Here is a list of the day’s latest China real estate news collected from around the web:
- Construction starts on Shanghai Bund International Financial Centre
Construction has started on the Shanghai Bund International Financial Centre in China. When completed, the project will total 420,000m2 of new build and include a hotel, cinema, central plaza and retail mall as well as two commercial towers.
- LME Wants Warehouses in China as Asia Growth Lifts Demand
The London Metal Exchange, the biggest marketplace for industrial metals that’s set to consider takeover offers next week, wants to expand its warehouse network into China, the largest user of base metals including copper. “We would love to be able to put LME delivery points, LME warehouses into China, which we think would be a big benefit to the Chinese industry and LME,” Chief Executive Officer Martin Abbott said in a Bloomberg Television interview today.
- Vanke Transaction Value Drops 54.8% in April
China Vanke (000002,200002) recorded 6.18 percent year-on-year and 54.83 percent month-on-month drops in transaction value to 7.44 billion yuan in April, reports Yicai, citing a company filing. Transaction area rose 11.6 percent year-on-year to 767,000 square meters in April. Compared with March, transaction area fell 43.28 percent.
- Finnish Fashion Brand Marimekko Plans China Stores
The Finnish fashion house and textiles designer Marimekko celebrated the opening of its first retail store in Hong Kong on Thursday. The company intends to open its next outlet in Shanghai as soon as suitable premises are found. The plan is to open another 13 Marimekko stores in China by the end of 2016, according to Marimekko’s press release published on Thursday.
- Harry Winston Brings the Bling to China
Having conquered Hollywood, Harry Winston Diamond (HWD) is rolling out its red carpet all the way to China. The luxury brand last weekend opened its first flagship there with a free-standing, 5,800 square-feet salon in Shanghai’s glitzy Xintiandi shopping district, with cameras popping and the stars of TV’s “Gossip Girl” in attendance.
- Housing prices decline by 0.7% in big cities in April
Average home prices in 100 Chinese cities fell 0.71 percent year-on-year in April, the first year-on-year drop since June 2011, the country’s largest real estate website said on Wednesday. The prices fell 0.34 percent month-on-month, the eighth consecutive fall, according to the China Real Estate Index System, which is affiliated with SouFun Holdings Ltd.
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