Keppel Land China Expansion to Focus on 5 Key Cities – Today’s China Real Estate Links | November 25, 2013

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

• Keppel Land China Expansion to Focus on 5 Key Cities

  Keppel Land revealed that it plans to focus and scale up in 5 China cities, namely: Shanghai, Beijing, Tianjin, Chengdu and Wuxi. The property developer said it wants to grow its commercial presence in Tier 1 cities while it monitors the residential market for possible new projects and phases.
  As part of its plan to expand into Tier 1 cities in China, Keppel Land cited its ongoing commercial project in Beijing expected to be completed by 2016.

• Guangdong speeds up provincial FTZ plan

  Guangdong Province has accelerated preparations for its own free trade zone and will apply to the central government for approval as soon as possible, Governor Zhu Xiaodan said yesterday.

  Speaking ahead of an international conference on Guangdong’s economic development, Zhu said field surveys and feasibility studies for the proposed Guangdong-Hong Kong-Macau FTZ have been going on for more than half a year.

  While consulting the central authorities, Guangdong has also exchanged opinions with the governments of Hong Kong and Macau, Zhu said.

• Experts question comment on China’s 68 mil vacant house

  Du Meng, chairman of the China Enterprise Capital Alliance, has sparked debate in China following his comments on overcapacity in the country’s property market, claiming there are currently 68 million vacant houses, reports the Chinese-language Beijing News.

  Du told reporters that the 68 million figure is based public statistics available from the central statistics bureau, domestic statistics bureaus, the national land authority and private property information.

• Taiwan sets limits on mainland Chinese real estate purchase

  Taiwan’s Ministry of the Interior announced Friday a set of regulations aimed at restricting residential real estate purchases by people from mainland China, with the total purchases of land capped at 13 hectares and buildings at 400 units per year.

  In addition, long-term total land purchase by Chinese citizens is capped at 1,300 hectares and 20,000 units of buildings, the ministry said in a press release.

• Rise of China’s Property Market Requires Fast Policy Action

  After fiscal and taxation reforms were established at the third plenary session of the 18th CPC Central Committee, Chinese Finance Minister Lou Jiwei stressed in an article on Nov. 19 that the government should accelerate the legislation of levying property tax as part of efforts to control the housing market.

  With the Chinese government failing to control house prices, the market has placed great focus on the real-estate policies discussed at the third plenary session and has predicted that stricter measures will be adopted after the meeting.

This list is updated daily, so tune in again tomorrow for more up to date information.

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