Hong Kong’s MTR Corporation, is said to have launched a tender for a lot in the New Territories that could carry a land premium of HK$2.7 billion ($344 million) in what will be Hong Kong’s largest residential estate.
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Beijing Approves Sale of RMB 100k Per Square Metre Homes
Beijing’s city government announced pre-sale approvals for two new — and record-breakingly expensive — real estate projects in China’s capital.
According to a report in the South China Morning Post, a permit was issued on Sunday for a project in the city’s Chaoyang district to begin selling units with prices as high as RMB 100,537 per square metre, with the cheapest units being priced at RMB 53,072 per square metre.
China Developer Poly Real Estate Reports 27 Percent Profit Jump
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.