PUBLISHED : Wednesday, 14 December, 2011, 12:00am
UPDATED : Wednesday, 14 December, 2011, 12:00am

Surge in new home sales predicted for next year

Ricacorp Properties expects new home sales to rise 46 per cent to 15,000 next year due to a sharp increase in housing supply. Data from the firm shows new housing supply will involve 24,200 flats. Developers expect to launch projects offering a total of 15,000 flats - 56 per cent more than this year. Samuel Lai, a Ricacorp director, said the government's cooling measures and Europe's debt crisis had forced developers to postpone the launch of new projects. There have been only 9,624 new flats launched for sale so far this year, 12 per cent less than last year. He expects transactions of new homes will drop 18 per cent to 10,240 this year - the lowest in 15 years. Yvonne Liu

Additional capital for mainland joint venture

Goodman says the Canada Pension Plan Investment Board and Goodman increased their equity commitment in the 80/20 joint venture Goodman China Logistics. The additional capital increases combined equity to the mainland joint venture to US$500 million, of which 80 per cent is represented by Canada Pension. A US$100 million five-year facility was signed with Credit Agricole and Investment Bank and ING Bank. Peggy Sito

Luxury projects set for The Peak and Mid-Levels

VCC Land, the developer of V Serviced Apartments, plans to build two luxury projects on The Peak and in the Mid-Levels. V Mansions on the Peak, at 20 Peak Road, will comprise four houses ranging from 4,500 sq ft to 6,000 sq ft, to be ready in 2014. V Residence, on Castle Road, will have 128 apartments ranging from 650 sq ft to 1,800 sq ft. It will be completed in 2015. Sandy Li