Here is a list of the day’s latest China real estate news collected from around the web:
Residential property prices in Asia look set for another solid year of growth with Jakarta and Bangkok tipped to be the star performers.
International property expert Knight Frank has researched major cities across Asia Pacific, a region that continues to benefit from strong economic growth and rapid urbanisation. It predicts that the Indonesian capital of Jakarta will see property prices rise by up to 20 per cent in 2013, following strong appreciation last year. Thai capital Bangkok is also being earmarked for healthy gains – between 10 per cent and 20 per cent.
One of China’s biggest property developers and a unit of state-owned energy giant China Petrochemical Corp. are planning Hong Kong listings, signaling fresh interest in a market that last year fell from the top of the global rankings for new listings for the first time in four years.
Shenzhen-listed developer China Vanke Co. will become the latest major Chinese company to shift its listing from the illiquid B-share market on the mainland to Hong Kong, a person with direct knowledge of the deal said Tuesday.
Lower-tier mainland cities, which have served as the last haven for developers in the past two years amid tough property curbing measures, have turned into ticking time bombs due to high inventory and weak demand.
This has prompted developers to shift focus back to their big-city fortresses – where noticeable sales rebounds were seen in the second half of last year.
Spain’s Meliá Hotels International is expanding its footprint in the rapidly growing Chinese market through an agreement with local real estate giant and nascent hotel company Greenland Group in a deal for the two companies to operate hotels in each other’s home markets.
Under the agreement, Greenland will own Meliá-flagged properties in China while the Chinese company will manage hotels owned by the Spanish partner in Europe.