Mainboard-listed commodities giant Wilmar International said on Wednesday its wholly-owned subsidiary WCA is bidding for six land sites in Liaoning Province, China. This will be done through a joint bid agreement with two companies - Kerry Properties and Shangri-La China. The sites are designated for residential and commercial use and have a total gross site area of about 566,000 square metres. The...
Overseas Property
CapitaLand said that its China unit sold, over the Christmas weekend, more than half of the units in a high-end residential project recently launched for sale in Beijing. A tower comprising of 220 units at the Beaufort condominium was released for sale on Christmas day. "To date, about 60 per cent of the units have been sold," CapitaLand, which counts on China for about a fifth of its sales, said in a...
The developer of Medini, the flagship site under Malaysia's Iskandar Development Region in Johor, is stepping up efforts to attract investments. A sales and marketing programme will officially kick off in the first half of 2011, in neighbouring Singapore and one of the key targets will be small and medium enterprises. The company in charge of developing the site, will also look at other ways to boost...
Runaway private housing prices compelled governments to impose cooling measures, with varying results Asia's residential property market stole much of the limelight this year as concerns of record property prices spurred government intervention in the form of repeated cooling measures. Singapore, China and Hong Kong were among the jurisdictions that have introduced anti-speculative measures to cool down...
Property firm City Developments (CDL) says it is looking at up to seven property projects in China. And its wholly-owned Chinese subsidiary CDL China believes that these projects have a strong chance of coming to fruition. Analysts say that China's recent property cooling measures may actually lower the barrier for foreign developers to enter the market. Many are confident that China's property market...
Pan Pacific Hotels Group yesterday announced that its wholly-owned subsidiary, Success City, had agreed to acquire Hilton Melbourne Airport Hotel in Australia for about $141.6 million as part of its regional expansion plans. Pan Pacific, part of the UOL Group, said it planned to manage the 276-room hotel under its Park Royal brand. The acquisition could, through economies of scale and greater brand...
The Chinese division of Singapore-listed City Developments Limited (CDL) has acquired its first development site in Chongqing, China, for 232 million yuan (about S$45 million). CDL China, which was formed in August this year, was awarded the residential site at a government land auction last Wednesday. CDL said the plot has a site area of more than 27,000 square metres, and is located on a historical...
Prices for luxury residential property in Hong Kong are likely to fall over the next quarter as investors turn to commercial properties after the government imposed harsh measures to cool the housing market, industry executives said. Hong Kong, which has some of the most expensive apartments in Asia and is home to property tycoons such as Li Ka-shing and Lee Shau-kee, has seen luxury home prices exceed...
Rising consumerism fuelling demand for more quality malls It is a typical evening after work - groups of fashionably-dressed office women walk into a ZARA store for some retail therapy and to de-stress after a hard day's work. After trying the latest in women's fashion, they walk out with happy smiles and paper bags of their purchases in hand. This scene is played out every night - except that it is not...
According to property investment house Pacific Star Group, Singapore and Hong Kong are Asia’s most attractive markets for real estate investment. Pacific Star ranked 11 markets in Asia based on several factors including economic outlook, expected total returns, projected property vacancy rates, ease of doing business and socio-political stability. It found that Singapore and Hong Kong got the highest...