GuocoLand China, the Chinese property arm of Malaysian tycoon Quek Leng Chan, continues to be bullish on China despite the various curbs imposed by the authorities in their attempts to cool the property market there. In fact, it is so confident that prices will continue to remain high, that it recently bid for a piece of land in Shanghai's Putuo District at a price even above those it obtained when it...
China Property
Home prices in China's major cities soared by more than a fifth last year, private research showed yesterday, painting a picture at odds with official data following repeated government efforts to tame the red-hot sector. Prices in Hangzhou rose the most, by 47.1 per cent, followed by 37.9 per cent in Chongqing and 37.1 per cent in Beijing, according to the China Real Estate Index System (CREIS), run by...
Wilmar International said on Wednesday it has won the bidding for six land sites in China's Liaoning province for a total of US$204.4 million in partnership with two Hong Kong firms. The bids were won by a consortium formed by SGX-listed Wilmar with Kerry Properties and Shangri-la Asia. All three firms are linked to Malaysian billionaire Robert Kuok. Wilmar is the the world's largest-listed palm oil...
CapitaLand said that it is set to develop its second Raffles City integrated development in Shanghai. It is the seventh Raffles City project in China. Raffles City Changning, as the development has been named, will be located in Shanghai's Changning District, near the Hongqiao Transportation Hub, according to the announcement. The integrated development will consist of a Grade A office tower and a...
Keppel Land has secured a 17.2 hectare site within the main city of Nantong, Jiangsu province in China, for S$202 million. The lakefront residential development will be Keppel Land China's first property development in Nantong. Keppel plans to target the high income segment for the development, which will comprise about 1,000 homes. The first phase is expected to be launched in the first half of...
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...
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...
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...
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...
Residential property prices in China's 100 key cities rose 0.8 per cent last month from a month earlier, according to the China Real Estate Index System (CREIS). Shenzhen stood out as the city with the highest average property price at 24,601 yuan ($4,840) per sq m, followed by Shanghai, Beijing, Hangzhou and Sanya, the private data provider said. Housing prices in the country's 10 most expensive real...