Listed developers under pressure to cut inventories – and more of Today’s China Real Estate Links | October 31, 2012

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

• Listed developers under pressure to cut inventories

  Chinese listed property developers are under pressure to decrease the size of their inventories, which have exceeded 900 billion yuan ($144 billion), statistics show.

  The 91 property developers listed on the Chinese mainland had released their results for the third quarter by Sunday, a period that saw the companies’ combined inventory valued at 915.55 billion yuan.

• Laura Ashley to open first store in China?

  Fashion and furnishings retailer Laura Ashley is reportedly in talks to open its first store in China as early as next year.

  The retailer, which operates 211 UK stores and has 263 franchised stores around the world, plans to double its franchise if its entry into China is successful, according to US business magazine Forbes.

• Poly Real Estate gains in Q3
  

  Poly Real Estate, China’s second-largest property developer by market value, had a third-quarter net profit almost doubling the previous quarter due to a reviving housing market, it said in a filing to the Shanghai bourse Monday.

• HK real estate shares tank

  Real estate stocks in Hong Kong plunged by the most in seven months yesterday, as investors locked in profits in the outperforming sector on worries that surprisingly tough new measures to cool soaring property prices will sap demand from non-resident buyers.

  The falls come after the Hong Kong government, echoing similar moves by Singapore late last year, imposed for the first time a 15-per-cent tax on non-resident and corporate property buyers and stiffened resale stamp duty fees in the hope of calming prices, which have surpassed historic highs recorded in 1997.

• 2nd Tesco Lifespace Centre set to open in Xiamen

  Britain’s leading retailer and largest supermarket chain Tesco PLC is poised to join hands with the Xiamen-based property developer Good First ( Fuxin ) Group in order to develop its second Lifespace Shopping Centre in Xiamen.

  With an area of 70,953 square metres, the Lifespace Shopping Centre is located at the junction of Jinhu Road and Xianhuang Road in Wuyuan Bay of Huli District, has already completed its construction and has been officially open to offers of investment since 31st August this year. The center is set to be the largest shopping mall in the northeast of Xiamen Island.

This list is updated daily, so tune in again tomorrow for more up to date information, or subscribe to our daily email news digest to get this delivered to your mailbox.