Global real estate fund managers are turning their backs on mainland China in favour of Japan and Australia, while Shanghai Disney gives a boost to hotel and retail shares despite the current market turmoil. All this and more in today’s real estate headlines:
Investor Interest in Chinese Property Drops by Half as Japan Appeals
Global institutional investors and fund managers are taking a dimmer view of China’s property market and instead are placing their bets in Japan and Australia, according to a new survey.
Investors–who had last year looked to expand their portfolio of factories, business parks, warehouses and shopping malls in China’s first-tier cities of Beijing, Shanghai, Shenzhen and Guangzhou–are no longer attracted to such assets, according to the survey released Wednesday by the Asian Association for Investors in Non-Listed Real Estate Vehicles, known as Anrev. Read more>>
Shanghai Disney Sets June Opening, Pulls Up Related Stocks
Stocks of retailers and tourism companies expected to benefit from the planned Shanghai Disney Resort got a jolt early Wednesday as the opening date was revealed.
Shares of Shanghai Jinjiang International Hotels Development gained 2% for the day to 37.64 yuan ($5.73), while conglomerate Shanghai Sanmao Enterprise Group climbed 1.15%. Read more>>
China Overseas Land’s 2015 Sales Grew by 28%
China Overseas Land & Investment (0688) said contracted property sales last year for the whole group, including associate China Overseas Grand Oceans Group (0081), jumped 28 percent to HK$180.6 billion from a year back.
It met its annual target, set at HK$160 billion in early 2015. Sales in December alone reached HK$15 billion, more than double from a year earlier. Read more>>
Evergrande Follows Acquisition Binge with $700M in Bond Sales
Debt-laden Chinese developer Evergrande Real Estate announced US bonds offering on Wednesday totaling US$700 million, in the wake of its massive asset purchases from New World China.
The Guangdong-based developer said it issued US$400 million (HK$3.1 billion) worth of notes at 7.8 per cent due in 2019. It also said it had a purchase agreement with three investment banks for US$300 million worth of notes at 8 per cent due 2019. Read more>>
CapitaLand Trust Selling $677M Singapore Office Tower
CapitaLand Commercial Trust, Singapore’s largest office real estate investment trust by value, is selling an office tower in the city-state’s central business district, according to a person familiar with the transaction.
CapitaLand Commercial is seeking to sell the 23-story One George Street building in the Raffles Place office district, the person said, asking not to be named as the information is private. The building, whose tenants include Royal Bank of Scotland Group Plc and Diageo Singapore Pte, has 41,564 square meters (447,000 square feet) of lease area, according to the trust’s website. 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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