Here is a list of the day’s latest China real estate news collected from around the web:
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GLP Leases 24,000 Sqm in Jiangning, Jiangsu
Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has pre-leased 24,000 square metres (“sqm”) (258,000 square feet (“sq ft”)) to a leading global consumer goods company (“the customer”) at GLP Park Jiangning in Nanjing, Eastern China. With the signing of the lease agreement, GLP Park Jiangning is 99% leased. Building upon an existing relationship, this is the first direct cooperation between GLP and the customer. The customer will use the facilities to establish its national distribution center for finished products in China.
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Small cities pivotal to property’s support for China’s growth
A property glut in some smaller cities raises questions over how far China’s decade-long housing boom can last at a time when the fragile economy is more vulnerable than ever to a possible retreat in the red-hot property market.
A flurry of housing investment over the past several years, fuelled in part by herd-like speculative buying, resulted in some developers building more housing than could be sold once the market began to slow.
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China’s July FDI up 24%
China’s foreign direct investment (FDI) surged 24.13 per cent year-on-year to US$9.41 billion in July, posting its sixth consecutive monthly increase since February, and the largest expansion since March 2011, the Ministry of Commerce (MOC).
In the first seven months of the year, the FDI volume increased 7.09 per cent year-on-year to US$71.39 billion, MOC spokesman, Shen Danyang told a press conference here, Friday.
However, the number of companies established by a foreign investor dropped 7.68 per cent year-on-year to 12,626 from January to July this year, he said.
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