Here is a list of the day’s latest China real estate news collected from around the web:
Chinese property-and-entertainment conglomerate Dalian Wanda Group Corp., run by the country’s richest man, has postponed a plan to issue international bonds because of poor appetite from investors and market volatility, according to people close to the deal.
The company’s property unit, Dalian Wanda Commercial Properties Co., had planned to issue a five-year, dollar-denominated bond with a yield of around 4.5%, or 3.25 percentage points above comparable U.S. Treasurys, according to the people. It planned to issue the bond through its offshore subsidiary in Hong Kong.
The mainland’s big property developers are mobilising their huge cash balances to take strategic stakes in domestic banks.
The moves are seen by analysts as a way to secure control of funding sources both for themselves and individual home-seekers who want to buy their properties, as well as a diversification of their assets to sustain profit growth.
China Vanke, the nation’s largest developer by market value, caught the market’s attention with an announcement on October 30 that it would acquire 883.99 million shares in the US$1.3 billion initial public offering of Anhui-based Huishang Bank.
Ted Baker, which has doubled its number of stores in China from two to four in the past month, is hoping Chinese consumers will hop on the affordable luxury bandwagon.
Since opening its first China store in Beijing a little over 12 months ago, Ted Baker has wasted no time following up with two stores in Shanghai and a concession in Beijing’s newly opened Galeries Lafayette department store. The British company, which got its start as a men’s shirt specialist in Glasgow 25 years ago, plans to eventually roll out 10 stores across tier-one, and perhaps some tier-two, cities.
SouFun Holdings Ltd. (SFUN.NYSE), operator of China’s biggest real estate website, launched its new one-stop mobile app on Wednesday.
According to an announcement on SouFun’s webstie, the new app combines SouFun’s earlier mobile services, WeChat which is an Internet-based smartphone chatting tool, and Sina Weibo, a Chinese Twitter-like microblog, to present latest housing information to users.
E-House Holdings’ (EJ) outstanding third-quarter results drove its stock up as much as 15% early Wednesday in heavy trading, to the highest price in more than two years.
The Chinese real estate company earned 14 cents per share in Q3, reversing a 7-cent a share loss a year ago, meeting expectations.
E-House revenue surged 43% to $195.7 million, topping forecasts of $172.2 million, as its real estate service sales popped 85% to $97.4 million, offsetting a weaker 10% rise in its primary real estate agency sales.
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