Here is a list of the day’s latest China real estate news collected from around the web:
Sunac China Holdings Ltd. (1918), the Chinese developer part-owned by buyout firm Bain Capital LLC, expects to exceed its sales target this year as demand remains strong even amid the nation’s property curbs, Chairman Sun Hongbin said.
The Tianjin-based homebuilder in January forecast 45 billion yuan ($7.3 billion) in sales for 2013. Net income can grow this year as Sunac’s adequate cash holdings allow it to avoid price cuts and maintain gross margins, Sun said in an interview in Beijing, without giving forecasts.
China Vanke the country’s largest real estate developer said on Monday it sold 12.4 billion yuan ($2 billion)of property for the month of April, up 67.6 percent from the previous year.
The company’s January to April sales came in at 56 billion yuan on 4.8 million square metres sold.
Last month the company posted a 16 percent rise in first-quarter profit on the back of strong sales.
An interesting new trend has major Chinese firms financing their global expansions with mega bond offerings, with leading brokerage Citic Securities (6030.HK; Shanghai: 600030) and oil exploration giant CNOOC (0883.HK; NYSE: CEO) becoming the latest to tap international debt markets. This kind of overseas mega bond issue isn’t really new for Chinese firms, as many in sectors ranging from telecoms to real estate have issued similar corporate debt in the past. But what’s new now is that these latest offers are coming from companies that have made major acquisitions over the last year, and now they’re testing the markets to see if bond buyers will help to pay for those assets.
Although there has been frequent mention about China’s growing soft power, it is equally important that it takes steps to harness more soft assets, a top industry official said.
“It is high time that China starts focusing more on soft assets such as education and research at colleges and universities,” said Roger Dassen, global managing director, clients, services and talent, Deloitte Touche Tohmatsu Ltd.