According to the South China Morning Post, ambitious expansion plans by small and medium towns across China have lead to the creation of more than 3,500 “new areas” for residential and economic use raising fears many are destined to become ghost towns. The combined projected population of these new areas is an “impossible” 3.4 billion […]
Category: Property
Billionaire Wang Jianlin is facing hurdles in his buyout bid for Dalian Wanda Commercial Properties Co., which could be the biggest privatization Hong Kong’s ever seen, after $460 billion Dutch fund, APG Groep, said the offer is too low. APG hasn’t made a decision on which way it will vote on the $4.4 billion transaction, […]
China Vanke, the mainland’s biggest property company by sales, said it will acquire a unit of Shenzhen Metro Group for RMB 45.6bn ($6.9bn) via a new share issue, making the state-owned subway operator its largest shareholder, Reuters reports. The final purchase price came at the lower end of the RMB 40bn to RMB 60bn guidance […]
With housing prices in China’s larger cities again rising rapidly, frothy bids for land parcels are back. On June 8, Logan Property Holdings Co. agreed to pay RMB 14.1bn ($2.14bn) for a piece of land in Shenzhen’s Guangming district, the largest-ever price tag in the southern Chinese city. According to The Wall Street Journal, moves […]
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China housing sales rise
China’s housing sales in the first five months of the year continued to rise, though at a slower rate after some of the larger cities started to tighten property measures to cool prices. Housing sales rose 53.4% from a year earlier to 3.18 trillion yuan ($482.5 billion) during the January-to-May period, according to data released […]