managers’ Index (PMI) rose to 55.5 in October, up from 53.7 in September.