Here is a list of the day’s latest China real estate news collected from around the web:
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China’s Aug. Inflation Rate Rebounds to 2 Pct
China’s consumer price index (CPI), a key gauge of inflation, rose 2 percent year-on-year in August, accelerating from a 1.8 percent growth in July, the National Bureau of Statistics (NBS) said Sunday. The slight rebound was mainly driven by food price hikes as heavy rains affected vegetable supply and global grain prices went up, said analysts. Food prices, which account for nearly one-third of the weighting in the calculation of the country’s CPI, climbed 3.4 percent in August from a year earlier, faster than a 2.4 percent increase in July, the NBS said.
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TCT’s Barrett buying China assets in instalments
Embattled Irish real estate investor Richard Barrett is paying in instalments for the Chinese companies he controversially bought from Treasury Holdings last week. Embattled property giant Treasury Holdings agreed to sell two Chinese subsidiaries to Mr Barrett for €2.26m last week, just as the company faced liquidation at the hands of creditor KBC Bank. Mr Barrett is one of the two owners of Treasury, along with businessman Johnny Ronan.
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UGL to bid for China’s infrastructure projects
Engineering and property services company UGL plans to bid for China’s domestic infrastructure projects, said Richard Leupen, managing director and CEO of the company. Despite the economic slowdown in China, UGL believes in the long-term potential of the country, said Leupen. Leupen said that UGL will continue to increase its business in China and will bid for services projects in roads, airports and other infrastructure projects. UGL acquired global real estate services company DTZ in December 2011.
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