Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Remember Me

Lost your password?

Register Now

Loading...
  • Capital Markets
  • Events
    • Mingtiandi 2025 Event Calendar
    • Mingtiandi APAC Residential Forum 2025
    • Mingtiandi Singapore Forum 2025
    • Mingtiandi APAC Logistics Forum 2025
    • Mingtiandi APAC Data Centre Forum 2025
    • Mingtiandi Tokyo Forum 2025
    • More Events
  • MTD TV
    • Residential
    • Logistics
    • Data Centre
    • Office
    • Singapore
    • Tokyo
    • Hong Kong
    • All Videos
    • Post-Event Stories
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Evergrande Slashes Prices by 30% for One Month and More Asia Real Estate Headlines

2020/09/08 by Shiunne Bulsombut Leave a Comment

China’s housing market is headed into the busy season, and one of the country’s top developers has taken steps this month to make sales a bit more active by cutting nearly a third off the prices of its properties nationwide.

Also in the news today, Singapore-listed Yanlord Land saw its sales double in August and Hong Kong retail landlords are starting to operate their own shops as tenants disappear.

Evergrande Slashes Property Prices by 30% for One Month

China Evergrande, the country’s biggest home seller, said it would slash 30 percent off the price of every real estate project nationwide for a month, in an unprecedented step that could kick off a spate of competitive discounts as cash-starved developers boost sales to raise cash in a slowing market.

The Shenzhen-based developer, founded and headed by China’s third-richest businessman Xu Jiayin, kicked off its month-long sales campaign on September 7. It aims to sell RMB 200 billion (US$29 billion) of property during the period, according to an Evergrande official who declined to be identified. Read more>>

Yanlord’s August Contracted Sales More Than Double to RMB 12.03B

Real estate developer Yanlord Land Group saw its contracted pre-sales from residential and commercial units as well as car parks more than double to RMB12.03 billion (S$2.41 billion) in August, from RMB4.81 billion a year ago.

Total contracted gross floor area (GFA) rose 75.6 percent year on year to 280,819 square metres (sqm) in the same month, according to Yanlord’s unaudited key operating figures it released on Monday. Read more>>

Savills Shifts SG Residential Brokerage to Huttons Unit

With the residential project marketing business becoming increasingly competitive, there has been a series of mergers and acquisitions among the various real estate agencies over the past three years.

The latest to go down that path is Savills Singapore and Huttons Asia. Over the weekend, a deal is said to have been struck, whereby all agents at Savills Residential will move across to Huttons Asia, which will solidify the latter’s position as the fourth largest agency in Singapore. Read more>>

Singapore’s Parkway Life REIT Included in FTSE Index

Parkway Life REIT is set to continue driving growth in asset recycling, as it looks to build a potential third pillar in matured markets, say DBS Group Research. As one of Asia’s largest listed healthcare REITs, Parkway Life surprised the market when it was included in the FTSE EPRA Nareit Global Developed Index last week, sending its share price above its pre-Covid-19 high of $3.74.

Parkway Life REIT invests in income-producing real estate and real estate-related assets used primarily for healthcare and healthcare-related purposes. Read more>>

Hangzhou Sets New Home Purchase Restrictions as Market Booms

China has taken another step to plug a hole in its household registration system to prevent excessive speculation in its RMB 16 trillion (US$2.3 trillion) housing market as the economy emerges from a historic slump.

After a pre-emptive strike in Shenzhen in July and Nantong in December, authorities have now tightened the so-called hukou system in Hangzhou in the eastern coastal province of Zhejiang, home to Alibaba and Ant groups and many of the nation’s newly minted stock market billionaires. Read more>>

Condo in SG’s Bukit Timah Sells Third of Units at Launch

212 units, or one-third of the total, have already been sold at Qingjian Realty’s Forett project in Singapore’s posh Bukit Timah. The 633-unit freehold development by the local branch of the Qingdao-based builder was first launched on Aug 8.

“Close to 700 visitors have scheduled viewings with us at the Sales Gallery between Aug 11 and Aug 31,” Yen Chong, deputy general manager of Qingjian Realty says. Read more>>

HK Retail Landlords Open Their Own Shops as Tenants Fold 

The collapse of retail rents and high vacancy rates in some of Hong Kong’s main shopping districts is forcing some landlords to get creative. Rather than leave their buildings standing idle, some are launching brand new, totally unrelated business ventures to fill the vacant space.

Two joint owners of a five-storey retail complex at 53 Carnarvon Road, Tsim Sha Tsui, for example, plan to open their first cosmetics store on the premises on September 17. Read more>>

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Evergrande Real Estate, Hangzhou, Parkway Life REIT, Savills, Yanlord Land Group

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.

MTD TV

Andrew Burych, Brookfield Asset Management
Brookfield Ready to Ramp Up in Asia Pacific, Build on Nearly a Decade in the Region
Hines, Baker Mac, Essensys, Tosei Asset Foresee More Flexible Offices: MTD TV

More MTD TV Videos>>

People in the News

EQT_David Kim
Asia Real Estate People in the News 2025-06-21
singh-anshuman
Asia Real Estate People in the News 2025-06-16
Raymond Lee Paul Hastings
Law Partner Picks Up Hong Kong Home of Former Birmingham City Boss for $37M
Teo Chee Hean Temasek
Asia Real Estate People in the News 2025-06-09

More Industry Professionals>>

Latest Stories

Chan Hung Ming Grand Ming
Bain Capital in Exclusive Talks to Acquire Hong Kong Data Centre Projects for Up to $274M
Stuart Dawes Gateway
Aussie Shed Surge Continues with $87M Gateway Portfolio Disposal
EQT_David Kim
Asia Real Estate People in the News 2025-06-21

Sponsored Features

How to Create a Win-Win for Investors and Occupiers
Lingeage Logistics Cold Storage Complex
Mount Maunganui Cold Storage Facility for Sale
7 in 10 Senior Directors Confident in Data Centres, but Talent Shortage Will Widen

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Mingtiandi 2025 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Memberships
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2025 China Advertising Media Ltd (Samoa). All rights reserved.

We use cookies in accordance with our Privacy policy to provide the best user experience on Mingtiandi and to safeguard user data. By continuing to browse you consent to the policy. AcceptRefuse