Crowds of home buyers seem to be a thing of the past in Hong Kong
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
HK Homes Prices Set to Slide 5% by February
Hong Kong’s home prices have continued their downward momentum with average home prices at 50 housing estates falling for three consecutive months, a private survey shows.
November prices on average fell 1 per cent from October but some estates reported a drop of as much as 7.6 per cent month on month, according to a survey of 50 housing estates by property agent Ricacorp Properties. Read more>>
Citic Offers RMB 30B Loan for Kaisa Restructuring
State-backed China Citic Bank Co. has agreed to lend 30 billion yuan worth of loans to help property developer Kaisa Group Holdings Ltd to restructure its debt, sources with knowledge of the matter said.
After restructuring, the bank will be Kaisa’s biggest creditor. The struggling property developer struck the deal with a branch of the bank in the southern city of Shenzhen, which will cooperate with some trust companies to raise funds, the sources said. Read more>>
Lianjia Expands into Shanghai in Quest for Nationwide Agency Network
Big green signs began popping up like mushrooms across Shanghai this summer, marking the locations of Lianjia (“home link”) Real Estate Agency offices. Despite the stagnant Shanghai real estate market, the company quickly expanded its network by taking over, revamping and reopening realty offices that had gone out of business.
Lianjia got its start in Beijing in 2001 and now operates about 5,000 outlets in 22 cities in China, including Beijing, Shanghai, Shenzhen, Chongqing, Dalian, Tianjin, Nanjing, Chengdu, Qingdao and Hangzhou. Read more>>
Wang Jianlin Said Bidding to Buy Tour de France
Chinese company Dalian Wanda Group are reportedly in talks to buy the Tour de France from its owners the Amaury Sports Organisation (ASO).
Led by businessman Wang Jianlin, the company are widely believed to be interested in acquiring the rights to cycling’s Grand Tours, with ASO owning the Tour de France and having a stake in the Vuelta a España,
The French media group also hold the rights to several of cycling’s classics, such as the one-day races Paris-Roubaix and Liege-Bastogne-Liege. Read more>>
SOHO Adds to Shared Working Platform with Opening of Hongkou Tower
SOHO China Ltd, a major commercial real estate developer in China, yesterday launched its Hongkou SOHO office project in the North Sichuan Road commercial precinct in Shanghai.
Providing 660 work stations, Hongkou SOHO 3Q, which forms part of the 95,000-square-meter Hongkou SOHO development, is the eighth 3Q project opened in China since the online-to-offline product first hit the market in February. 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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