Keppel Land Takes Control of Saigon Centre and More Asia Real Estate Headlines

At the top of the headlines today Keppel Land becomes the latest Singaporean developer to commit more cash to Vietnam, Jared Kushner’s cushy White House gig could tie up his juicy NYC property deal, and Hong Kong property developers are making more money. Read on for all the details.

Keppel Land Takes Control of Saigon Centre with S$53M Investment

Keppel Corp’s property unit, Keppel Land, has pumped in VND 845.9 billion (approximately S$53.5 million) to raise its stake in Saigon Centre in Ho Chi Minh City, Vietnam. Saigon Centre is owned by joint venture entities Keppel Land WATCO I to V.

Following this new investment, Keppel Land has increased its stake in the joint venture companies Keppel Land WATCO I, II and III from approximately 45.3 per cent to 53.5 per cent, and from 68 per cent to 76.2 per cent for Keppel Land WATCO IV and V. Read more>>

Will Kushner’s White House Role Take Down His Anbang Deal

More than two years ago, Charles Kushner had a vision to convert his family’s trophy Manhattan office and retail skyscraper from a barely break-even property into a soaring 1,400-foot mixed-use skyscraper with retail, a hotel and some of the most expensive condominiums in the city.

Then Donald Trump sought—and won—the presidency, and the project got more complicated. Read more>>

Net Profit Climbed 3% at Henderson Land in 2016

Henderson Land Development (00012) annual net profit for 2016 increased by 3 percent, or by HK$590 million to HK$21.91 billion, from HK$21.32 billion the year before, the real estate developer reported today.

Earnings per share for the year ended December 31, 2016, were HK$6.03 from HK$5.87 in 2015. Read more>>

K Wah International Profit Jumped 113% in 2016

K Wah International Holdings reported 2016 underlying profit jumped 113 per cent to HK$2.8 billion (US$360.53 million), lifted by robust property sales in Hong Kong and the mainland.

The mid-sized developer said profit attributable to equity holders rose to HK$3.18 billion, compared to HK$1.37 billion a year earlier, according to a filing to the Hong Kong stock exchange on Tuesday. Read more>>

Hong Kong Home Prices Continue to Climb Amid Buying Frenzy

Hong Kong home prices were squeezed higher as investors snapped up new flats at weekend sales, boosting home sales to a nine-month high.

More than 1,000 new homes were purchased between Friday and Sunday at a trio of sales events by major developers. Read more>>

China’s Higher Home Price Drive Demand for Property Agencies

China’s 6.5 trillion yuan (US$941.4 billion) pre-owned homes market is attracting growing interest, and rising levels of capital being invested is set to alter the landscape of the business, experts say.

In the latest buyout of a company involved in the sector, in late February Shenzhen-listed Kunming Department Store spent 6.18 billion yuan (US$895 million) on a 94 per cent stake in property agency Weiye 5i5j Group, via a share swap and with cash, with the remaining 6 per cent stake for 378 million yuan in a share transfer deal. Read more>>

China Now Has 100 Cities Over 1 Million People

China now has more than 100 cities of over 1 million residents, a number that is likely to double in the next decade.

According to the Demographia research group, the world’s most populous country boasts 102 cities bigger than 1 million people, many of which are little known outside the country – or even within its borders. Read more>>

Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.