Mainboard-listed Fu Yu Corporation's subsidiary has agreed to sell land-use rights and buildings in a Free Trade Zone in Shanghai. These comprise land-use rights - of an area of 33,280 square metres - which run from 1 March 1996 to 28 February 2046. The deal also includes a 3-storey production-cum-warehouse building with ancillary office of a gross floor area of 8,031 square metres. The total sale...
Overseas Property
Most of the speculative and arbitrage capital from overseas that has entered China in recent months has ended up in the property and equity markets, an official at the country's foreign-exchange regulator said in rare comments as the agency usually plays down the effect of hot money inflows into China. An investigation that began in February has uncovered 190 cases of hot money inflows involving US$7.35...
CapitaMalls Asia (CMA) is buying a Malaysian mall from an associate firm of Metro for S$91.5 million after the Metro unit exercised a put option. The move by Metro's Gurney Plaza requires CMA's CapitaRetail Gurney to buy the property called Gurney Plaza Extension. Located in Penang, Gurney Plaza Extension is a nine storey retail block. It is part of the Gurney Park development and has about 12,500...
The Ascott has invested A$168 million to develop its first Citadines serviced residence in Melbourne. Comprising 380 units, the new Citadines Melbourne on Bourke will be the company's largest Citadines-branded serviced residence in its global network. The launch of Citadines Melbourne further reinforces Ascott's foothold in Australia. It currently has a total of 884 apartment units in eight properties...
Conglomerate Fraser and Neave says its Frasers Hospitality unit has established a significant presence in Malaysia, with the grand opening of its maiden property, Fraser Place Kuala Lumpur yesterday. The project is the first of two serviced residences to open in the heart of the city. Fraser Place Kuala Lumpur is located in the prestigious 'Golden Triangle' and within walking distance of the iconic...
Mainboard-listed conglomerate Fraser and Neave says one of its units has bought a piece of land in Sydney for S$97.8 million. The wholly-owned subsidiary, Frasers Centrepoint, acquired a 13.7 hectare site from the Royal Rehabilitation Centre Sydney. Besides building a 2.3-hectare open space for community use, the approved Concept Plan for the site allows for the development of homes. Almost 800...
Henderson Land Development, the Hong Kong developer controlled by billionaire Lee Shau Kee, was questioned for a seventh time by the government over luxury apartment transactions that spurred efforts to cool home prices and a crackdown on marketing tactics. The Lands Department asked the company to provide copies of title deeds and additional details on how it calculated the interest penalty for late...
Hong Kong billionaire Lee Shau-kee's Henderson Land Development said the sale of 20 luxury apartments has collapsed, ending HK$2.67 billion ($478 million) in deals that sparked a government inquiry and fueled efforts to rein in home prices. Most buyers pulled out of the 39 Conduit Road project in Hong Kong island's Mid-Levels district, Henderson said in a filing to the stock exchange, responding to...
US investment guru Jeremy Grantham has warned Australia is facing a "time bomb" housing bubble that will be set off by rising interest rates, a report said on Wednesday. Grantham, who correctly predicted the financial crisis a year before it hit, said Australian house prices needed to fall 42 percent to reach the long-term trend. "You cannot possibly miss it," he told The Australian newspaper. "The price...
Yanlord Land Group and Ho Bee Investment have acquired six prime residential development sites for 504.6 million yuan or S$102.9 million in Hebei's Tangshan Nanhu Eco-City in China. This works out to an average purchase price of 1,302 yuan or S$265.6 per square metres. The purchase was made through their new joint venture company Yanlord Ho Bee Investments. In a statement, Yanlord Ho Bee said the sites...