Soho China Raises $1 Bln In Debt Sale – and more of Today’s China Real Estate Links | November 2, 2012

Here is a list of the day’s latest China real estate news collected from around the web:

• China home prices rise for 5th month in Oct

  Average home prices in China’s 100 biggest cities edged up for a fifth straight month in October, a private survey showed, adding to evidence of a mild recovery in the property market and frustrating government efforts to temper steep prices.

  Average home prices rose 0.2 percent to 8,768 yuan ($1,400) per square metre in October, keeping pace with September’s increase, the China Real Estate Index System said on Thursday.

• China’s factories show growth as PMI goes positive

  The pace of factory activity in China picked up in October for the first time in three months, according to data released Thursday by the National Bureau of Statistics.
  China’s official purchasing manager’s index jumped to 50.2 in October from 49.8 the previous month, the government said. Any reading above 50 indicates that factory conditions are improving in the manufacturing sector.

• Chinese Billionaire Power Couple’s Soho China Raises $1 Bln In Debt Sale

  Soho China, the Beijing real estate developer controlled by celebrity billionaire couple Pan Shiyi and Zhang Xin, has raised $1 billion in a note sale, the Hong Kong-listed company said in a statement today.

  Soho has sold $600 million of five-year notes that will pay investors 5.75%, and $400 million of 10-year notes that will pay 7.125% annually. The debt , to be listed in Singapore, will be used for general corporate purchases, the company said.   Soho has an investment portfolio of 1.7 million square meters of real estate, measured in gross floor area.

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