Here is a list of the day’s latest China real estate news collected from around the web:
-
China to Blacklist Naughty Real Estate Developers
To rein in the country’s chaotic housing market, ministries under China’s State Council headed by the Ministry of Housing and Urban-Rural Development (MOHURD) have joined forces to write up a blacklist system, dubbed the “joint information system on integrity of realty developers,” which will track irregularities of developers, including land hoarding, default on mortgages, and dubious sales behavior, reports Guangzhou’s Southern Metropolis Daily.
While developers are nervous about the upcoming changes, Vanke — China’s largest developer of residential property — said intensified regulation of the industry’s practices is an unavoidable trend, adding it will ultimately help cut costs via transparent management and regulated operation.
-
China Overseas Land Q3 profit up 3% in Q3
China Overseas Land & Investment Ltd, the country’s largest property developer by market value, posted a 3 percent rise in third-quarter operating profit, helped by strategic pricing in higher tier cities to counter tightening measures.
The state-backed company, which focuses on mid to high-end residential properties, posted an operating profit of HK$6.35 billion ($819 million) in the July to-September period, up from HK$6.15 billion a year earlier, it said in a filing on the Hong Kong stock exchange on Tuesday. -
US$116 Mil in Real Estate Investment Deals in Shanghai During Q3
SHANGHAI’S real estate investment market saw a strong third quarter with money, both domestic and international, continuing to chase diversified properties, major international real estate services providers said.
Seven major investment deals, with a total consideration of 7.1 billion yuan (US$116 million), were concluded during the July September period, according to a latest research released by Savills, a UK-based property consultancy firm.
-
Xinyuan Real Estate Listed on Forbes Asia’s ‘Best Under A Billion’ List
Xinyuan Real Estate Co., Ltd. (NYSE: XIN, “Xinyuan” or “the Company”), a real estate developer with a focus on high growth cities in China, today announced that the Company has been listed on Forbes Asia’s “Best Under A Billion” list in 2013. This is the first year in which the Company debuts on the list.
The “Best Under A Billion” list is published by Forbes Asia to recognize 200 of the best small and midsized listed companies in Asia Pacific with annual revenue under $1 billion. To qualify for the selection, companies must have revenue between $5 million and $1 billion, positive net income and be publicly traded for at least a year. -
CapitaRetail China REIT’s Distributable Income Up 2.1% in Q3
CapitaRetail China Trust Management Limited announced today an increase of 2.1% in distributable income to S$17.1 million for the period from 1 July 2013 to 30 September 2013 (3Q 2013), compared to S$16.7 million over the same period last year (3Q 2012).
This was mainly due to higher revenue growth contributed by better tenants’ sales and higher rental reversions at CapitaMall Xizhimen, CapitaMall Wangjing and CapitaMall Saihan, that offset the absence of contributions from CapitaMall Minzhongleyuan which is currently undergoing asset enhancement works.
-
GLP announces 25k Sqm Lease Deal with Japanese Logistics Co
Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed lease agreements for totaling 25,000 square meters (“sqm”) (269,000 square feet (“sq ft”)) with Deppon Logistics at GLP Park Wangting in Suzhou, Eastern China and GLP Park Hunnan in Shenyang, Northeastern China.
Deppon Logistics is expanding at the parks to meet increasing demand from its consumer goods and e-commerce customers for third-party logistics services throughout China. -
China Home Prices Rise at Record Rates in Four Major Cities
China’s four major cities saw record rise in new home prices in September, stoking fears of a housing bubble.
Prices in Beijing, Shanghai, Shenzhen and Guangzhou saw their biggest jump since the government changed its calculation method in January 2011.
Property remains a popular investment choice in China and prices have now risen for nine months in a row.
Digest powered by RSS Digest
Leave a Reply