Here is a list of the day’s latest China real estate news collected from around the web:
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Asia Hotel Revenues Could Soften This Year
The Asia Pacific region is on track for another record year of international tourist arrivals in 2013, according to a report released today by Cushman & Wakefield, the world’s largest privately owned real estate firm.
The Asia Hotels View 2014, an annual publication covering a clinical assessment and outlook of the hotel market performance in 23 cities across Asia, revealed that estimates showed an 8% growth year-on-year in the first half of 2013. Last year, 221.5 million international tourists visited Asia, which was 7.2% higher than in 2011.
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China Housing Sales Show Signs of Slowing Down
China’s housing sales weakened slightly in October from September amid a tighter credit environment and stepped-up property controls by some local governments, and the sales momentum could ease in coming months, analysts said.
Property developers have reported record sales growth in the past two months, a seasonally strong period for home purchases, but China is unlikely to experience such strong sales going into 2014 because of constraints in supply.
On a month-on-month basis, residential property sales totaled 604.8 billion yuan (US$99.3 billion) in October, down 12.5% from the CNY691.1 billion recorded in September, when they rose 34.3%, calculations from official data showed.
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Developer Evergrande Dives into Bottled Water
Chinese real estate developer Evergrande Group unveiled its new bottled water on Sunday, a move which experts said on Monday Evergrande had chosen a good occasion for though it would still face challenges in cross-industry investment.
Several sports celebrities helped launch “Evergrande Spring” bottled water Sunday at a press conference including Italian soccer coach Marcello Lippi, who is also coach of Evergrande’s soccer team, and European soccer star Luis Figo, according to the Weibo account of Evergrande Spring.
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Prologis Launches China Joint Venture with Capacity of Over USD $1 Billion
Prologis, Inc. (NYSE:PLD), the leading global owner, operator and developer of industrial real estate, today announced the formation of Prologis China Logistics Venture 2. Theventure’s investment strategy is to build, acquire and manage logistics properties in its global markets in China.
This venture follows Prologis China Logistics Venture 1 which was formed in March 2011. As with the first venture, Prologis will be partnering with HIP China Logistics Investments Limited.
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Data blitz shows China economcy in better state than expected
China entered the fourth quarter on a stronger-than-expected footing, according to a flurry of data released over the weekend, with the world’s number two economy appearing to defy expectations for a slowdown in the final quarter of the year.
The economic figures showed growth in industrial production, retail sales and fixed asset investment powering holding up in October. Meanwhile, export data published last Friday indicated a rebound in shipments in the same month.
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Century 21 China Real Estate Appoints Steve Ye as New CFO
Century 21 China Real Estate today announced the appointment of Mr. Steve Ye as the Company’s new chief financial officer, effective November 11, 2013.
Before joining Century 21 China Real Estate, Mr. Ye served as chief financial officer of Tiger Media (NYSE MKT: IDI), a nationwide leading multi platform media company. Prior to joining Tiger Media, Mr. Ye worked at Suntech (NYSE: STP), one of the world’s largest producers of solar panels, as finance director. -
China Reins in Shadow Banking as Leaders Meet to Set Policy
China’s broadest measure of new credit fell by more than estimated in October, suggesting authorities are trying to keep shadow-finance risks in check as leaders map out a blueprint to sustain growth.
Aggregate financing was 856.4 billion yuan ($140.6 billion), the People’s Bank of China said yesterday in Beijing, below all nine projections in a Bloomberg News survey.
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