Shanghai-based Shui On Land is hoping the city’s property boom lasts long enough for it to sell homes near its Xintiandi complex for RMB 300,000 ($44,000) per square meter, while on the Hong Kong stock exchange, investors are already selling off mainland developer stocks – which led the Hang Seng Index downward yesterday. Meanwhile PAG mines the Korean market for $63 million for a new fund, and many more stories if you just keep reading.
Shui On Land’s soon-to-be released Lakeville Luxe residential development in Xintiandi, Shanghai’s bar and shopping district, could set record-breaking prices for the city, just as a new round of cooling measures are introduced to curb price growth.
The priciest unit in the upcoming batch of 50 units at Tower 2, Lakeville Luxe’s fourth phase, is to be offered at 300,000 yuan per square metre, according to Allen Taylor, general manager of product development and high-end residential sales at Shui On Development, a subsidiary of Shui On Land Read more>>
Hong Kong stocks dropped, leading regional declines, as concern about property curbs and the interest-rate outlook weighed on real estate companies and the yuan weakened to a six-year low.
The Hang Seng Index retreated 1.3 percent after earlier climbing to a one-month high. China Resources Land Ltd. fell for a record ninth day, while New World Development Co. slid the most in a month. Cheung Kong Infrastructure Holdings Ltd., which earns almost of a third of its revenue from the U.K., slid the most since June as the pound extended its rout. The yuan fell 0.2 percent. Read more>>
Ticon Industrial Connection Plc, the country’s listed industrial property developer, has allotted 735 million new shares in a private placement to Frasers Property Holding (Thailand) Co Ltd, a subsidiary of SGX-listed real estate developer Frasers Centerpoint Limited (FCL), for 13.23 billion baht ($378 million).
After the shares subscription, Frasers Property Holdings will hold approximately 40 per cent of TICON’s enlarged share capital and take three seats on the management board. Read more>>
A wave of restrictions imposed on housing markets in major Chinese cities last week have unnerved some buyers and developers, cutting the area of new homes sold in places such as Beijing and Shenzhen by more than half.
More than 20 cities have imposed measures, including higher mortgage downpayments, to cool hot property markets that have raised official alarm in Beijing and fresh concerns about China’s ballooning debt. Read more>>
Asia-based alternative investment firm Pacific Alliance Group (PAG) is teaming up with a South Korean brokerage company to launch about a 200 billion won ($180 million) private debt fund in South Korea to provide senior loans backed by properties, and the Public Officials Benefit Association (POBA) will become its lead investor.
The investment review committee of the POBA, a savings fund for South Korean public officials, gave a nod on Oct. 5 to commit 70 billion won ($63 million) to the blind-pool PDF being raised by PAG and Meritz Securities Co. Ltd., a POBA source said on Oct. 9. Read more>>
Walter Kwok Ping-sheung, the former chairman of Sun Hung Kai Properties, (SHKP) says his flagship holding company Empire Group Holdings is growing its property investments in Hong Kong as the city’s outlook remains promising, driven by strong mainland demand.
Kwok said an easing in the regulatory approval processes for outbound investment, as part of China’s “going out” policy, has played a vital role in building mainland capital outflows. Read more>>
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