Here is a list of the day’s latest China real estate news collected from around the web:
- CapitaLand says its growth in China remains on track
Singapore real estate company CapitaLand has said its growth in China remains on track amid slowing economy and leadership transition in the country.
It still expects China to account for 45 per cent of the company’s assets in the next three to five years.
CapitaLand’s outgoing CEO Liew Mun Leong said the company is also in a good position to compete with state-owned enterprises in China.
- Chinese developers carry funding search overseas
Gemdale International Holding Co Ltd, a Shanghai-listed property developer, will offer $350 million in five-year corporate bonds with annual yields of 7.125 percent on the Singapore Exchange this Friday, according to a statement released on the company’s website Wednesday.
As government restrictions ramp up financing pressures for local developers, Gemdale is just the latest in a string of mainland property firms moving to shore up funding by placing bonds in offshore capital markets. According to experts contacted by the Global Times, these firms have had little difficulty in recent months attracting foreign investors willing to tap the mainland’s growth picture.
- Hill Selected Construction Manager for $1.4B China Project
Hill International reports it has been selected as construction manager by Rising Sun International Real Estate Venture Investment LLC for its $1.4-billion Taipei City project now under construction in Chongqing, China.
The five-year contract with Rising Sun has an estimated value of $10 million and involves the first phase of the Rising Sun Taipei City project, according to Hill International officials. The development, which got underway several months ago in Xiyong, when completed will involve 11.7 million sf (1.09 million square meters) of built up area and will include a shopping mall, exhibition center, residences and other amenities.
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