Investors like Shanghai’s Greenland Group may be finding it harder to put capital into Aussie projects
China’s credit controls have been driving up prices for its domestic real estate, but might start having the opposite effect on the Australian market, according to a story in today’s headlines. Also in the news, Evergrande Real Estate continues to snap up projects without fear or favour, and a Hong Kong investor picks up a Melbourne car park. Read on for all these stories and more.
China Capital Controls Ending Aussie Investment Wave
The efforts by Chinese authorities to control credit growth have contributed to a 60 per cent fall in foreign investment in Australian real estate, Treasury believes.
Commenting after Moody’s Investor Services stripped China of its “AA” credit rating, lowering it to a single “A”, Treasury secretary John Fraser said China was maintaining a growth rate of 6.5 per cent by making increasingly intense use of credit. Read more>>
Evergrande Buying RMB5.4B in Assets From Shenzhen Investment
Shenzhen Investment Ltd said it would sell four property and hotel assets to China Evergrande Group for 5.42 billion yuan ($788 million), walking away from projects in third and fourth-tier cities to enhance its financial position.
The Chinese developer said it would book a HK$2.9 billion gain from the sale to Evergrande’s Hengda Real Estate Group. Read more>>
HK Realway Buying Melbourne Site for A$120M
Property tycoon and horse racing identity Lloyd Williams has more than doubled his money with the sale of a 16-storey carpark in Melbourne’s Flinders Street to a Hong Kong private company for about $120 million.
The multi-storey car park at 114 Flinders Street is the first Melbourne asset acquired by HK Realway, a family run Hong Kong property investment business headed by Ling Wong and Yun Choi. Read more>>
Mainland Developers Skip Another Site Auction in Hong Kong
Chinese companies continue to shy away from Hong Kong’s land market with just one mainland backed company known to have submitted a bid for a residential site in Yuen Long.
MTR Corp said eight developers had submitted bids for the parcel of land at Kam Sheung Road Station on the West Rail line before the tender closed at 2pm on Thursday. Read more>>
CapitaLand, Mapletree Top the Ranks of APAC Fund Managers
Singapore-based property groups CapitaLand and Mapletree Investments have once again topped overall rankings in the list of Asia Pacific managers with the highest total real estate assets under management (AUM), according to the ANREV/INREV/NCREIF Fund Manager Survey 2017.
For the second time, the survey has a global outreach, with 177 fund managers globally completing the questionnaire. The majority of fund managers were from Europe (90) followed by those domiciled in Asia Pacific (52) and North America (35). Read more>>
Shui On’s Vincent Lo Speaks Out on Battle for Family Trust
Shui On Land chairman Vincent Lo Hong-shui says he has not seen his 98-year-old mother Lo To Lee-kwan for more than a month, and believes she is being influenced by some of his brothers.
Lo, the fourth son, commented on the dispute polarizing his family – which founded Great Eagle Holdings – for the first time after yesterday’s Shui On annual general meeting at Regal Hotel. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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