Three more Chinese local governments announced the abolition of all home purchase restrictions on Thursday, bringing to more than 30 the number of local governments that have done away with the measures in a bid to revive their flagging home… Read More>>
Shui On Sells $439M in Hotels to Older Brother’s Company
China’s real estate downturn continued to put pressure on Shui On Land this week as the troubled developer sold two hotels worth a total of RMB 2.7 billion ($439 million) after posting worse than expected financial results. Luckily, for Shui On… Read More>>
Zhejiang Developers Now Guaranteeing That Prices Will Go Up
The problem with China’s real estate market in 2014 is confidence, and whether there is too much confidence or not enough of it may depend upon which side of a deal you are sitting on.
Developers in Zhejiang – one… Read More>>
Shanghai Project Frozen By Courts as Developer Can’t Pay Bills
The credit problems of China’s real estate industry spread into its first-tier cities recently when a 220,000 square metre development project was halted by the courts after the developer ran out of cash.
The suspension of the mixed-use project belonging… Read More>>
Hangzhou Developer Arrested After Loan Default and Fraud Reports
China’s real estate industry and the shadow banking network that it relies on received a collective black eye this week when a Hangzhou developer first defaulted on loan payments, and was later arrested on fraud allegations surrounding RMB 2 billion… Read More>>
Wahaha Goes Boohoohoo in Hangzhou Mall Default
Leasing out retail space is as easy as selling colored sugar water to babies, or at least it looked that way to China beverage magnate Zong Qinghou when he opened his first Waow Plaza mall in Hangzhou in 2012.
Now… Read More>>
Shui On Land Sells Hangzhou Project After Sales Dive 56%
Troubled real estate developer Shui On Land took a small step towards shoring up its cashflow recently when it sold its Xihu Tiandi retail development to a Hong Kong investment firm for an undisclosed sum.
According to an announcement to the… Read More>>
Greentown Chief Blames Govt as He Sells Stake in Developer
The chairman of a Hangzhou-based real estate developer blamed “stupid officials” for the hard times that have forced him to sell out his controlling stake in Greentown China to Sunac Holdings, in a transaction valued at HK$6.3 billion (US$813 million).
Home Price Growth Slows to 6.7% As China Real Estate Slide Continues
Official figures released this week indicate that housing prices in China continue to cool down, although a majority of the country’s largest cities still see prices rising.
According to the latest survey by China’s National Bureau of Statistics, average home… Read More>>
Greentown Selling Shares to Sunac Amid Market Slowdown
While China’s real estate market slump has meant trouble for some investors, many companies continue to see it as an opportunity to shop for deals that might never be available in a bull market.
Tianjin-based developer Sunac is taking advantage of… Read More>>