China Real Estate Wrap for the Week of 11/25/2010

November 25 – China Vanke Co (SHE: 000002), the nation's biggest property developer, said it was not likely housing prices would fall as much as 20% in 1H 2011, in response to the prediction made by a Remin University professor, who also predicted serious cash flow problems for Chinese property developers for the same period.

Sources:

http://news.dichan.sina.com.cn/sh/2010/11/25/242660.html

http://www.yicai.com/news/2010/11/606445.html

November 23 – New home sales in Shenzhen totaled 609 units fetching an average of ¥16,534/m2 ($1 = ¥6.6) in the week ended 21 November 2010, up 34.4% and 8.3% respectively from the previous week, according to Worldunion.com.cn.

November 23 – Over 70% of Zhejiang province's top 100 firms are engaged in the real estate sector, according to a business meeting on the provincial economy.

November 22 – Gaohe Investment, China's first fund dedicated to commercial real estate, acquired Jinao International, an office building in Beijing. The deal involving some 60,000m2 will become the largest acquisition of Beijing's property market this year, experts said. No financial details were available.

November 18 – Office rents in Beijing rose 10.9% quarter on quarter in Q3 2010, according to Jones Lang LaSalle.