A penthouse at Swire’s Opus One in Hong Kong sold for HK$509.6 mil
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
HK’s Swire Sells Asia’s Priciest Apartment for $66M
Swire Properties sold the last unit at Opus Hong Kong in Mid-Levels on Tuesday for HK$509.6 million ($65.7 million), making it the most expensive apartment transaction in Asia.
The sale came despite growing warnings by investment bank analysts that Hong Kong is heading for a home price correction next year in the face on an anticipated interest rate increase and slowing economy. Read more>>
SG’s CapitaLand Confident in Prospects for Its $15B in China Assets
A slowdown in Chinese economic growth has not fazed Singapore property developer CapitaLand, which expects record home sales for its mainland projects this year.
Tenants at its malls in China have been notching up improved sales of about 9 per cent year on year. Read more>>
China Vanke Hopes for Robot Rescue as Wages Rise
China Vanke , the biggest property developer by sales in the world’s most populous country, is recruiting robots to sweep floors and guard its properties to address a labour shortage and rising wage bills.
As Chinese developers struggle with lacklustre sales and tighter industry margins, China Vanke, like many, is looking to premium concierge services to attract customers, and it said robots would provide some of those services. Read more>>
Shanghai’s Greenland Group Goes for Saipan Resort
Bridge Capital LLC and China’s second biggest developer, Greenland Group, are finalizing hotel development negotiations for Plumeria Resort this week in China but no contract has been signed as yet.
According to chief executive officer Philip James of Invest CNMI LLC, which is the EB-5 investor program of Bridge Capital LLC, about 60 EB-5 investors are being sought to invest $30 million to redevelop the abandoned Plumeria Resort, with the Geenland Group as the hotel’s operator. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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