The Ascott, CapitaLand's wholly-owned serviced residence business unit, is strengthening its market presence in China. In a filing to the Singapore Exchange, the firm said it has secured contracts to manage three properties with more than 500 apartment units in China. The 90-unit Ascott Heng Shan Shanghai is scheduled to open in 2014. Meanwhile, two serviced apartments in Suzhou - the 250-unit Ascott...
China Property
A downtown plot of land in Shanghai has been sold at the highest price this year as a recovery in sales boosted developers' expectations for a market rebound even as the government maintained property curbs. The 1.2 million-sq-ft site near Shanghai South Railway station was sold yesterday for 5.4 billion yuan (S$1.06 billion), according to the local land reserve centre. A group of four companies, led by...
The Urban Redevelopment Authority (URA) has launched the exhibition – Sino-Singapore Tianjin Eco-city: Model for Sustainable Urban Development – to showcase joint efforts between Singapore and China in building a sustainable city. Organised by URA in collaboration with the Sino-Singapore Tianjin Eco-City Investment and Development Co. Ltd (SSTEC), with support from the Eco-City Administrative...
Singapore real estate company CapitaLand has said its growth in China remains on track amid slowing economy and leadership transition in the country. It still expects China to account for 45 per cent of the company's assets in the next three to five years. CapitaLand's outgoing CEO Liew Mun Leong said the company is also in a good position to compete with state-owned enterprises in China. Lim Ming Yan...
Singapore developer Capitaland plans to launch its first value housing project in China in the next few weeks. This will be the company's maiden foray into the middle-income mass housing market and it is expected to be the next driver of growth for the property firm in China. When CapitaLand China released its first high-end homes in Hangzhou for sale last month, some 100 units were snapped up in two...
CapitaLand, through its subsidiary CapitaValue Homes Limited, has acquired its second residential site in Pudong, Shanghai for RMB166.29 million (approximately S$33.26 million). The 36,920 sq m land parcel will be developed into some 700 value homes and offer 15,000 sq m of commercial space. Located in the town of Wanxiang in Lingang New City, the site was purchased through a government tender by...
China has sufficient land supply for residential projects and there are no signs of the market overheating, the Shanghai Securities News reported yesterday, citing an unnamed official from the Ministry of Land and Resources. While the pace of land transactions has picked up in the last two months, the base prices and premiums have been in line with general trends, said the official. In last month and...
China plans to stick to its tight property sector policies and a nationwide rebound in home prices remains unlikely, a senior official at the housing ministry said in remarks published by the state media yesterday. The comments underscore Beijing's determination to keep a lid on rising home prices - a source of social discontent - especially in the run-up to a once-a-decade leadership transition this...
Singapore's City Developments is confident China's residential property market won't crash. And it's waiting for opportunities for hotels to get cheaper for acquisitions. City Developments is planning to launch its first residential development in Chongqing in southwest China next year, should the property market improve. Its confidence in the market is underpinned by a trust that authorities will act to...
The average home price in China's 100 major cities edged up in July for the second consecutive month, reinforcing signs of a recovery in the property market even as the government seeks to spur broader economic growth, a private sector survey showed on Wednesday. The average price of 8,717 yuan (S$1,700) per square metre in the 100 cities surveyed was 0.33 per cent higher than June, accelerating from...