Here is a list of the day’s latest China real estate news collected from around the web:
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Li Ka-Shing-Linked ARA Eyes Up To $640 Million Yuan-IPO In October
ARA Asset Management Ltd. (D1R.SG), the Singaporean real estate firm partly owned by Hong Kong tycoon Li Ka-shing, plans to carve out some of its Chinese property assets in an up to US$640 million initial public offering by the end of October in what is set to be Singapore’s first yuan-denominated share sale, three people with knowledge of the deal said Tuesday. The yuan-denominated listing, which is to be done as a real estate investment trust, would be only the second IPO denominated in the Chinese currency outside mainland China.
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E-House Leads ADR Retreat on PBOC Policy Bets: China Overnight
Chinese equities fell in New York and E-House China Holdings Ltd. dropped the most in a week after an increase in home prices in July spurred concern the central bank will avoid easing monetary policy. The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese companies in the U.S. declined 0.6 percent to 90.63 yesterday, a two-week low. E-House, a provider of property agency services, slid for a third day.
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China Said to Order Action by Banks as Developer Loans Sour
China’s banking regulator told lenders to push developers for faster home sales, citing signs that credit quality is worsening, a person with knowledge of the matter said. The China Banking Regulatory Commission told lenders they should also demand more collateral, or tell developers to sell projects or stakes, if the banks predict they’ll have difficulty repaying loans due within 12 months, the person said, asking not to be identified because the instructions aren’t public.
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Amusement parks boost China real estate market
When visiting a theme park in China, listen for the shrieks as the roller coasters whiz past and the bumper cars collide. Chances are, the loudest such screams of joy are from the investors. Amusement parks are a booming business in China. But although attractions are springing up nationwide, industry insiders say the trend has less to do with tapping the thrill-seeker market and more to do with securing prime real estate.
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MGPA’s Saunders Doesn’t Expect China Property Clampdown
John Saunders, chief executive officer for Asia at MGPA, a private-equity real estate investment firm, talks about China’s property market and his investment strategy. China’s new-home prices rose in the largest number of cities in 14 months in July after interest-rate cuts and incentives for first-time buyers, complicating efforts to stimulate economic growth while curbing speculation. Saunders also discusses real estate markets in Singapore, the U.K., and Australia.
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Indian Summer for China’s Real Estate
Rising house prices mean headwinds to China’s growth are blowing less fiercely. On average, residential property prices in 70 major cities in July were up 0.14% from June. It was the second monthly increase after eight months of falling prices. Sales are also creeping back. The amount of floor space sold in July was up 14% from a year earlier, the first increase since the end of 2011. So far, a turnaround in real estate sales is not translating into new investment. New starts were down 30% in July from a year earlier, a sharper fall than in previous months. Land sales were down 9%.
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