Here is a list of the day’s latest China real estate news collected from around the web:
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China Vanke Enters Hong Kong Market With HK$3.4 Billion Site
China Vanke Co. (000002)’s Hong Kong unit jointly won a HK$3.43 billion ($442 million) bid for a site in the city, marking the entry into the first new market for the biggest developer listed on Chinese exchanges.
Vanke Property (Hong Kong) Co. and New World Development Co. (17) won the 13,804-square-meter (148,585-square-foot) site by the Tsuen Wan West railway station in the city’s northwest, according to a faxed statement from subway operator MTR Corp. (66) At least 894 apartments, with more than half smaller than 50 square meters, will be built on the site, it said. -
Thai hotelier in joint venture with Chinese developer to launch 10 hotels
Dusit International has joined with Changzhou Qiao Yu Group, a real-estate and hotel developer based in Changzhou, Jiangsu province, to launch 10 hotels in China.
“This joint venture is a long-term agreement between Dusit International and Qiao Yu Group to both expand the Dusit brands in China and grow Qiao Yu Group’s hotel development and management experience,” Chen Libin, chairman of Qiao Yu Group, said yesterday.
“We look forward to a very successful future with this newly formed Dusit Fudu International Hotel Management Company.” Dusit International’s property portfolio now covers nearly 30 hotels, resorts and residences.
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China ETFs are Attracting Cash… and Risk
China’s performing like, well, China again. And its recent stock-market rally been accompanied by a surge in investors cash.
According to Ned Davis Research’s Neil Leeson and Stephanie O’Brien, assets in dedicated China exchange-traded funds have jumped to $12.5 billion dollars and are closing in on levels not seen since July 2009.
Not surprisingly, the ETFs are performing quite well. Leeson notes that there are 21 Chinese-specific funds, and all of them–except for one–continue to show strong relative strength, a measure that compares their momentum to the overall market.
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China PBOC: Outstanding Property Loans up 12.8% at End 2012
Outstanding property loans in yuan by major financial institutions in China rose 12.8% at the end of 2012, the central bank said Thursday, adding to evidence that the country’s property market is recovering.
Outstanding property loans totaled 12.11 trillion yuan ($1.95 trillion) at the end of December, and were 0.6 percentage points higher than at the end of the September.
The loan data adds to earlier housing price statistics, signaling that the Chinese real estate market is recovering. Average housing prices in 70 Chinese cities rose 0.31% on-month in December, the fastest pace in nearly two years, official data showed Friday.
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