In today’s roundup of regional news headlines, Wing Tai buys out the remaining stake in several jointly owned properties in Australia, the HKEX freezes trading of 33 firms’ shares on earnings delays, and Societe Generale reportedly relocates at least a… Read More>>
Societe Generale Joins Crowd of Foreign Banks Handing Back Hong Kong Office Space
French bank Societe Generale is reducing its footprint in a Hong Kong commercial tower under the terms of its upcoming lease renewal, joining a parade of foreign finance giants cutting back in the city as mainland firms expand their role… Read More>>
Deloitte Foresees Downward Cycle for Mainland Developers
Despite the increase in their average total revenue, nearly 60 percent of listed mainland real estate companies in Hong Kong, Shenzhen and Shanghai registered a decline in net profit margin during 2012, reflecting the beginning of a profitability down… Read More>>
Real Estate Investment Slows as Govt Tightens Credit
Despite stories of rocketing prices, China’s enthusiasm for real estate — at least domestically — may be cooling off. Analysts now predict that investment in China’s property industry may only reach 15 percent in 2014, a major drop-off from the 19.8 percent expansion that the sector enjoyed in 2013.
In a report in the South China Morning Post (SCMP) today, Wei Yao, China economist at Societe Generale in Hong Kong, noted, “Further investment growth deceleration seems quite certain to us, which is, however, a necessary step towards a more balanced economy.”