Asia Pacific real estate investment news and information
Poly Real Estate Group, China’s second-largest property developer by market value, announced on Thursday that its net profits for 2013 surged 27.63 percent year on year to 10.77 billion yuan (1.77 billion U.S. dollars).
The company’s business income rose 34 percent from one year earlier to 92.33 billion yuan last year, it said in a report filed to the Shanghai Stock Exchange.
China’s real estate developers benefitted from a number of factors that made 2013 a banner year for housing sales, and helped drive double-digit growth in housing prices in most of the country’s major cities.
However, most analysts are now predicting more subdued conditions for 2014, including Bank of America, which recently published its prediction for the new year.
It’s been known for some time that China’s real estate developers enjoyed a strong year in 2013. Now that the year is over, however, just how well some of theses property firms performed is becoming clearer.
Data provider China Real Estate Information Corp recently published figures showing that the number of developers with annual sales of more than 100 billion yuan rose to seven in 2013 — up from only three in 2012.
Apple is set to open a new retail store in China on Friday, January 10 at the China Central Mall in the Chaoyang District of Beijing, approximately two miles from the existing Sanlitun Apple Store in Beijing.
The China Central… Read More>>
Which China real estate developers will live or die in 2014? Credit rating agency Fitch believes it has some answers to that question in a newly published report that rates the credit prospects of 22 China property firms.
Consolidation among… Read More>>
45 Chinese property developers, including major players such as Agile Property, Soho China, and China Vanke, have failed to pay at least RMB 3.8 trillion in taxes between 2005 and 2012 according to report on Sunday by CCTV.
The report… Read More>>
Tourists from China having been making an impact around the globe, and now the country’s real estate developers are following them, even as far as New Zealand.
Developer Shanghai CRED Real Estate announced on Friday that it is acquiring the… Read More>>
Not content to merely own a chunk of the GM building in New York, SOHO China CEO Zhang Xin bought a Manhattan mansion recently for US$26 million. Other potential buyers looking at the five bedroom, 19th century townhouse included Brad… Read More>>
The enthusiasm of international private equity investors for China real estate deals made another appearance last week when RRJ Capital of Hong Kong announced a US$50 million investment purchase of shares in Hong Kong-listed real estate developer CIFI Holdings (Group)… Read More>>
Here is a list of the day’s latest China real estate news collected from around the web:
Hang Lung Properties Ltd., (101) the Hong Kong developer that makes… Read More>>
