A project on Melbourne’s Bank Street would add 180 apartments to the city
China’s stock markets had their shortest trading day in history today, which should leave investors more time to ponder overseas opportunities such as the three Melbourne acquisitions that happened over the Christmas holidays. Also, a Chinese investor plans to buck the mainland retail trend with 100 new store openings, and much more. Read on for details.
Chinese Developers Pay $39.4M for 3 Melbourne Sites
Growing concerns of an oversupply in Melbourne’s new apartment market did nothing to dent the confidence of Chinese developers, who splashed out $56 million on three development sites, with the capacity for more than 800 apartments, in the Christmas holidays.
In the biggest of the three deals, a Chinese developer from Shandong Province, paid just over $28 million for a 6000 square metre consolidated block of land in Oakleigh, 15 kilometres south east of the Melbourne city centre, close to Chadstone Shopping Centre. Read more>>
China Markets Close Early for 2nd Time This Week as Shares Tumble
China’s stock market tumbled and scored its shortest trading day in its 25-year history on Thursday, as Beijing’s growing tolerance of a weaker currency intensified concerns about capital flight and the health of the world’s No. 2 economy.
The stock market stopped trading about 30 minutes after opening, as a newly installed mechanism to limit volatility kicked in for the second time this week. Read more>>
Crabtree & Evelyn Plans 100 New Mainland Outlets
Nan Hai plans to bring Crabtree & Evelyn to mainland China following the personal care firm’s takeover for $175 million in mid-December – the largest foreign cosmetic deal to date involving a Chinese buyer.
The Hong Kong-listed Chinese investment company told FinanceAsia that it plans to open at least 100 retail outlets across the mainland over the next two to three years, starting with tier-1 and tier-2 cities. Read more>>
KIC and Brookfield Team Up to Buy German Commercial Project for $1.4B
Korea’s sovereign wealth fund Korea Investment Corp (KIC) has joined hands with Canadian alternative asset manager Brookfield Asset Management to acquire a commercial and retail property project in Germany from real estate investment firm Savills for about 1.3 billion euros (US$1.41 billion).
According to a report from the Korea Economic Daily, KIC is said to have taken an 18% stake in the project and it has planned to invest about 300 billion won (US$252 million) in the project. Read more>>
Investors Snap Up Nearly $2B in Developer Bonds This Week
Two borrowers from opposite ends of the Greater China credit spectrum accessed the international bond markets on Wednesday, in a first test of investor sentiment since the US Federal Reserve lifted interest rates in December.
Issues for Hong Kong stalwart Swire Properties and debut borrower Jiangsu NewHeadLine Development (Jiangsu NHL) both caught a positive market window, benefiting from a re-bound in Chinese equities markets over the course of the trading day. Read more>>
China’s 2nd and 3rd Tier Cities Expect Housing Recovery in 2016
Expect further gains in homes prices among China’s medium-sized cities this year, owing to the government’s supportive policy measures and an improving supply demand balance, according to analysts.
Tier-two urban areas such as Hangzhou, Nanjing in the east and Chengdu in the west are among cities that should see catch-up gains this year, analysts said. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
Leave a Reply