https://www.scmp.com/rss/75326/feed COLI is an investment holding and property investment group. It was incorporated in Hong Kong in 1979, a subsidiary of China State Construction Engineering Corporation, the largest construction conglomerate in China. In August 1992, COLI was listed on the Hong Kong Stock Exchange, and in 2007 became a constituent stock of the Hang Seng Index. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhu Wenqian,Cheryl Arcibal Zhu Wenqian,Cheryl Arcibal A consortium led by Sino Land, alongside state-backed mainland developers China Overseas Land & Investment and China Merchants Land, has won a tender for the Kam Sheung Road Station Phase Two development, signalling continued confidence in Hong Kong’s Northern Metropolis and its long-term growth prospects, particularly among mainland developers. The group – which also includes Great Eagle Holdings – plans to invest more than HK$13 billion (US$1.7 billion) to build high-quality residential... https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed Tue, 21 Apr 2026 11:30:30 +0000 Julie Zhang Julie Zhang Homebuyers continued to signal confidence in Hong Kong’s residential market on Saturday, with about three quarters of 248 new flats put up for sale snapped up by late afternoon. A total of 53 out of 88 units were sold at The Pavilia Farm III, while 129 of 160 units at KT Marina II in Kai Tak were taken as of 4.30pm, according to Midland Realty. The Pavilia Farm III, a project jointly developed by New World Development (NWD) and MTR Corp atop Tai Wai Station in Sha Tin, saw buyers throng the... https://www.scmp.com/business/article/3350573/hong-kong-buyers-snap-more-180-new-homes-market-confidence-returns?utm_source=rss_feed https://www.scmp.com/business/article/3350573/hong-kong-buyers-snap-more-180-new-homes-market-confidence-returns?utm_source=rss_feed Sat, 18 Apr 2026 09:39:43 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-listed mainland Chinese developer China Overseas Land & Investment won a bid for a 3,132-square-metre (33,712 sq ft) residential plot in Kowloon East, beating some of the city’s largest developers with a higher-than-expected tender. The state-backed developer beat eight rivals to secure a 50-year grant for the parcel in Ngau Tau Kok with its bid of HK$1.8 billion (US$230 million), according to a statement from the Lands Department on Tuesday. The site is expected to yield 470... https://www.scmp.com/business/article/3343088/hong-kong-residential-plot-fetches-us230-million-chinese-developer-outbids-city-rivals?utm_source=rss_feed https://www.scmp.com/business/article/3343088/hong-kong-residential-plot-fetches-us230-million-chinese-developer-outbids-city-rivals?utm_source=rss_feed Tue, 10 Feb 2026 12:34:34 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Friday following Wall Street’s retreat as renewed concerns about the artificial intelligence sector and lacklustre US jobs data prompted investors to pull back from riskier assets after a brief Nvidia-led rally. The Hang Seng Index closed 2.4 per cent lower at 25,220.02, taking the loss for the week to 5.1 per cent, the worst since April 11, when US President Donald Trump’s tariff war rattled the market. The Hang Seng Tech Index fell 3.2 per cent. On the mainland, the... https://www.scmp.com/business/china-business/article/3333619/hang-seng-index-set-cap-worst-week-april-ai-bubble-fears?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333619/hang-seng-index-set-cap-worst-week-april-ai-bubble-fears?utm_source=rss_feed Fri, 21 Nov 2025 02:20:54 +0000 Cheryl Arcibal Cheryl Arcibal Chinachem Group has secured a 70,127 sq ft site in Tsuen Wan in the New Territories for more than HK$2.47 billion (US$318 million), beating eight other bidders, according to the Lands Department. The other bidders were Sun Hung Kai Properties, CK Asset Holdings, Henderson Land Development, Great Eagle Holdings, China Overseas Land & Investment, K. Wah International Holdings, Wheelock Properties and a consortium of Sino Land, Kerry Properties and China Merchants Land. The award gives Chinachem –... https://www.scmp.com/business/article/3333300/chinachem-secures-plot-hong-kongs-tsuen-wan-us318-million?utm_source=rss_feed https://www.scmp.com/business/article/3333300/chinachem-secures-plot-hong-kongs-tsuen-wan-us318-million?utm_source=rss_feed Tue, 18 Nov 2025 13:33:34 +0000 Salina Li Salina Li Affluent Hong Kong investors – from the former CEO of the Hong Kong stock exchange to the chairman of Great Eagle Holdings – have been snapping up residential properties, despite doubts by many prospective homebuyers that prices of flats across the city have hit bottom. Francis Yuen Tin-fan and his wife Rose Lee Wai-mun spent HK$92 million (US$11.8 million) on two luxury flats at The Knightsbridge in Kai Tak over a span of two months. Their latest transaction on Tuesday was for a 1,259 sq ft... https://www.scmp.com/property/hong-kong-china/article/3326237/signs-confidence-affluent-hong-kong-investors-snap-luxury-flats-market-improves?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3326237/signs-confidence-affluent-hong-kong-investors-snap-luxury-flats-market-improves?utm_source=rss_feed Sun, 21 Sep 2025 04:00:18 +0000 Peggy Sito Peggy Sito Sino Land has won a residential site tender in Tuen Mun for HK$1.09 billion, beating major Hong Kong and mainland Chinese developers – including CK Asset Holdings, Kerry Properties and China Overseas Land & Investment – as the city’s housing market shows early signs of recovery. The transaction, which marked the Hong Kong government’s first residential plot sale this financial year, involved a site at Hoi Chu Road in Tuen Mun, a district in proximity to Shenzhen Bay. “The sought-after site... https://www.scmp.com/business/companies/article/3321760/sino-land-wins-tuen-mun-land-tender-hk1-billion-bid-amid-improved-housing-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3321760/sino-land-wins-tuen-mun-land-tender-hk1-billion-bid-amid-improved-housing-market?utm_source=rss_feed Wed, 13 Aug 2025 12:28:07 +0000 Salina Li Salina Li A prolonged downturn in China’s property market is approaching a point of stabilisation, analysts said, as low rates and affordable properties are steadying prices and facilitating purchases. In a report on Monday, S&P Global Ratings said primary home prices this year were set to drop 1 per cent nationwide, coupled with a 2 per cent fall in primary sales volume, which is a “modest decline compared with the 17 per cent drop in primary sales in 2024”. “The government will make the property market... https://www.scmp.com/business/article/3309997/chinas-long-nagging-property-market-downturn-nears-stabilisation-analysts?utm_source=rss_feed https://www.scmp.com/business/article/3309997/chinas-long-nagging-property-market-downturn-nears-stabilisation-analysts?utm_source=rss_feed Mon, 12 May 2025 08:30:19 +0000 Yuke Xie,Enoch Yiu Yuke Xie,Enoch Yiu Major Chinese developers like China Overseas Land & Investment and Country Garden Holdings continue to report disappointing earnings, as the country’s property sector remains mired in a downturn despite a range of supportive measures. State-backed China Overseas Land & Investment’s profit for 2024 plunged 40 per cent to 15.6 billion yuan (US$2.2 billion) while its total debt dropped 6 per cent to 241.6 billion yuan, according to a filing to the Hong Kong stock exchange on Monday. Revenue fell 9... https://www.scmp.com/business/article/3304602/no-respite-sight-top-chinese-developers-profits-continue-slump?utm_source=rss_feed https://www.scmp.com/business/article/3304602/no-respite-sight-top-chinese-developers-profits-continue-slump?utm_source=rss_feed Mon, 31 Mar 2025 11:09:28 +0000 Yulu Ao Yulu Ao It was already 7.15pm on Thursday and yet the sales centre of local developer Golden Real Estate in Shenzhen was still packed with prospective homebuyers – mostly couples and groups of families – as property agents and sales representatives moved quickly around to show sample rooms or help calculate the price of flats. Suddenly, cheers rang out after a lady smashed a “golden egg” – the typical way buyers celebrate their purchase of a new home – and then unboxed gifts from the developer. She was... https://www.scmp.com/business/china-business/article/3281207/golden-week-chinas-property-market-sales-get-boost-beijings-stimulus-measures?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3281207/golden-week-chinas-property-market-sales-get-boost-beijings-stimulus-measures?utm_source=rss_feed Sun, 06 Oct 2024 02:00:14 +0000 A high-profile US investigation into Fuyao Glass America – a Chinese firm featured in the acclaimed US documentary American Factory – and its contractors has raised fresh concerns in China amid bilateral tensions. Hundreds of special agents from multiple US law enforcement agencies, including Homeland Security, Internal Revenue Service (IRS) Criminal Investigations and the Federal Bureau of Investigation served search warrants at the Fuyao plant in Moraine, Ohio and 27 other locations in the... https://www.scmp.com/news/china/diplomacy/article/3272208/us-special-agents-raid-chinese-firm-fuyao-glass-over-financial-crimes-and-labour-abuse?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3272208/us-special-agents-raid-chinese-firm-fuyao-glass-over-financial-crimes-and-labour-abuse?utm_source=rss_feed Sun, 28 Jul 2024 10:11:19 +0000 After Beijing introduced its most ambitious effort to date to revive the property sector and bolster the country’s economic recovery, analysts and economists find the plan’s scale too small and remain uncertain about its effectiveness. Market experts suggested that initiatives to solve the long-standing property crisis will need more meat on the bone, as policymakers approach this issue with a heightened sense of urgency. Still, Chinese property stocks received a boost from some positive... https://www.scmp.com/business/china-business/article/3263202/china-property-beijings-stimulus-plan-needs-more-time-money-and-policy-support-resolve-long-standing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3263202/china-property-beijings-stimulus-plan-needs-more-time-money-and-policy-support-resolve-long-standing?utm_source=rss_feed Sat, 18 May 2024 10:31:32 +0000 Thirteen workers were killed and 46 were injured on Sunday in the explosion of a nickel smelter furnace owned by Indonesia Tsingshan Stainless Steel (ITSS) on Sulawesi island, the owner of the industrial estate where the smelter is located said. The blast occurred when workers repaired the furnace and installed plates at 5.30am on Sunday, killing nine Indonesian workers and four Chinese workers, Indonesia Morowali Industrial Park (IMIP) said in a statement. It had said earlier that an explosion... https://www.scmp.com/news/asia/southeast-asia/article/3246156/several-chinese-workers-among-13-killed-after-furnace-blast-china-owned-indonesian-nickel-plant?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3246156/several-chinese-workers-among-13-killed-after-furnace-blast-china-owned-indonesian-nickel-plant?utm_source=rss_feed Sun, 24 Dec 2023 07:47:28 +0000 China’s developers are surging in the Hong Kong stock market, as more local authorities rolled out incentives and stimulus measures to shore up home sales in the world’s largest property market. The shares of Country Garden Holdings, Longfor Group Holdings, China Overseas Land & Investment (Coli) all soared by over 10 per cent in Hong Kong, lifting the Hang Seng Mainland Properties index by 4.7 per cent in its biggest one-day gain in four days. Sentiments were buoyed after local authorities of... https://www.scmp.com/business/markets/article/3192588/chinas-property-developers-rally-authorities-remove-strictures?utm_source=rss_feed https://www.scmp.com/business/markets/article/3192588/chinas-property-developers-rally-authorities-remove-strictures?utm_source=rss_feed Thu, 15 Sep 2022 08:00:19 +0000 Chinese businesses in the United States have seen their revenue return to pre-pandemic levels but investment has shrunk amid increasing pessimism about China-US relations, according to a survey of Chinese enterprises in the US. The annual survey conducted in March and April by the China General Chamber of Commerce (CGCC) in the US asked 111 Chinese companies – 48 per cent were private companies and 19 per cent were government-owned – about their revenue from the US market in the past year as... https://www.scmp.com/news/china/diplomacy/article/3183806/chinese-firms-us-report-revenue-bounces-back-investment-drops?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3183806/chinese-firms-us-report-revenue-bounces-back-investment-drops?utm_source=rss_feed Fri, 01 Jul 2022 14:30:21 +0000 Work on China’s US$65 billion belt and road programme in Pakistan looks set to progress at only a modest pace in coming years because Islamabad is struggling to stay solvent, officials and analysts said. The recently elected coalition government of Prime Minister Shehbaz Sharif began a week of negotiations with the International Monetary Fund in Doha on Wednesday over the terms of an extended balance of payments support programme. Sharif has already been told by Pakistan’s close allies and major... https://www.scmp.com/week-asia/economics/article/3178218/will-chinas-belt-and-road-projects-pakistan-lose-momentum-new?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3178218/will-chinas-belt-and-road-projects-pakistan-lose-momentum-new?utm_source=rss_feed Wed, 18 May 2022 10:17:59 +0000 Philippines President Rodrigo Duterte approved a law allowing foreign investment in more business sectors, his office said on Friday, in a bid to boost jobs and growth in the Southeast Asian economy. The law, which amends a three-decade old foreign investment rule, allows for the first time international players to set up and fully own small and medium-sized businesses, and hold 100 per cent equity in firms in sectors where they could already operate. Previously, foreign investors could only... https://www.scmp.com/news/asia/southeast-asia/article/3169256/philippines-relaxes-rules-woo-foreign-investment-bid-boost?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3169256/philippines-relaxes-rules-woo-foreign-investment-bid-boost?utm_source=rss_feed Fri, 04 Mar 2022 09:17:17 +0000 At least eight cities in mainland China, from Zhuzhou in southern Hunan province to Huizhou in the Greater Bay Area, have come up with measures to prevent developers from offering excessively cheap homes to stabilise the market and prevent a collapse in prices. The housing authorities in Zhuzhou earlier this month summoned executives of four local developers and a few property agencies, asking them to stop selling homes at prices that were “obviously lower than the market level”, and urged them... https://www.scmp.com/business/china-business/article/3149513/chinese-cities-ask-developers-stop-discount-gimmicks-local?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3149513/chinese-cities-ask-developers-stop-discount-gimmicks-local?utm_source=rss_feed Wed, 22 Sep 2021 00:30:23 +0000 Hong Kong’s homebuyers continued making their beeline for the first waterfront flats built on the city’s former airport runway, as low-cost mortgages combined with signs of an economic recovery and easing Covid-19 outbreaks to lure them back into the property market. China Overseas Land and Investment (COLI) sold 118 apartments, or 41 per cent of the 286 units on offer at One Victoria as of 9pm, sales agents said. The project, built on a strip of land that protrudes into Victoria Harbour, is... https://www.scmp.com/business/article/3140628/hongkongers-continue-their-beeline-one-victoria-flats-kai-tak-cheap-funds?utm_source=rss_feed https://www.scmp.com/business/article/3140628/hongkongers-continue-their-beeline-one-victoria-flats-kai-tak-cheap-funds?utm_source=rss_feed Sat, 10 Jul 2021 10:45:21 +0000 Hong Kong’s homebuyers snapped up the first harbourfront flats built on Hong Kong’s former airport runway in Kai Tak despite a slow start, as generous discounts lured investors to double down on their bets of the continuing property bull market. China Overseas Land and Investment sold 364 flats, or 91 per cent of the first batch of 400 units on offer at the One Victoria project in Kai Tak on Saturday, according to real-estate agents. The first batch on offer was priced at an average of... https://www.scmp.com/business/china-business/article/3139709/kai-taks-first-harbourfront-flats-open-tepid-reception?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3139709/kai-taks-first-harbourfront-flats-open-tepid-reception?utm_source=rss_feed Sat, 03 Jul 2021 09:27:47 +0000 Home prices in China that have risen for 35 months in a row could ease following the newly adopted centralised land auction scheme across major cities in the country. The move will prevent developers from going on a land buying binge because land will be sold only thrice a year under the new scheme, market observers said. Most of the heavily indebted and cash-strapped developers are likely to consider using their funds judiciously and this would eventually drive home prices down, they added.... https://www.scmp.com/business/china-business/article/3124630/chinas-runaway-house-prices-may-ease-centralised-land-sale?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3124630/chinas-runaway-house-prices-may-ease-centralised-land-sale?utm_source=rss_feed Tue, 09 Mar 2021 23:30:14 +0000 China Overseas Land & Investment (COLI) is moving to develop a technology ecosystem to create new sources of income amid a slowing property market, as the developer’s first-half revenues beat expectations. The company’s strategy is to allocate 2 per cent of its resources to fund new businesses such as elderly living, education, logistics and supply chain management to “foster new sources of profits”, chairman Yan Jianguo said in an earnings teleconference on Monday afternoon. Residential and... https://www.scmp.com/business/article/3098663/china-overseas-land-investment-develops-technology-ecosystem-create-new?utm_source=rss_feed https://www.scmp.com/business/article/3098663/china-overseas-land-investment-develops-technology-ecosystem-create-new?utm_source=rss_feed Mon, 24 Aug 2020 13:09:48 +0000 As Philippine and Chinese diplomats seek to strengthen their relationship and describe the disagreement over the South China Sea as a “little pebble” in the road to closer participation, a survey has highlighted how this view is not shared by many Filipinos, whose trust in China has decreased as the territorial dispute drags on. On July 22, Foreign Affairs Secretary Teodoro Locsin, Jnr described the South China Sea as an “avenue of cooperation” between China and the Philippines. “An avenue... https://www.scmp.com/week-asia/politics/article/3095582/south-china-sea-philippines-stuck-between-pebble-and-hard-place?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3095582/south-china-sea-philippines-stuck-between-pebble-and-hard-place?utm_source=rss_feed Sun, 02 Aug 2020 01:30:08 +0000 Every Tuesday and Thursday, Inkstone Index features one important number about China to give you insight into the rising power. $147 billion: How much China loaned to Africa from 2000 to 2018.  In less than two decades, China has grown to become the largest lender to sub-Saharan Africa, surpassing the World Bank and the Paris Club.  China’s loans to Africa are lent from the Chinese government, banks and contractors to African governments and their state-owned enterprises.  The investments have... https://www.scmp.com/business/inkstone-index-how-much-money-has-china-lent-africa/article/3094103?utm_source=rss_feed https://www.scmp.com/business/inkstone-index-how-much-money-has-china-lent-africa/article/3094103?utm_source=rss_feed Tue, 28 Jul 2020 09:32:08 +0000 Every Tuesday and Thursday, Inkstone Index features one important number about China to give you insight into the rising power. $117 billion: How much China invested abroad in 2019. China has become a significant investor in the world over the past two decades, mainly through buying and building business operations overseas. Last year, China was the world’s fourth-largest overseas investor, accounting for 8.9% of the money invested in foreign nations. Japan, the United States and the Netherlands... https://www.scmp.com/business/inkstone-index-chinese-investments-across-world/article/3093247?utm_source=rss_feed https://www.scmp.com/business/inkstone-index-chinese-investments-across-world/article/3093247?utm_source=rss_feed Thu, 16 Jul 2020 03:12:28 +0000 Some of China’s biggest developers are set to accelerate sales and shorten their construction cycles to shore up cash flow in response to the economic fallout from the Covid-19 outbreak. Four mainland Chinese builders reported higher profit growth for 2019 on Thursday, but said they are braced for hard times ahead as the deadly epidemic squashes market demand. Many property developers have seen sales plummet in the first two months of 2020. Poly Property Group, whose property sales fell 25.6 per... https://www.scmp.com/business/article/3077092/mainland-developers-including-poly-property-china-resources-accelerate?utm_source=rss_feed https://www.scmp.com/business/article/3077092/mainland-developers-including-poly-property-china-resources-accelerate?utm_source=rss_feed Thu, 26 Mar 2020 10:00:10 +0000 After more than 18 years of war, the Taliban has agreed to a week-long nationwide reduction of violence, setting the stage for the signing of a peace deal by the end of this month that would see all US military forces depart Afghanistan in 18 months’ time. The pause in Taliban attacks will also pave the way for negotiations with a government-appointed delegation of mainstream politicians over the country’s future. But China, which used its influence with close ally Pakistan to facilitate Taliban... https://www.scmp.com/week-asia/politics/article/3051861/what-china-has-fear-us-taliban-peace-deal-afghanistan?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3051861/what-china-has-fear-us-taliban-peace-deal-afghanistan?utm_source=rss_feed Sat, 22 Feb 2020 06:30:13 +0000 A consortium of Hong Kong developers bought the most valuable parcel of residential land on the runway of the city’s former airport for a discount, as six months of the city’s worst political crisis sent the local property market into a tailspin. China Overseas Land & Investment, Henderson Land Development, K. Wah International Holdings and Wharf Development together paid HK$15.95 billion (US$2.04 billion) for Area 4A Site 2 at the former Kai Tak airfield, barely meeting the lower end of a price... https://www.scmp.com/business/article/3037577/developers-pick-kai-taks-most-valuable-harbourfront-land-plot-discount?utm_source=rss_feed https://www.scmp.com/business/article/3037577/developers-pick-kai-taks-most-valuable-harbourfront-land-plot-discount?utm_source=rss_feed Wed, 13 Nov 2019 10:45:28 +0000 Bidding for a railway funded by the Chinese government will start in a few weeks in the Philippines, but the project will not be completed during Rodrigo Duterte’s presidency, the official in charge of his ambitious “build, build, build” infrastructure programme said on Monday. Vivencio “Vince” Dizon, who was appointed earlier this month as Duterte’s presidential adviser on flagship programmes and projects, said he hopes construction of the 71km Subic-Clark Railway Project (SCRP) can begin by... https://www.scmp.com/week-asia/economics/article/3030040/bidding-china-funded-railway-philippines-start-soon-its?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3030040/bidding-china-funded-railway-philippines-start-soon-its?utm_source=rss_feed Tue, 24 Sep 2019 00:30:07 +0000 The latest tightening in funding might drive a fresh round of consolidation among mainland Chinese property developers, with an acceleration in acquisition of land and assets by the biggest players, analysts said. The biggest developers are expected to grow at the expense of smaller rivals, with their performance increasingly deviating from the industry average. “Foreign investors are too bearish about Chinese developers … they see slower sales and heightened government curbs. But what they may... https://www.scmp.com/business/article/3020482/chinas-top-property-developers-get-bigger-amid-tightened-funding-mid-and?utm_source=rss_feed https://www.scmp.com/business/article/3020482/chinas-top-property-developers-get-bigger-amid-tightened-funding-mid-and?utm_source=rss_feed Tue, 30 Jul 2019 00:00:14 +0000 Click here to launch this special feature https://www.scmp.com/week-asia/long-reads/article/3011618/china-latin-america-partner-or-predator?utm_source=rss_feed https://www.scmp.com/week-asia/long-reads/article/3011618/china-latin-america-partner-or-predator?utm_source=rss_feed Fri, 24 May 2019 17:00:07 +0000 China Overseas Land & Investment (COLI), the second-largest Hong Kong-listed Chinese developer by market capitalisation, will focus on residential projects in top cities as the margins are high, the chairman said after its 2018 results failed to impress investors. “We believe China’s first-tier cities and clusters around them will continue to be the most buoyant economically,” Yan Jianguo told a press conference on Thursday. “We have invested 40 billion yuan (US$6 billion) in Beijing, Shanghai... https://www.scmp.com/business/companies/article/3002507/three-hong-kong-listed-chinese-developers-disappoint-investors?utm_source=rss_feed https://www.scmp.com/business/companies/article/3002507/three-hong-kong-listed-chinese-developers-disappoint-investors?utm_source=rss_feed Wed, 20 Mar 2019 08:05:47 +0000 Hong Kong’s first sales launch of a new residential property project in 2019 got off to a good start, as China Overseas Land and Investment sold most its latest apartment complex in Tai Po with steep discounts. The Regent, a project featuring 1,620 flats between 377 square feet and 761 sq ft in size, released the first batch of 486 units for sale on Saturday, attracting up to 7,500 bids, or an average of 15 buyers for every available flat. The developer managed to sell 470 units, or 97 per cent... https://www.scmp.com/business/article/2181821/hong-kongs-first-new-residential-property-launch-gets-good-start-after?utm_source=rss_feed https://www.scmp.com/business/article/2181821/hong-kongs-first-new-residential-property-launch-gets-good-start-after?utm_source=rss_feed Sat, 12 Jan 2019 11:30:33 +0000 The poorer than expected sales at the weekend at Sino Land’s Grand Central development in Kwun Tong after the builder cut the commission fee for agents, underscores the inseparable relationship between developers and brokers. “Developers, no matter how big they are, still rely on property agents to help them sell projects,” said Donald Fan, chief operating officer of Paliburg Holdings, a local developer. “If a developer says ‘I don’t need agents any more’, I do not believe its projects will sell... https://www.scmp.com/property/hong-kong-china/article/2181178/ties-bind-hong-kongs-developers-and-brokers-find-they?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2181178/ties-bind-hong-kongs-developers-and-brokers-find-they?utm_source=rss_feed Wed, 09 Jan 2019 00:31:08 +0000 Hong Kong’s government, which relies on land sales for a substantial part of its revenue, has sold its final residential plot for the year at a 12.7 per cent discount to market valuation, in a further sign of the city’s cooling property market. Kai Tak Area 4B Site 2, the third plot for sale on the former airport’s disused runway, sold for HK$8.03 billion (US$1.03 billion) to a unit of China Overseas Land & Investment, according to an announcement by the Lands Department. Six bids were submitted... https://www.scmp.com/property/hong-kong-china/article/2179695/hong-kong-sells-third-housing-plot-disused-airport-runway?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2179695/hong-kong-sells-third-housing-plot-disused-airport-runway?utm_source=rss_feed Thu, 27 Dec 2018 10:29:21 +0000 Chinachem Group won a big land parcel in one of Hong Kong’s upmarket suburbs after surveyors cut their valuation by 10 per cent, another sign of softening property prices in the world’s most expensive home market. The site next to the Ho Man Tin subway station – with a gross floor area of 639,382 square feet (59,400 square metres), or the size of nine football fields – is estimated at HK$12.8 billion (US$1.63 billion), 10 per cent less than an earlier valuation, after the government scrapped a... https://www.scmp.com/property/hong-kong-china/article/2169705/surveyors-cut-ho-man-tin-land-valuation-10-cent-another?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2169705/surveyors-cut-ho-man-tin-land-valuation-10-cent-another?utm_source=rss_feed Mon, 22 Oct 2018 11:45:30 +0000 Beijing’s property industry is likely to face a glut as the government plans to sell more land sites that will offer at least two times the developable area available this year, an amount which could take the market two years to soak up. The city’s land commission revealed that it will offer 66 plots that can be developed into 9.3 million square metres of gross floor area in the “near term” last Wednesday, weighing further on developers’ waning interest to buy land amid a sluggish market brought... https://www.scmp.com/property/hong-kong-china/article/2164624/beijings-sluggish-property-market-face-glut-planned-sale-66?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2164624/beijings-sluggish-property-market-face-glut-planned-sale-66?utm_source=rss_feed Tue, 18 Sep 2018 02:18:10 +0000 The Communist Party’s third plenum pledged in late 2013 a “decisive role” for market forces. Critics have been debating ever since to what extent the central government is committed to that pledge. But there is one investment area, admittedly somewhat obscure, in which it has pursued that goal: private Chinese investment in oil and natural gas in Canada. Early this decade, the big three state-owned oil giants, Sinopec, CNOOC and PetroChina, made headlines with megadeals, especially those... https://www.scmp.com/week-asia/business/article/2147575/chinese-investment-canadian-oil-shows-bigger-isnt-always-better?utm_source=rss_feed https://www.scmp.com/week-asia/business/article/2147575/chinese-investment-canadian-oil-shows-bigger-isnt-always-better?utm_source=rss_feed Mon, 28 May 2018 01:03:45 +0000 China’s property sector has increasingly become a battlefield between major developers seeking to leverage scale over profit, using their size to squeeze out smaller players who struggle with less preferential lending rates and other market barriers. Making it on to the rankings of the largest property developers by annual sales has taken on increasing importance in recent years. Beyond honour and reputation, the result matters for companies in securing resources to remain competitive in coming... https://www.scmp.com/property/hong-kong-china/article/2139134/chinas-property-giants-accelerate-land-purchases-leverage?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2139134/chinas-property-giants-accelerate-land-purchases-leverage?utm_source=rss_feed Wed, 28 Mar 2018 00:01:34 +0000 Top Chinese developers that released their annual results on Monday have set modest sales targets for this year amid a less sanguine outlook under financial restrictions introduced by Beijing, and the pursuit of better margins to woo capital markets. China Evergrande Group and China Overseas Land and Investment have set relatively modest contracted sales targets for 2018 compared with their robust performance last year. China Evergrande has set a target of 550 billion yuan (US$87.57 billion),... https://www.scmp.com/business/companies/article/2138999/top-chinese-developers-lower-growth-expectations-2018?utm_source=rss_feed https://www.scmp.com/business/companies/article/2138999/top-chinese-developers-lower-growth-expectations-2018?utm_source=rss_feed Mon, 26 Mar 2018 23:01:19 +0000 More than 400 owners of One Kai Tak, the development at the site of Hong Kong’s former airport, have filed applications with the government seeking approvals for leasing or reselling, just two months after receiving keys to their new homes, according to Lands Department. Of these, 236 applicants sought permission for leasing, while 183 applications were for reselling. The applications account for about 34 per cent of the total 1,169 units at One Kai Tak, which was developed by China Overseas... https://www.scmp.com/business/article/2127367/one-kai-tak-apartment-owners-seek-lands-department-nod-resale-and-lease?utm_source=rss_feed https://www.scmp.com/business/article/2127367/one-kai-tak-apartment-owners-seek-lands-department-nod-resale-and-lease?utm_source=rss_feed Tue, 09 Jan 2018 01:04:06 +0000 China’s BYD managed to unite America’s left and right, at least momentarily, in California. The company, which is 8 per cent owned by Warren Buffett’s Berkshire Hathaway, officially opened a new manufacturing facility in southern California that has tripled its production of zero-emission, electric-powered buses to 1,500 a year and added hundreds of full-time, unionised workers. An event this week celebrating the expansion drew nearly a dozen elected officials and government representatives,... https://www.scmp.com/news/china/economy/article/2114333/california-dreamin-how-byds-us-electric-bus-expansion-smooths?utm_source=rss_feed https://www.scmp.com/news/china/economy/article/2114333/california-dreamin-how-byds-us-electric-bus-expansion-smooths?utm_source=rss_feed Fri, 06 Oct 2017 22:45:15 +0000 A missile defence system causing Washington and Beijing to clash on efforts to stall North Korea’s weapons testing programme has, at its core, technology that prompted US government action against China on another front: bilateral investment. The Terminal High Altitude Area Defence, or THAAD, missile system deployed in South Korea leverages a “cutting edge” technology that magnifies the power of radar systems, according to a February report by the Washington-based Peterson Institute for... https://www.scmp.com/news/china/policies-politics/article/2109252/can-sino-us-relations-survive-calls-more-scrutiny?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/2109252/can-sino-us-relations-survive-calls-more-scrutiny?utm_source=rss_feed Fri, 01 Sep 2017 13:26:52 +0000 China has stepped up criticism of the string of overseas deals made by some of the country’s biggest companies, amid wider concern in Beijing over capital flight. Such deals were “not real ... they are de facto asset transfers”, state-run CCTV quoted a researcher with China’s leading think-tank as saying on Tuesday night. “They were not meant to invest money [for profit] but to move assets abroad,” said Yin Zhongli , who works for the Chinese Academy of Social Sciences, which is affiliated with... https://www.scmp.com/news/china/economy/article/2103312/china-takes-harsher-tone-against-big-dealmakers-alleging-asset?utm_source=rss_feed https://www.scmp.com/news/china/economy/article/2103312/china-takes-harsher-tone-against-big-dealmakers-alleging-asset?utm_source=rss_feed Wed, 19 Jul 2017 13:00:00 +0000 State-owned developer China Overseas Land & Investment, said its full-year net profit for 2015 climbed 6.9 per cent, amid record property prices in the country over the past two years. Net profit for the year to December 31, 2016 rose to HK$37 billion (US$4.76 billion), or HK$3.64 per share. Core earnings, excluding fair value gains, rose to HK$31.4 billion, in line with the expectations of analysts polled by Bloomberg. The developer has set a target for contracted sales in 2017 of 210 billion... https://www.scmp.com/business/article/2081121/china-overseas-lands-2016-profit-rises-amid-record-property-prices?utm_source=rss_feed https://www.scmp.com/business/article/2081121/china-overseas-lands-2016-profit-rises-amid-record-property-prices?utm_source=rss_feed Wed, 22 Mar 2017 05:01:59 +0000 China Overseas Land & Investment, which is building apartments on the site of Hong Kong’s former airport, set a higher-than-expected price range on Thursday, delivering a blow to the city government’s programme to make housing affordable for residents during an election year. China Overseas will sell One Kai Tak for between HK$15,080 and HK$18,418 per square foot before a 15.5 per cent discount. That means the smallest unit, measuring 386 sq ft, will cost about HK$5 million, or HK$12,742 per... https://www.scmp.com/property/hong-kong-china/article/2008929/hong-kong-sets-price-range-hk15080-hk18418-psf-one-kai-tak?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2008929/hong-kong-sets-price-range-hk15080-hk18418-psf-one-kai-tak?utm_source=rss_feed Thu, 25 Aug 2016 08:27:32 +0000 Property giant China Overseas Land & Investment said it aims to complete the acquisition of assets from Citic, China’s largest state-backed conglomerate, in less than six months as it reported net profit increased 22.5 per cent last year. The state-owned firm said net profit rose to HK$33.3 billion last year, beating the average estimate for HK$28.9 billion in a Thomson Reuters poll of 25 analysts, helped by expanded sales and the spin-off of its property management business. Revenue grew 6.9... https://www.scmp.com/property/hong-kong-china/article/1927457/china-overseas-land-aims-close-citic-deal-six-months?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1927457/china-overseas-land-aims-close-citic-deal-six-months?utm_source=rss_feed Fri, 18 Mar 2016 13:35:26 +0000 Citic, China’s largest state-backed conglomerate, will sell nearly all of its residential property projects worth around 31 billion yuan (HK$37.02 billion) to China Overseas Land & Investment in exchange for a 10 per cent stake in the property giant and 6.15 billion yuan of the latter’s commercial properties. Citic expects to book a gain of HK$9 billion to HK$11 billion from the disposal, on which an agreement was signed on Sunday. “The transaction will enable the company to focus on commercial... https://www.scmp.com/business/article/1924490/chinese-conglomerate-citic-swaps-residential-properties-china-overseas?utm_source=rss_feed https://www.scmp.com/business/article/1924490/chinese-conglomerate-citic-swaps-residential-properties-china-overseas?utm_source=rss_feed Mon, 14 Mar 2016 01:38:12 +0000 China’s first overseas naval base – which is under construction in Djibouti – will be concerned chiefly with logistical tasks rather than projecting power, at least for now, mainland analysts say. The defence ministry on Thursday confirmed construction of the base’s infrastructure and facilities had begun. Analysts say the building of the base shows the ambition of the People’s Liberation Army to expand its international presence and influence. Located where the Red Sea meets the Gulf of Aden,... https://www.scmp.com/news/china/diplomacy-defence/article/1917210/china-starts-work-horn-africa-military-base-djibouti?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy-defence/article/1917210/china-starts-work-horn-africa-military-base-djibouti?utm_source=rss_feed Fri, 26 Feb 2016 08:06:57 +0000 China Overseas Land & Investment, the Hong Kong-listed mainland developer, raised its annual sales target by a fifth yesterday as it announced the possible injection of its parent company's real estate businesses into the firm. The company said it achieved sales of HK$80.07 billion in the first six months of the year, prompting it to revise its annual sales target to HK$120 billion, from HK$100 billion. The company said Beijing's tightening measures would not be relaxed and that the mainland... https://www.scmp.com/property/hong-kong-china/article/1294553/china-overseas-land-raises-sales-target-profit-jumps?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1294553/china-overseas-land-raises-sales-target-profit-jumps?utm_source=rss_feed Mon, 05 Aug 2013 16:00:00 +0000