Asia Pacific real estate investment news and information
Greenland Hong Kong Holdings Ltd. (337), part of Chinese state-owned Greenland Holding Group Co., announced yesterday that it will partner with fellow state-run developer, China Resources Land Ltd. (1109) to develop a Shanghai site it bought last month for 5.95 billion yuan ($985 million).
According to a statement filed with the Hong Kong Stock Exchange, the two companies will form a 50-50 venture for the site in the city’s Huangpu district.
Shimao Property raised a $600 million seven-year note on Tuesday, joining the flurry of Chinese developers that have tapped the market this year amid tighter onshore banking liquidity and concerns over a potential rise in interest rates.
The Hong Kong-listed group’s transaction on Tuesday – with a callable option in the fourth year – is the longest in duration and lowest in coupon done in the high-yield space so far this year.
China’s real estate industry is on firmer footing compared with a year ago, said Standard & Poor’s Ratings Services in a report on Monday.
Developers registered record sales growth and enjoyed financing windows that led bond issuance to double in 2013. In the past two weeks, more than a dozen municipalities across China have taken steps to cool their markets, as housing prices continued to rise.
The real estate arm of Richard Li’s PCCW announced this week that it is close to selling a Beijing office building for a price put by sources close to the deal at US$900 million, as the Hong Kong princeling follows his father’s lead in selling off China property assets.
The move by Hong Kong based Pacific Century Premium Developments Ltd (PCPD), follows soon after the younger Li’s father, Li Ka-shing sold the Nanjing IFC in eastern China’s Jiangsu province on January 1st
Cofco submitted a binding bid for the stake last month, a person familiar with the transaction said. The stake is worth around US$250 million, but it wasn’t immediately clear how much Cofco will pay.
COFCO, formally China National Cereals, Oils and Foodstuffs Corporation, is China’s largest food processing, manufacturer and trader.
China Investment Corp., the country’s $575 billion sovereign wealth fund, favors European infrastructure and real estate as developed markets will drive the next phase of the global economic recovery.
“Europe has a lot of potential,” CIC Chairman Ding Xuedong said yesterday at a conference in Hong Kong.
The bubble created in Dubai’s real estate market burst in 2008, but the sector is now making a comeback, attracting global investors including those from China, reports Shanghai’s China Business News.
Housing prices in Dubai have surged by nearly 30% over the past year, with Dubai-based real estate developers recruiting salespeople that can speak Chinese
It’s virtually impossible for major Chinese cities to meet their housing price control target set for 2013, experts say.
The prices of newly built housing in the four first-tier cities, namely Beijing, Shanghai, Shenzhen and Guangzhou, kept a 20 percent growth rate from September to November, according to statistics published by National Bureau of Statistics.
Real estate consultancy Cushman & Wakefield today announced the appointment of James Shepherd as its new Head of Research for Greater China.
Based in Shanghai, Mr Shepherd will be responsible for reporting on trends and events in the real estate… Read More>>
Chinese conglomerate Fosun International Ltd. picked up Portuguese insurance firm Caixa Seguros e Saude this week for 1 billion euros ($1.36 billion), marking one of the biggest overseas investments in the finance sector to date by a Chinese investor.
In a sign of China’s growing economic clout, Fosun bested U.S. buyout firm Apollo Management International LLP to acquire the insurance arm of Portugal state bank Caixa Geral de Depositos SA
