In today’s roundup of regional news headlines, a unit of Chinese developer Yango loses its wind-up case in a Hong Kong court, India’s DLF says it’s likely to delay a planned REIT launch, and a Singapore commercial development goes up for sale via tender.
A Hong Kong court has ordered a Chinese developer’s unit that defaulted on offshore debt to be wound up, the first such instance against a major builder during the country’s property crisis and opening the door to more such decisions.
The order regarding Yango Justice International Ltd (陽光城嘉世國際) was dated Monday last week, according to a winding-up search report done through the Web site of Hong Kong’s Official Receiver’s Office. Read more>>
Indian real estate company DLF is likely to delay the launch of its REIT due to the change in market scenario with rising interest rates.
The firm has been getting ready for the launch of its REIT for the last 18 months. CEO Ashok Kumar Tyagi confirmed that DLF will launch its REIT when market circumstances are proper, the Economic Times reported. Read more>>
The newly refurbished Katong Point development will be launched for sale via tender on Wednesday, Cushman & Wakefield said Tuesday.
Located at 451 Joo Chiat Road in Singapore’s Katong neighbourhood, the four-storey freehold commercial development has a basement carpark and was formerly known as Katong Junction. Read more>>
Market demand for new homes was robust in Hong Kong over the weekend, with Sun Hung Kai Properties receiving over 500 checks for 50 flats at Park Yoho Bologna in Yuen Long and Henderson Land’s One Innovale-Cabanna in Fan Ling also oversubscribed.
The two projects in the Northern Metropolis are the first to launch sales after the policy address on Wednesday, and cheap deals for the Fan Ling flats also spurred demand. Read more>>
Home prices in China fell for the 13th straight month in September as sentiment remained weak, with analysts saying the government has to implement stronger measures to address the woes of the nation’s property sector.
New home prices in 70 cities, excluding state-subsidised housing, dropped 0.28 percent from August, according to National Bureau of Statistics data compiled by Bloomberg. Existing home prices declined 0.39 percent last month, the most since October 2014. Read more>>
China’s latest support measures aimed at stabilising the property sector and restoring homebuyers’ confidence are probably insufficient to boost housing demand, says Fitch Ratings.
The easing housing policies collectively have contributed to modest improvements in some higher-tier cities and at state-owned homebuilders, but national new home sales will most likely remain lacklustre so long as the dampened homebuyer sentiment drags on, according to the agency. Read more>>
The private equity entity formed by the just-completed $6.7 billion merger of Hong Kong-based Baring Private Equity Asia and Sweden’s EQT is betting on Asia to help it challenge global giants KKR and Blackstone.
The combined entity, to be known as BPEA EQT, will stick to Baring’s focus on investing in the technology and real estate sectors in the region, with a particular eye on growth companies in Southeast Asia, said BPEA EQT partner Kosmo Kalliarekos. Read more>>
The Urban Land Institute announced Monday that the ULI Hines Student Competition has officially launched in Asia Pacific with a call for entries.
The competition, which began in 2003 in North America and expanded to Europe in 2020, invites interdisciplinary teams of graduate students from across the Asia Pacific region to devise development projects for an actual site in a major city. Applications are now open, and the deadline for registration is 16 December. Read more>>