SM Prime in talks for 5 China mall properties – and more of today’s China Real Estate Links | May 2, 2012

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

• SM Prime in talks for 5 China properties

  SM Prime Holdings Inc., the Philippines biggest mall developer and operator, is eyeing as many as five additional properties in China as possible expansion sites in line with efforts to widen its presence in the world’s second-biggest economy. In a chance interview, SM Prime Chief Financial Officer Jeffrey Lim said the company is in talks for the properties, which range from five hectares to six hectares each.

• China’s official PMI rises to 13-month high in April

  China’s official purchasing managers’ index (PMI) rose to a 13-month high in April, signaling the economy has found a footing and may be recovering from a first-quarter trough, but smaller factories are still struggling. The pick-up in the PMI to 53.3 from 53.1 in March indicated a further expansion in the vast factory sector, although it was slightly below market expectations of 53.6. Readings above 50 signal expansion while those below 50 point to contraction.

• CapitaLand First-Quarter Profit Rises 31% on Asset Sale, Malls

  CapitaLand Ltd. (CAPL), Southeast Asia’s biggest developer, said first-quarter profit rose 31 percent as gains from the sale of a hotel and higher shopping mall income offset declines in residential earnings from Singapore and China.

This list is updated daily, so tune in again tomorrow for more up to date information, or subscribe to our daily email news digest to get this delivered to your mailbox.