Here is a list of the day’s latest China real estate news collected from around the web:
A Chinese investment group said Wednesday it will finance the majority of a $1.5 billion mixed-use development project in Oakland, an unusually large investment by a Chinese company in California, especially in real estate.
The agreement was finalized ahead of Gov. Jerry Brown’s week-long trade mission to China, and he used it to promote foreign investment in the Golden State.
Carlyle Group (CG.O) has acquired a Shanghai office building, Central Plaza, for $267 million from Singapore-listed real estate fund Forterra Trust (FORE.SI), Forterra said on Wednesday.
Private equity buyers are increasing their focus on commercial real estate in China, with Blackstone Group L.P. (BX.N) buying the 50,000-square-meter Huamin Imperial office tower and 5-star hotel complex valued at around $1.1 billion.”
Continental Tires, the leading German tire manufacturer, is aiming to become one of China’s top three tire makers and suppliers over the next five to six years through an aggressive expansion of its retail network.
Jay Dhillon, the general manager of Continental Tires China, said the company – the world’s fourth-largest tire maker – saw rapid growth in its retail operation last year, its “most successful year”, adding a further 1,000 authorized franchised stores giving it a total of 2,500.
About 3.1 million square meters of gross floor area were sold in Shanghai’s primary housing market in the first quarter, the highest level in two years.
In the first quarter, the city’s new-home sales remained robust, growing 119 percent year-on-year to reach 3.1 million sq m. The transaction prices of new homes rebounded to an average of 23,300 yuan ($3,762) per sq m in the first quarter, data released by international real estate service provider Savills China showed.
Casual clothing chain Uniqlo Co. announced plans April 10 to open in autumn its largest flagship store, featuring about 6,600 square meters of floor space on a commercial street in the heart of Shanghai.