Movie stars finally make their way into Mingtiandi today as Taiwanese glamour gal Shu Qi gives a low-key celebrity endorsement to a Hong Kong project with her recent HK$127 million purchase of a home in the mid-levels tower. Meanwhile, Swire Properties is doing its best to leverage Miami’s sultry vibe with plans to add a fourth stage to its south Florida project and Singapore-listed Yanlord Land splashes out RMB 2.9 billion on a new site in Hangzhou. More deals and all the details are listed below.
One-time adult film actress turned A-list celebrity Shu Qi, has bought a home in a luxury development in Hong Kong’s Mid-Levels West for HK$127 million (US$16.18 million), or HK$51,000 per square foot.
Information from the Land Registry shows that a buyer under the name Lin Li-hui, Shu’s legal name, acquired the 2,499 square foot duplex at the development known as yoo 18 Bonham in June. Read more>>
Brickell City Centre, the sprawling shopping, dining and residential complex that successfully brought Hong Kong-style multi-level commercial development to Miami’s financial district, now aims to expand its footprint to a fourth block.
Swire Properties has filed plans with the city of Miami for an extension of its existing special area plan that would comprise two condo towers, one of them with a three-level retail base. Both towers would be connected to each other and the existing three-block complex by new skybridges. Read more>>
Real estate developer Yanlord Land Group has acquired a 154,500 square metre, gross floor area (GFA) prime residential development site in Hangzhou for approximately 2.94 billion yuan (S$600 million) through a public land auction.
Situated within the Zhijiang Resort Centre of Xihu District, the site has a plot ratio of up to 2.0 times and benefits from the local government’s initiatives to develop the area into a key cultural and lifestyle centre, Yanlord said. Read more>>
Chinese investment in Australia’s commercial property has plummeted to the lowest level in six years as mainland capital controls bite. Direct investment fell 81 percent to A$250 million ($187 million) in the first half from a year earlier, property brokerage CBRE Group Inc. said in a report on Monday.
“If these restrictions continue, we expect Chinese investment into Australia to record its lowest year since 2012,” said Ben Martin-Henry, associate director of capital markets and forecasting. The capital controls are having a “meaningful impact” globally, he said. Read more>>
Savills Investment Management has bought two logistics assets in the Netherlands and Finland on behalf of Vestas Investment Management and a club of Korean investors.
The real estate investment manager said it has forward purchased the assets in Venlo and Helsinki which will both be leased to logistics operator DSV. No financial details were disclosed. Read more>>
China’s sovereign wealth fund China Investment Corp (CIC) posted a 37.55 percent rise in 2017 net profit, boosted by record-high returns from its overseas portfolio.
Profit rose to $103.62 billion from $75.34 billion a year ago for CIC, a shareholder in China’s largest banks such as China Development Bank Corp [CNDBKH.UL] as well as Industrial and Commercial Bank of China Ltd (601398.SS)(1398.HK).
CIC’s total investment income was $114.46 billion, versus $83.03 billion in 2016, its 2017 report showed on Monday. Read more>>
Resale prices of non-landed homes in June crept up just 0.2 per cent from the previous month as volumes tumbled 25.5 per cent, according to the latest flash estimates by real estate portal SRX Property. Year-on-year, prices last month were 10.6 per cent higher than in June 2017.
Based on an index average of three months in the second quarter of 2018 and that of the preceding quarter, prices have risen 3.8 per cent from the first quarter of this year. Read more>>