Soho China Plans To Buy Shanghai Property Project For CNY2.1 Billion – and more of today’s China Real Estate Links | April 18, 2012

Here is a list of the day’s latest China real estate news collected from around the web:

• Soho China Plans To Buy Shanghai Property Project For CNY2.1 Billion

  Beijing-based commercial property developer Soho China Ltd. (0410.HK) said Tuesday it plans to buy an office project in Shanghai for CNY2.1 billion ($333 million). Soho China plans to acquire the entire equity interest of Greentown Plaza Development, which is responsible for the development of the project.

• Weak earnings cloud to hang over real estate sector

  Of the 33 property developers listed either on the Shanghai or Shenzhen bourses that have released their earnings estimates for the three months ended March 31, 70 percent said they expected a decline from a year earlier. Only six predicted an increase.

• China’s Stocks Fall Most in a Week on Foreign Investment Slump

  China’s stocks fell, dragging the benchmark index down by the most in a week, as data showing foreign direct investment sank for a fifth month underscored concern Europe’s debt crisis is hurting the economy. China Vanke Co. and Poly Real Estate Group Co. led a gauge of property developers to the biggest loss among industry groups after the Xinhua News Agency reported Shanghai won’t loosen its property curbs.

• CapitaRetail China Net Property Income Grows 18.3% In 1Q2012

  CapitaRetail China Trust Management Limited (CRCTML), the manager of CapitaRetail China Trust (CRCT), announced today net property income (NPI) of RMB126.2 million for 1Q 2012, up 18.3% from the RMB106.6 million for the same period last year.

• Zhejiang real estate company accused of bilking over 1000 investors

  SHANGHAI police are investigating a Zhejiang Province-based company accused of cheating more than 1,000-plus people out of hundreds of millions of yuan they invested to purchase or rent stores across the city from the company.

• Shanghai posts fall in Q1 housing data

  SALES of new homes fell in Shanghai in the first quarter of this year while the construction of new residential developments in the city also declined. Between January and March, new homes sold across the city totaled 2.75 million square meters, an annual drop of 10 percent, according to a statement posted on Shanghai Statistics Bureau’s website.

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