Wang Jianlin Becomes China’s Richest Man With £14bn Fortune – and more of Today’s China Real Estate Links | September 13, 2013

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

• Wang Jianlin Becomes China’s Richest Man With £14bn Fortune

  Wang Jianlin has become the richest person in China, after seeing his personal fortune double over the last year to $22 billion (£14 billion). The 59-year old property tycoon is head of Dalian Wanda Group, one of the largest property developers in China.

  The richest woman in China, Yang Huiyan, has a fortune of $8.3 billion, ranking at number five in the league table.

• China’s Wanda has $5 billion a year for foreign acquisitions

  Chinese property developer Dalian Wanda Group says it can afford to spend as much as $5 billion every year to buy foreign firms or assets, underscoring the rising clout of the firm as it expands abroad.

  Just weeks after completing its buy-out of British yacht maker Sunseeker International Ltd, Chairman Wang Jianlin says that he’s prepared to spend even more than $5 billion in a single acquisition if the right opportunity arises.

• Yuexiu Property wins auction for $1.5 bln Wuhan commercial site

  Chinese developer Yuexiu Property on Thursday won an auction for a site in China’s northern city of Wuhan worth 9.01 billion yuan ($1.5 billion), according to property website focus.cn.

  Yuexiu Property outbid other mainland developers such as Shimao Property Holdings and Financial Street Holdings to build offices, residential buildings and shopping centres in Wuhan, the capital of Hubei province, and one of the most populous cities in central China.

• HK property tycoons hurl discounts at each other in sales war
  

  Hong Kong’s powerful property developers are locked in a price war as measures to cool one of the world’s most expensive real estate markets force them to impose steep discounts to hit sales targets, with many turning to mainland China to fill the gap.

  Developers such as Cheung Kong (Holdings), controlled by Asia’s richest man Li Ka-shing, are even throwing in free car park spaces – which can be worth US$100,000 or more in densely populated Hong Kong – to lure buyers at a time when quarterly transactions are at their lowest level since 1996.

• China growth targets reachable (according to the govt that set them)
  

  Chinese Premier Li Keqiang said Wednesday that he’s confident the government will achieve this year’s economic growth target and reiterated Beijing’s resolve to push ahead with reforms.

  The nation’s economic indicators over the past two months–including gauges of manufacturing activity, industrial output and trade–have all been picking up, Mr Li said, adding that market confidence has improved.

• Global Logistic Properties Leases 22,000 Sqm of Really Big Sheds to Ecommerce Firm

  GLP Park Jiangxia in Wuhan, Central China Singapore, 11 September 2013 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed a lease agreement with Yixun.com (“the customer”), a leading e-commerce company in China. The lease, totalling 22,000 square meters (“sqm”) (237,000 square feet (“sq ft”)) is at GLP Park Jiangxia in Wuhan, Central China.

  Yixun.com has chosen GLP Park Jiangxia because of the park’s proximity to downtown Wuhan and superior accessibility to customers across Central China.

• China industrial output growth hits 17-month high

  China’s industrial production rose at its fastest in 17 months in August, authorities said Tuesday, the latest in a series of better-than-expected indicators pointing to a pick-up in the world’s second-largest economy.

  The main gauge of output at China’s factories, workshops and mines increased 10.4 percent year-on-year in August, the National Bureau of Statistics (NBS) said, the strongest growth since March 2012.

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

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