Keppel Land China is selling out its first ever project in Nanjing
In today’s roundup of regional news headlines, Singapore-based developer Keppel Land offloads a housing project in eastern China, Li Ka-shing’s CK Asset prepares to market luxury residences in Singapore’s Bukit Timah area, and Hong Kong’s Housing Authority struggles to sell a batch of subsidised shoebox flats.
Keppel Land China to Divest Nanjing Project for $274M
Keppel Land’s Chinese unit is divesting a company behind its first project in the eastern city of Nanjing for RMB 1.75 billion ($270 million), Singapore-listed parent Keppel Corp announced in a bourse filing on Monday.
The deal is expected to yield a divestment gain of RMB 284 million for Keppel Land China in the financial year, not counting previously recognised gains of some RMB 44 million for unit sales. Read more>>
CK Asset Launches Sales for Condo Project in SG’s Bukit Timah
Hong Kong developer CK Asset Holdings is banking that Singapore’s luxury market will continue to remain buoyant as it readies the launch of its upcoming development Perfect Ten for sale on 19 December.
The 230-unit freehold development in District 10’s Bukit Timah area will comprise two-bedroom apartments spanning 753 to 797 square feet (70 to 74 square metres) and three-bedroom units ranging from 1,227 to 1,281 square feet. Read more>>
Over 780 Subsidised Shoebox Homes Go Unsold in Hong Kong
More than 780 shoebox flats put on the market in Hong Kong’s latest batch of subsidised housing units have gone unsold for over a month, even as all the larger flats offered under the scheme were quickly snapped up.
The Housing Authority offered up a total of 2,649 new flats for sale under the Green Form Subsidised Home Ownership Scheme on 29 October, including 2,112 units at Kai Chuen Court, situated above the Diamond Hill MTR station in Kowloon. Half of the units at Kai Chuen were sized between 184 and 287 square feet (17 and 27 square metres). Read more>>
New World Launches Subsidised Housing Programme in Hong Kong
Hong Kong property firm New World Development has announced the launch of subsidised homes at discounts ranging from 40 to 50 percent, aimed at helping lower-income groups get on the property ladder.
As part of New World Subsidised Housing, the developer will offer 300 one-, two- and three-bedroom flats on a site in the New Territories West with a gross floor area of 130,000 square feet (12,077 square metres) to buyers who are permanent Hong Kong residents and first-time buyers aged 25 to 45. Read more>>
Nomura Real Estate Condo Project Aims to Attract EV Drivers
Nomura Real Estate Holdings, one of Japan’s biggest listed developers, sees electric vehicles as one key plank to its green building push.
The company is constructing what it says is Japan’s first fully emissions-free condominium powered by gas and electricity — a high-rise luxury residential tower in Sagamihara, a city about an hour’s drive from Tokyo. Every parking spot in the building’s three-level basement will have its own electric-car charging point, and the garage will also feature spare chargers for visitors. Read more>>
CapitaLand Sells Out HCMC Luxury Residential Project
CapitaLand sold all 88 units of its luxury residential development Define in Ho Chi Minh City within two hours of its exclusive weekend preview on Saturday. The residences went at an average price of VND 125 million ($5,400) per square metre.
Slated for completion in 2024, Define comprises three- and four-bedroom apartments starting from 197 and 296 square metres (2,120 and 3,186 square feet) respectively. Read more>>
China Real Estate Loans Surged by $31B in November
Real estate loans in China rose by RMB 200 billion ($31 billion) in November compared with the same month last year, state media reported, as authorities reiterated that China Evergrande’s debt crisis will pose little impact on the property market, which is returning to normalcy.
Meanwhile, some major developers are planning to issue asset-backed securities in the near term, a further sign that regulators are marginally broadening financial channels for developers amid Evergrande’s debt crisis. Read more>>
Keppel Land Kicks Off India Residential Project With Rustomjee
Rustomjee Group, one of Mumbai’s leading real estate developers, is partnering with Singapore’s Keppel Land to build an integrated township in Thane, Mumbai.
The collaboration leverages Rustomjee Group’s local expertise and Keppel Land’s international experience and track record in providing innovative and sustainable urban space solutions, the partners said. Read more>>
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