A subsidiary of WBL Corporation, or Wearnes, has entered into a joint venture agreement with China firm Suzhou Industrial Park Genway Development, or Genway. In the deal, Wearnes subsidiary Shenyang Huaxin International Realty Co will acquire a 78 per cent stake in Suzhou Industrial Park Jian Wu Heng Ye Property Development for RMB400 million. The remaining 22 per cent will be held by Genway, a...
Overseas Property
The Sino-Singapore Tianjin Eco-City Investment and Development company has signed three more industrial land deals involving more than S$202.7 million (1 billion yuan) in investments. The company also announced strategic collaborations with three leading companies in the eco technology field which would help Tianjin Eco City to achieve its targets and lay the foundation for further economic development...
Visible progress has been achieved in the Tianjin Eco-city project, a joint collaborative effort between Singapore and China. Singapore Minister for National Development Mah Bow Tan made the observation, after co-chairing the 5th meeting of the Sino-Singapore Tianjin Eco-city Joint Working Committee earlier Wednesday. During a visit to the Tianjin Eco-city, Mr Mah said that the joint development is well...
Hong Kong's so called "cage men" may be among the city's poorest, but rents per square foot for their dingy wire-mesh cubicles are now on a par with luxury flats in the city's famed Peak district. With Hong Kong's property prices having soared over the past year and urban redevelopment shrinking the supply of older, cheaper tenement blocks, thousands of cage men still dwelling in 15-square-foot cubicles,...
China's moves to rein in soaring real estate prices appear to be cooling demand in the red-hot sector, reducing the risk of the market overheating and derailing the booming economy, analysts say. In the past two weeks, the government has introduced a range of measures aimed at curbing rampant speculation and spiralling prices, but analysts warn the rules can be skirted easily by buyers looking to make a...
Leveraged developers, rather than end buyers, are the most likely source of risk for real estate in China. And Citi says China's efforts to rein in its property price bubble are unlikely to affect other sectors, thanks to the government's effective control over policy. Momentum in China real estate continues to build. Citi says while the signs of a bubble are clear, the greatest risk within the market...
Mainboard-listed IPC Corporation has bought a 77-unit uncompleted condominium project in Tokyo for about S$21 million. IPC said it has also agreed to pre-sell the units to two unnamed Japanese real estate companies when the project, named Uraga, is completed. The company said the project's foundation level has been completed and the building is scheduled to be completed in February or March next...
China's recent steps to cool its property market have taken the shine off China-linked property counters in Singapore, with analysts seeing limited upside for many stocks. For now, experts prefer property stocks with more Singapore-based portfolios. They said these currently offer more potential growth, thanks to exposure to hot sectors like residential and hospitality. China has been clamping down on...
CapitaLand said it has dissolved an indirect subsidiary - CapitaLand Sadeco. The company, incorporated in Vietnam had been placed under members' voluntary liquidation. CapitaLand said the dissolution of the subsidiary is not expected to have any material impact on the net tangible assets or earnings per share of the group. Source : Channel NewsAsia – 21 Apr...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, said it has secured a contract to manage its second Citadines serviced residence in Indonesia. The contract was awarded by state-owned enterprise P-T Hutama Karya Persero. But it did not reveal to the value of the contract. Called Citadines Jakarta Rasuna, the 135-unit property is scheduled for completion by next year. It is...