HK land parcel sold for US$ 1.33 billion at auction
A land parcel in Hong Kong’s most expensive residential area was sold for US$1.33 billion or HK$10.4 billion in a government land auction yesterday, boosting one of the world’s luxury property markets.Unlisted property developer Nan Fung Group offered the highest bid for the...
Continue Reading • 29 Jul 2010
300 units sold at Larvotto project in HK
Property developer Sun Hung Kai Properties has sold 300 units at its Larvotto project in Hong Kong over the past two weekends.Sun Hung Kai and its partners, Paliburg Holdings Ltd and Kerry Properties Ltd, have brought in a total revenue of HK$8 billion (S$1.4 billion) from the sale, said Victor...
Continue Reading • 27 Jul 2010
Final call for entries to MIPIM Asia Awards 2010
MIPIM Asia has announced the final call for entries to the MIPIM Asia Awards 2010, with the deadline for submission set at August 6.Launched in 2007, the MIPIM Asia Awards is now in its fourth year, paying tribute to outstanding projects in the Asia Pacific, for their architectural, technical and...
Continue Reading • 23 Jul 2010
China to improve policy measures
Chinese Premier Wen Jiabao has announced that China will improve its policy measures to stimulate consumption for the second half of the year while balancing inflationary pressures.“Regardless of whether the aim is to solve long-existing systemic and structural problems or to solve urgent...
Continue Reading • 23 Jul 2010
Flat prices in Beijing increase to 22 times income levels
According to Chinese state media, a typical flat in Beijing costs around 22 times the average incomes in the city, emphasising one of the challenges faced by China in providing affordable housing amidst a boom in the property market.According to the news report, a 90-sq-m apartment unit in...
Continue Reading • 20 Jul 2010
92 units at Larvotto project sold at HK$40m each
Another 50 luxury units in Hong Kong will be released for sale by the world’s biggest property developer by market value – Sun Hung Kai Properties Ltd – after homebuyers purchased all 92 units from its first batch put up for sale over the weekend.The property developer said...
Continue Reading • 20 Jul 2010
Marcus Evans organises summit
Leading business information company marcus evans recently organised the Asian Infrastructure & Property Development Summit 2010 in Macao, China. Held at the Four Seasons Hotel from 5 to 7 July, the event highlighted the current challenges and opportunities in the industry through case...
Continue Reading • 20 Jul 2010
S'pore investment projects in the UK increase by 50 percent
The number of Singaporean investment projects in the United Kingdom has increased by 50 percent in 2009 – from eight to 12 projects – in spite of the global economic downturn.Some of the projects were from well-known Singapore companies, such as ST Engineering, UOB and OCBC.This was...
Continue Reading • 15 Jul 2010
China housing bubble a major concern
The housing bubble in China has been a serious concern for the last ten years, with the current average house price in big cities such as Beijing and Shanghai reaching more than 25,000 yuan (S$5,100) psm, compared to approximately 5,000 yuan a decade ago.The Chinese housing market has gone...
Continue Reading • 14 Jul 2010
Malaysia's Iskandar wooing Singaporean investors
Malaysia's economic region Iskandar expects a strong investment flow from Singapore, in spite of an expected economic slowdown in H2 of this year.Puan Arlida Ariff, CEO of Iskandar Investment, hopes the improved bilateral ties will attract Singapore investments.Spanning over 2,200 sq km, the...
Continue Reading • 14 Jul 2010
Property prices in China fall
Property prices in China have seen their first monthly fall in June since February last year – providing further evidence that the government’s cooling measures are working.According to the National Bureau of Statistics, average prices in 70 cities declined 0.1 percent from May,...
Continue Reading • 13 Jul 2010
HK government should regulate apartment sales
The Hong Kong government should regulate property developers' sales tactics to raise transparency, a lawmaker said, as Hong Kong’s Parliament conducted a special session on the collapse of HK$2.67-billion (S$474.89 million) of apartment sales by Henderson Land Development Co.The Parliament...
Continue Reading • 13 Jul 2010
Hong Kong sets one flat per buyer policy
Flat buyers in Hong Kong will only be permitted to acquire one flat and will not be allowed to resell it before the completion date, according to a new policy set by the Real Estate Developers Association of Hong Kong.The guidelines were issued after a police investigation into the controversial...
Continue Reading • 12 Jul 2010
Suzhou aims to become the world's office
After several years of being the "world's factory", the Suzhou Industrial Park (SIP), together with Suzhou city, has now embarked on a transformation to be the "world's office" in an attempt to re-invent itself.Suzhou party secretary Jiang Hong Kun referred to the...
Continue Reading • 9 Jul 2010
No new property measures for China
The central government of China has no plans of implementing another round of tightening measures in the property market in the third quarter, said a senior official.Wang Yulin, deputy research head for the Ministry of Housing and Urban-Rural Development, said the central government would...
Continue Reading • 9 Jul 2010
LEGOLAND Malaysia offers preview of creations
LEGOLAND Malaysia has, for the first time, opened the Model Building Centre to specially selected guests, at an event hosted by Iskandar Investment Berhad – the catalytic developer of Iskandar Malaysia.Specially invited visitors, including Y.A.B. Dato' Haji Abdul Ghani bin Othman, Chief...
Continue Reading • 9 Jul 2010
Analysts expect 20% decline in China property prices
The red hot Chinese property market is showing signs of a slowdown, with some analysts saying that property prices could drop by 20 percent in the next 12 to 18 months.However, others said that a decline in prices will only have a minimal impact on the country’s banking system.The property...
Continue Reading • 8 Jul 2010
China set to rule the IPO market in 2010
China is poised to be the biggest initial public offering market in the world this year in terms of both the number of funds raised and new listings, according to a study conducted by PricewaterhouseCoopers (PwC).The number of new listings in China’s two bourses in Shenzhen and Shanghai are...
Continue Reading • 7 Jul 2010
Former IMF economist gloomy on Chinese property market
The Chinese property market is starting a collapse that will affect the banking system, said Kenneth Rogoff, an economics professor from Harvard University.Property transactions have declined and prices are sluggish following the central government’s measures to cool the property...
Continue Reading • 6 Jul 2010
Hong Kong home sales drop to 14-month low
Home sales in Hong Kong dropped to the lowest level for the 14th straight month in June, as the government implemented several measures to curb increasing prices in the housing market.According to the Land Registry, the total sales of home units dropped to HK$33 billion (S$5.9 billion) in June...
Continue Reading • 6 Jul 2010