Strong Results by Vanke and Sunac Promise a Rebound – and more of Today’s China Real Estate Links | October 11, 2013

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

• Strong Results by Vanke and Sunac Promise a Rebound

  Some of China’s listed property developers have reported strong results in recent days, signaling robust demand in the real-estate sector that could bolster flagging domestic growth.

  China Vanke Co. 000002.SZ +0.21% , the country’s largest property developer by market value, said Wednesday that sales in September totaled 15.57 billion yuan ($2.54 billion), up 29.3% from the same month a year earlier and up 1.9% from August.

  The area sold in September totaled 1.31 million square meters, up from 1.05 million a year earlier, though down a bit from August’s 1.33 million.

• Hotelier Kerzner Pins a Comeback on 1300 Room Hainan Project

  Hotel operator Kerzner International Holdings Ltd. was buried under a mountain of debt when its luxury projects ran into trouble during the financial crisis. Now, it is attempting a comeback with a colossal resort on the “Hawaii of China,” backed by a leading Chinese investor.

  Kerzner, known for giant developments such as Sun City in South Africa and Atlantis in the Bahamas, is expected to announce Thursday that it has reached an agreement with Chinese conglomerate Fosun International Ltd. 0656.HK -0.62% to build a $1.5 billion Atlantis resort on Hainan Island in the South China Sea, according to both companies.

• Mainland Chinese stepping up purchases of California properties

  Mainland Chinese companies and individuals are ramping up purchases of property in California, accounting for an increasingly significant share of real estate deals in the state.

  This according to the South China Morning Post in a story published last Monday, which reported that property agents in San Francisco and Los Angeles fly in groups of Chinese investors, sometimes as many as 50 people in one group, to buy property.
  Robert Pearce, a director of Blackfish, a company that markets real estate here, told the Post that mainland Chinese who have ready cash re buying high end property.

• China developers back in bond action post-Golden week

  China Properties Group, a private real estate developer, on Tuesday raised a $150 million five-year note, with a callable option in the third year, in the face of weaker Asian markets as sentiment continued to be hit by the US government shutdown dragging into its ninth day.

  The company is the first Chinese developer to hit international bond markets after a week-long national break – also known as the ‘Golden week’ – which ended on October 7.

• GLP plans China warehouse expansion

  Global Logistic Properties (GLP), the mainland’s biggest modern warehouse operator, plans to increase space at new projects by up to 25 per cent annually in the next two years as e-commerce grows and retail chains expand.

  The company, part-owned by Singapore’s sovereign wealth fund, GIC, is beginning construction of 2.5 million square metres of warehouse space in China this year, compared with two million square metres a year earlier, chief executive and co-founder Ming Mei said yesterday.

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

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