China's real estate market problems are worse than those in the United States before the global downturn, a central bank adviser has warned. "It is more than just a bubble problem," said Mr Li Daokui, a member of the People's Bank of China's monetary policy committee. "The housing market problem in China is actually much, much more fundamental, much bigger than the housing problem in the US and United...
China Property
Enormous investment opportunities lay in the emerging superpower, says Cityscape Asia 2010 China holds enormous opportunities for investment as its economy surges, say leading economists and investment experts at Cityscape Asia 2010 in Singapore yesterday. Speaking at a keynote session on evaluating the economic outlook for China 2010 and beyond, David Wong, Chief Economist at Shui On Land, said the...
Singapore construction firm Tiong Seng Holdings has signed a deal to jointly develop up to three plots of land in Tianjin Eco-City. It will be working with the property's master developer, Sino-Singapore Tianjin Eco-City Investment and Development Co, and Japanese firm Mitsui Fudosan Residential Company. The joint venture deal is worth 4.5 billion renminbi. Tiong Seng holds a 9 percent stake or about...
Mainboard-listed Chinese developer Yanlord said today that its first quarter net profit fell by 23 per cent on-year to S$18.7 million. The decline in profit follows a 7 per cent drop in revenue from the year ago period to S$173.1 million. Yanlord says the decrease in revenue was mainly attributable to a reduction in the gross floor area delivered over the period. Other than seeing a fall in revenue, the...
China's inflation has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate. Consumer prices rose 2.8 per cent last month from a year earlier, the fastest pace in 18 months, while real estate prices jumped 12.8 per cent, the statistics bureau said yesterday. Meanwhile, new...
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...
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...
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...