China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

Metro malls offer rich returns for Golden Wheel Tiandi

Golden Wheel Tiandi founder and chairman Wong Yam came to Hong Kong in 1980. Photo: Edward Wong

Wong Yam-yin, the founder and chairman of Golden Wheel Tiandi Holdings, arrived from Indonesia in 1980 to set up an office for his family’s hardware trading business. He soon found that most entrepreneurs had gained their wealth from investing in real estate.

Wednesday, 11 February, 2015, 6:44am

Greenland to diversify into internet finance

Greenland Hong Kong chairman Chen Jun earlier told the South China Morning Post that the company targeted annual sales of 50 billion yuan by 2018. Photo: Jonathan Wong

Greenland Hong Kong, the Hong Kong-listed unit of the mainland’s largest developer by sales, announced it would diversify into internet finance this year, hoping to capitalise on the cyber world to offer financial services to cash-strapped mainland developers.

11 Feb 2015 - 6:11am

Shanghai office deals to exceed Beijing

Office investment volumes in Shanghai have bucked the country’s real estate downtrend. Photo: SCMP

Office transaction activity in Shanghai will surpass Beijing’s this year as investors are still looking to cash in on the city’s free trade zone.

11 Feb 2015 - 6:01am

Golden Wheel Tiandi on a roll with metro projects

Chairman Wong Yam-yin says his company has acquired seven residential plots since last year taking advantage of the downturn. Photo: Edward Wong

For Golden Wheel Tiandi Holdings, the strategy of developing properties close to metro stations on the mainland has paid off in a market downturn.

11 Feb 2015 - 5:57am

Kaisa shares close up 17.6 per cent following rescue by white knight

Kaisa says it has received 28 billion yuan in payment demands from creditors. Photo: Reuters

Debt-ridden mainland developer Kaisa saw its shares soar on Monday  after a white knight rescued it from the verge of bankruptcy.

But Kaisa’s future remains clouded, with the company saying creditors were demanding immediate repayment of about 28 billion yuan (HK$34.7 billion).

9 Feb 2015 - 5:18pm

Shares of Sunac China jumps 5pc after Kaisa rescue

Troubles at Kaisa began when its flats were barred from sale by the Shenzhen government. Photo: Langi Chiang

Shares of Sunac China opened 5 per cent higher on its first day of trading after taking over the cash-strapped Shenzhen-based developer Kaisa Group for HK$4.55 billion.

Trading in the stock had been suspended on January 30, the day Sunac bought 2.59 billion Kaisa shares at HK$1.8 apiece.

Sunac’s shares rose to HK$7.3 before last trading at HK$6.94 on January 30.

9 Feb 2015 - 7:40pm

Shenzhen attracts 8 developers to bid for top site

Residential and commercial centre of Shenzhen were 8 developers bid for a property site. Photo: Bloomberg

Shenzhen attracted eight top developers to bid for an urban redevelopment site on Friday for 888 million yuan (HK$1.1 billion), showing strong demand despite it being the epicentre of troubles besieging Kaisa Group.

6 Feb 2015 - 7:46pm

Sunac acquires 49.25pc of troubled China developer Kaisa

Beleaguered Shenzhen developer Kaisa faces a deadline on Monday for a US$26 million interest payment on a bond issue. Photo: Langi Chiang

Sunac China Holdings acquired 49.25 per cent shares in the troubled Kaisa Group Holdings for HK$4.55 billion, in a move that may help it avoid becoming the first mainland developer to default on offshore bond.

According to the company disclosure to the Hong Kong stock exchange, Sunac bought 2.53 billion shares in Kaisa at an average price of HK$1.8 on January 30.

6 Feb 2015 - 12:18pm

Shimao bond issue tests market after Kaisa default

Shimao is focused on developing mid- to high-end residential, retail and office properties. Photo: Peter Simpson

Shares of Shimao Property opened strong in early trading as the company announced its US$800 million notes issue, the first international debt offering from the mainland property sector since the troubled Kaisa Group’s bond default last month.

4 Feb 2015 - 12:56pm

Hong Kong government needs to take steps in developing commercial office space

Hong Kong's skyscrapers gleam at sunrise as the government needs to take steps to develop commercial office space. Photo: Bloomberg

The political instability arising from the ‘Occupy Central’ protest that took place in the fourth quarter last year has prompted many multinational companies (MNCs) to rethink their operational strategy in Hong Kong despite the fact that business operations were largely unaffected.

28 Jan 2015 - 4:00am

Hong Kong needs to trim construction costs that are most expensive in Asia

Hong Kong construction site in West Kowloon. The city's construction costs are the highest in Asia and needs reform. Photo: Bloomberg

Everyone knows that the tiny flat where most of us live in is worth millions of dollars. But only a few of us ever thought of how much did that actually cost to build.

28 Jan 2015 - 3:00am 2 comments

Hang Lung Properties in Hong Kong core profit up 98 per cent, revenue jumps 293 per cent

Ronnie Chan Chi-chung, chairman of Hang Lung Properties, emphasises a point as his company saw and revenues increase sharply. Photo: Sam Tsang

Hang Lung Properties saw its core profit increase 98 per cent to HK$10.02 billion last year, driven by a sharp increase in property sales.

Revenue from property sales of the company whose chairman is Ronnie Chan Chi-chung jumped 293 per cent to HK$9.81 billion, while property rental income gained 9 per cent to HK$7.21 billion.

26 Jan 2015 - 6:07pm

Strong opposition seen to use land in Hung Shui Kiu for housing

Vacant land in Hung Shui Kiu where the government has proposed to use the land for housing. Photo: Handout

A pilot scheme to relocate existing industrial operators into multistorey buildings to free up land in the northwestern New Territories for housing development is expected to face strong opposition.

21 Jan 2015 - 7:46am 2 comments

China’s ailing property sector to weigh on economy in 2015; GDP growth at slowest in 24 years

Shanghai's Pudong financial district at night. China's property sector is seen weighing on the economy in 2015 as GDP growth posted its slowest rise in 24 years. Photo: Bloomberg

Mainland China’s property investment grew 10.5 per cent in 2014, down from the previous year’s rise of 19.8 per cent, as record high housing inventories will likely weigh down real estate this year, exacerbating a slowdown in the wider economy that saw the economy grow at its slowest pace in almost a quarter century.

18 Apr 2015 - 6:10pm

Shenzhen blocks China Overseas Land sales

Shenzhen government has already blocked three other developers from selling their units. Photo: Bloomberg

Shares of mainland developer China Overseas Land & Investment fell nearly 4 per cent after a Shenzhen project built by the developer was blocked from sale by the city government.

The stock had tumbled as much 7 per cent when trading begun, the most since March 2013, before closing down 3.76 per cent at HK$24, at mid-day.

16 Jan 2015 - 12:43pm