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.
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 uWednesday, 28 January, 2015, 4:00am
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
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
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
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
Troubled mainland property developer Kaisa Group has won some breathing space in its battle to clear debts after HSBC said it would waive demand for immediate repayment of a HK$400 million loan after the terms of its issue were breached.13 Jan 2015 - 4:31pm
In his seventh year as the chief financial officer of Yuzhou Properties, a Xiamen-based developer listed in Hong Kong, Chiu Yu-kang is not in a hurry to grow it bigger, even though his firm had only contracted sales of 12 billion yuan in 2014, with numbers for the biggest players nearly 20 times larger.14 Jan 2015 - 8:07am
Small as it is, mainland developer Yuzhou Properties prioritizes maximizing profits rather than aggressive expansion, company chief financial officer Chiu Yu-kang said.
“The key is to buy cheap land and cut financing cost,” he told South China Morning Post in an interview.14 Jan 2015 - 8:07am
The revitalization scheme created by the Hong Kong government in 2008 has been a rare case of success in preserving heritage in a city where development pressures grow stronger, experts say. But some six years after its launch and in spite of its positive achievements, they claim it’s time to move forward.14 Jan 2015 - 8:07am 1 comment
A spate of positive news and early signs of stabilisation of property sales have stirred up a land acquisition spree in first-tier cities of China where developers believe they will crawl out of the market downturn soon.18 Apr 2015 - 6:19pm 1 comment
Shares in Hong Kong tycoon Li Ka-shing’s two principal business operations rose sharply yesterday on Monday after Friday night’s merger announcement.12 Jan 2015 - 7:22pm
Bonds of mainland developers will come under further downward pressure after Shenzhen-based Kaisa Group Holdings missed a deadline to pay a US$26 million bond coupon on its US$500 million bond issue, stoking investor worries about the creditworthiness of the companies, according to analysts.12 Jan 2015 - 1:12pm
Shares in Dalian Wanda Commercial Properties, controlled by Wang Jianlin, closed in the red on their market debut yesterday amid concerns over the outlook for the mainland property sector.
The initial public offering, raising about HK$28.8 billion, was Hong Kong's biggest this year.24 Dec 2014 - 7:30am
Shares in mainland developer Kaisa plunged more than 18 per cent when trading resumed on Monday following the sudden resignation of its chairman and confirmation over the weekend that four of its projects in Shenzhen had been blocked from sale, with an adverse impact on its cash flow.22 Dec 2014 - 11:47am
Some years after buying a flat in Guangzhou, mainlander Moon Wong made his first overseas investment this year, paying A$700,000 (HK$4.4 million) for a 900 square foot apartment in Sydney.22 Dec 2014 - 7:26am