Here is a list of the day’s latest China real estate news collected from around the web:
Soho China Ltd.’s (410) purchase of stakes in a land venture on Shanghai’s historic Bund was invalidated by a municipal court today, a decision the Chinese developer says it plans to appeal.
The Shanghai court ordered the return of the stakes in Zendai Wudaokou and Greentown Hesheng to the sellers, Shanghai Zendai Property Ltd. (755) and Greentown China Holdings Ltd., according to a statement made by the developer to the Hong Kong stock exchange.
China’s outbound investment into commercial real estate could reach $5 billion this year, international real estate advisory company Jones Lang LaSalle, or JLL, said in a report on Wednesday.
“Offices in New York, London, Singapore and Sydney are all popular destinations for Chinese investors,” said David Green-Morgan, research director of global capital markets at JLL.
Those investors include institutional ones such as sovereign fund China Investment Corp, insurance companies and State-owned enterprises as well as high net worth individuals.
China saw outstanding real estate loans accelerate as of the end of March from three months earlier while industrial lending slowed, official data showed Wednesday.
By the end of last month, financial institutions in China had lent 12.98 trillion yuan (2.08 trillion U.S. dollars) to the property sector, up 16.4 percent year on year, according to statistics from the People’s Bank of China (PBOC), the country’s central bank.
The growth was 3.6 percentage points faster than that recorded at the end of last year, the PBOC said.