A consortium led by CapitaLand is pumping in 21 billion yuan (S$4.3 billion) into developing a prime site in Chongqing, China. It has signed a cooperation agreement with the Chongqing government. Under the deal, the CapitaLand-led consortium will develop the site in the heart of Chongqing's Yuzhong District into a landmark mixed development. The development, located on a prime site in Chaotianmen, will...
China Property
China may look to roll out its property tax scheme to the cities of Guangzhou, Nanjing, and some second and third tier cities in the country's midwest, the Shanghai Securities News reported on Friday, quoting a government researcher. The government "won't rule out the possibility of implementing the tax" in Guangzhou, Nanjing, and second and third tier cities in the midwest region, said Mr Jia Kang, head...
CDL China Ltd, a wholly-owned subsidiary and the China division of Singapore's City Developments Limited (CDL), has acquired its third site in the past 13 months. The land is located in the southwestern city of Chongqing and has a gross floor area of approximately 1.2 million square feet. CDL said it is zoned for residential and commercial purposes. The company plans to build 900 residential units and a...
China's home prices fell for a fourth month in December as the government prolonged a crackdown on speculation that risks deepening the slowdown in the world's second-biggest economy. Property values in 100 major Chinese cities dropped 0.25 per cent to 8,809 yuan (S$1,800) per sq m in December from November, according to the China Real Estate Index System and online real-estate brokerage SouFun...
Some local governments in China are considering measures to fine-tune property curbs and may propose these tweaks during next year's National People's Congress, the 21st Century Business Herald reported yesterday. While key cities such as Beijing, Shanghai and Qingdao have decided to extend home-purchase limits and continue property-tightening measures next year, other local governments are mulling...
China must maintain its policy stance against property market speculation to drive money back into the real economy or else it faces the risk of home prices rebounding, senior government economists wrote in comments published yesterday in the official People's Daily. A range of government curbs slowed property transactions sharply in October and put a cap on housing price inflation but data released...
Chinese home prices are at a turning point and banks are concerned about a possible chain reaction if they fall by 20 per cent, the central bank said yesterday. "Real estate investment growth eased, developers' cash flows tightened, land transactions and prices fell," the People's Bank of China (PBOC) said, adding that "there are early signs that property prices are at a turning point." Chinese home...
Housing prices in 100 major cities in China dropped on a monthly basis for a third consecutive month in November and posted their biggest month-on-month decline this year, according to the privately compiled China Real Estate Index System (CREIS). The decline provides further evidence that the government's two-year tightening campaign is cooling the property market amid signals it is now trying to slow...
A consortium led by property giant CapitaLand, CapitaMalls Asia and Temasek unit Singbridge will spend about 21 billion yuan (S$4.1 billion) on a mixed-use development in Chongqing, China, after it won the tender yesterday for the site in the world's largest city. Lead developer CapitaLand said this as it announced plans to turn the property on the banks of the Yangtze and Jialing rivers into something...
A property consortium led by CapitaLand, CapitaMalls Asia and Temasek unit Singbridge Holdings has won the tender for a mixed development site in Chongqing, China. CapitaLand said it hopes to develop the property like ION Orchard, Raffles City or Clarke Quay. The Chao Tian Men site will be developed into a shopping mall and will also have eight towers. The towers will have a hotel, residential units,...