Country Garden CEO Mo Bin is now targetting India
China’s third largest developer is now targetting another overseas market, as Country Garden announced plans to move into India. Also in the headlines today, China Oceanwide agrees to buy tech media group IDG, and CapitaLand has a new commercial project in the works in Vietnam. Read on for all these stories and more.
Country Garden Plans First India Project in 2017
Chinese property giant Country Garden said it is actively looking for investment opportunities in India, where it plans to acquire at least one residential land parcel by the end of 2017.
Developers from China have been making headlines in recent years for their ambitious overseas plans to build projects in popular destinations such as the US, UK and Australia. Read more>>
China Oceanwide Clinches IDG Acquisition
A Chinese consortium led by China Oceanwide Holdings Group Co. reached a deal to buy International Data Group Inc., the data and marketing company that also runs venture-capital firm IDG Ventures.
On Thursday, The Wall Street Journal reported that China Oceanwide was nearing a deal that could be announced in the coming days, the people said. The Oceanwide consortium is paying less than $1 billion for International Data Group, one of the people said at the time. Read more>>
CapitaLand Planning New Commercial Complex in HCMC
Singapore developer CapitaLand plans to build a 240 metre tall office tower in downtown Ho Chi Minh City, apparently anchored by at least four storeys of shopping mall.
While CapitaLand has already established a strong presence in Vietnam in the accommodation and serviced apartment sectors, this tower would mark its first foray into retail. Fellow Singapore developers Keppel and Mapletree have both built shopping centres in Ho Chi Minh, Vietnam’s most-populated city. Read more>>
18 Bidders Compete for Residential Site in HK’s Kai Tak
Eighteen developers have submitted bids for the government tender of a residential plot in Kai Tak area before the deadline on Friday, according to the Lands Department.
Surveyors are projecting the site, known as Kai Tak Area 1L Site 1, could be worth HK$4.6 billion to HK$5 billion, or HK$10,000 to HK$12,000 per square foot. Read more>>
“Affordable” Kai Tak Project Sells Out on First Day
All 122 flats released for sale at the One Kai Tak Phase Two project on Saturday were snapped up, signalling strong demand for primary property ahead of the Lunar New Year.
The project, on the site of the former Kai Tak airport, is being developed by mainland Chinese developer China Overseas Land and Investment. Flats are available only to buyers who hold Hong Kong permanent resident cards, part of a government programme to make housing more affordable. 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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