Here is a list of the day’s latest China real estate news collected from around the web:
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Chinese developers continue to raise funds for land purchases
China’s 10 largest property developers have raised nearly 38 billion yuan ($6.2 billion) in funding at home and abroad since the start of 2013, nearly equal to last year’s total, and analysts say the borrowing binge is likely to continue.
The demand for capital has mainly come from land purchases as domestic developers continue to bid for high-premium plots, said Zhang Dawei, Centaline’s research director.
The 10 developers raised 41.3 billion yuan in capital during the whole of last year, according to figures from Centaline Property Research Center.
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Billionaire property developer Hui Wing Mau the richest debutant on BRW Rich List
Hui Wing Mau is the Chinese billionaire founder and the chairman of Shimao Property, who has made a surprise debut in the BRW Rich 200 list with an estimated $4.8 billion wealth.
He is described as one of the largest property developers in Shanghai.
His inclusion comes after BRW noted the Australian citizenship of the high profile developer, formally known as Xu Rongmao. It has actually been on the public record since 2004 that he holds a Australian passport.
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Central China Real Estate breaks lull with $400 million bond
Henan-based property developer Central China Real Estate last night priced a $400 million five-year high-yield bond, breaking a brief halt in US dollar bond issuance. Asia debt markets have taken a bit of a breather during the past week, thanks to volatile US Treasury yields and underperformance of recent bond issues.
Central China Real Estate is one of the smaller developers in China, but it benefits from sponsorship from Singapore’s CapitaLand. The initial guidance was released at the 6.75% area late Wednesday morning.
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SouFun Appears To Take Its Cue From Shanghai Composite
China-based real estate listings provider SouFun Holdings (SFUN) is having an interesting 2013, so far.
The stock, which trades on the NYSE, appears to be reacting more to the Shanghai composite than to the U.S. market. In a way, this shouldn’t surprise anybody because that’s where the business operates.
So shareholders must keep at least one eye on China.
The Shanghai composite advanced 7% in early 2013 — until the market closed for a week in February for the Lunar New Year festival. While the Shanghai was posting that 7% gain, the S&P 500 and SouFun Holdings added 6% and 5% respectively.
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Consumers more willing to spend in Q1
Chinese consumer spending intentions rebounded to their highest level since the third quarter of 2010 in the first three months of the year, according to a Nielsen report published on Wednesday.
“Instead of calling it a significant increase, we look at it as a ‘back-to-normal’ trend,” said Yan Xuan, president of Nielsen in China, “as consumer optimism in both personal finances and purchase intentions suffered a huge decline in the fourth quarter of 2012, largely due to big fluctuations in the Chinese stock market.”
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