Here is a list of the day’s latest China real estate news collected from around the web:
China Vanke Co Ltd, the largest mainland China property developer by sales, on Monday reported a 25.1 percent rise in net profit for the first half of the year, slightly stronger than expected. The net profit for the first half totalled 3.73 billion yuan ($585 million). Revenue for the first six months grew much faster than anticipated, up 53.7 percent to 30.72 billion yuan, but margins fell. Developers have been cutting prices in China to win business in a market downturn. Jefferies had forecast net profit of 3.5 billion yuan from revenue of 27.7 billion yuan.
E-House (China) Holdings Limited (“E-House”) (NYSE: EJ), a leading real estate services company in China, today announced that it will report its financial results for the second quarter ended June 30, 2012 before the U.S. markets open on August 16, 2012. E-House’s management will host an earnings conference call on August 16, 2012 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing/Hong Kong time).
The rich Shanghai real estate market is staging a comeback, putting another chip in the armor of the hard landing theorists as China’s economy continues to muddle through, rather than deteriorate. New home sales exceeded 200,000 square meters again in Shanghai last week while average price climbed to a three-week high due to strong sales of mid to high-end properties, the Shanghai based Deovolente Realty Group said in a report released Monday.