China Vanke Posts First Loss Since 1991 IPO and More Asia Real Estate Headlines

China Vanke reports a bigger full-year loss than previously expected, with that result leading today’s headline roundup. Also making the list, Singapore’s residential price growth slows after a 3.9 percent rise in 2024 and China’s resale home prices continue to slide.

China Vanke Posts $6.8B Loss

China Vanke posted a record RMB 49.5 billion ($6.8 billion) loss for 2024, underscoring why the developer’s hometown of Shenzhen has stepped in to take control of operations.

The result, worse than the firm’s January forecast, marks the first full-year loss since Vanke’s 1991 initial public offering. The full-year result disclosed in Vanke’s annual report suggests a RMB 32 billion loss in the final quarter, which implies that operations worsened significantly even as the government unveiled its biggest package to revive the housing market. Read more>>

Singapore Home Price Growth Slows in Q1

Singapore’s private residential prices rose more slowly in the first quarter of 2025, increasing 0.6 percent over the previous three months, flash estimates released by the Urban Redevelopment Authority showed Tuesday.

The reading follows a 2.3 percent jump in last year’s fourth quarter and a 3.9 percent rise for the whole of 2024. Sales volume fell 15 percent to 6,299 units in the first quarter from 7,433 in the previous quarter. Prices of non-landed private residential properties rose by a marginal 0.6 percent after rising 3 percent in the prior quarter. Read more>>

China Resale Home Price Slide Accelerates in March

Average resale home prices across 100 Chinese cities fell at a sharper monthly pace in March, a private survey showed Tuesday, signalling persistent challenges in the property sector despite modest gains in new home prices.

The average resale home price fell 0.59 percent from the prior month, versus a 0.42 percent drop in February, while new home prices in the same cities edged up 0.17 percent during the period, according to the survey by China Index Academy, one of the country’s largest independent real estate research institutions. Read more>>

Miramar Hotel Shareholders Reject Sale of Property to Henderson Land

Miramar Hotel and Investment’s shareholders rejected the HK$3.1 billion ($401.1 million) deal under which it was buying a property from Hong Kong’s Henderson Land Development for building a hotel and commercial complex.

Over 53 percent of stockholders voted against the proposed deal while 46 percent supported the transaction, an exchange filing by the hotel operator showed Monday. Henderson Land and Miramar unveiled plans in January to change ownership of the property, with the former scrapping plans for a new commercial tower. Read more>>

Pro-Beijing Media Ramp Up Attacks on CK Over BlackRock Port Deal

A pro-Beijing Hong Kong newspaper stepped up criticism of CK Hutchison’s deal to sell its Panama ports to a BlackRock-led group, sending its shares lower on Monday, as sources said the transaction, due to be signed by 2 April, would be delayed.

The deal has become highly politicised as the Hong Kong conglomerate is thrust into the cross-hairs of an escalating China-US trade war that has deepened concerns about the financial hub’s edge eroding further amid geopolitical tensions. Read more>>

Hong Kong Mortgage Loans Jump as Buyers Seek More Financing

Approved mortgage loans in Hong Kong rose to a nine-month high in February as buyers of new flats sought additional financing, suggesting an improvement in demand as developers continued to launch new projects at attractive prices, analysts said.

Financial institutions approved mortgage loan applications worth HK$26.1 billion ($3.3 billion), the highest since HK$31.6 billion last May, according to data released by the Hong Kong Monetary Authority on Monday. February was also the fourth straight month in which loans topped HK$20 billion. Read more>>

State-Owned Mainland Developers Rally as Land Banks Grow

China’s last-standing property firms are enjoying a stock rebound underpinned by expectations of market share consolidation as they ramp up land purchases in core cities.

Shares of a number of state-backed builders have surged since the government issued its strongest support measures for the sector in late September. Greentown China Holdings, a frequent purchaser of high-premium land in biggest cities, has jumped 71 percent, while China Jinmao Holdings gained 77 percent. C&D International Investment rose 40 percent. Read more>>

China State Banks to Get $72B Capital Injection

Four of China’s largest banks are planning to raise up to $71.6 billion via share sales under a Finance Ministry-led plan aimed at bolstering capital and beefing up lending to help boost the economy.

Bank of Communications, Bank of China, China Construction Bank and Postal Savings Bank of China said Sunday that they plan to raise a combined RMB 520 billion ($71.6 billion) in private placements to investors, including the Finance Ministry. Read more>>

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