Brisbane 1 will be Guangzhou R&F’s first project to hit the Aussie market
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
R&F Properties Launches 600-Condo Brisbane Project
Brisbane City Council has approved a new luxury 30-storey apartment complex in South Brisbane called Brisbane 1 despite separate, stalled negotiations between state and local governments on the future mix and density of South Brisbane.
Chinese property developers R&F Properties on Thursday night unveiled their first project for Australia’s property market, called Brisbane 1. Read more>>
Greenland Group Sells A$165M Sydney Apartments in One Weekend
Chinese developer Greenland Group sold more than $165 million worth of apartments over the weekend at the sales launch of its luxury Omnia development at Sydney’s Potts Point.
The group secured the sale of an $11m penthouse, bought by a European couple that have local residency. Read more>>
Analyst Report Questions Evergrande’s Balance Sheet
Evergrande Real Estate is seeking to perpetuate a number of myths. The first is that both its profits and business are growing rapidly. The company’s narrative that it is investing for growth is used to justify its high debt levels.
In reality, while gross profits have increased in line with sales in recent years, the additional profits have gone to other providers of capital, specifically minority investors and holders of its perpetuals, while underlying profits attributable to shareholders have actually fallen. Read more>>
China May Loosen Hukou Rules to Spur Housing Market
Despite a mild recovery in new home prices, China’s housing market continues to grapple with persistent oversupply, raising expectations for more supportive policies.
China’s leadership signaled more stimulus for the industry this week. President Xi Jinping on Tuesday urged efforts to digest housing inventories and promote sustained development of the sector.
A cabinet meeting presided over by Premier Li Keqiang on Wednesday also called for household registration reforms, which may encourage more rural residents to settle down in cities, to boost consumption of homes and electronic appliances. 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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