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| Friday, October 10, 2008 21:18:07 |
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October 10,2008
Shanghai Industrial Development (600748.SH) has signed an agreement with Fujia Development Co to buy its 49% stake in Shanghai Haiji Real Estate Co for US$11.76 million (RMB80.23 million), the Securities Times reported. The deal will give Shanghai Industrial Development 100% control of Shanghai Haiji. The company was founded in 2005 and had US$56.59 million ...
October 10,2008
Fixed-asset investment in Shanghai’s manufacturing sector declined over the first eight months of the year while investment in the infrastructure and real estate sectors accelerated, but at a slower pace than in previous years, the China Securities Journal reported. Industrial investment dropped 5.8% year-on-year to US$11.95 billion (RMB81.52 billion)...
October 09,2008
Zhejiang Jiangong Real Estate Development Co has teamed up with the Asia-Pacific Tourism Organization (APTO) to invest US$44.01 million (RMB300 million) building three tourism projects in Kunshan, Jiangsu province, China Business News reported. The province borders Shanghai. The projects include a golf course, a water park and an upmarket hotel, all in the c...
October 08,2008
Shanghai’s gross domestic product (GDP) is expected to grow 10% this year to just maintain the city’s record of double-digit growth every year since 1992, the Oriental Morning Post reported, citing a National Development and Reform Commission bulletin. Shanghai’s economy, which is largely based on the finance, real estate and other service ...
October 08,2008
Aggressive US hedge fund Elliot will invest an additional US$25.67 million (RMB175 million) into Jiangsu Baida Real Estate, the company’s parent company Kunming Sinobright Group (000560.SZ) told the Securities Times Wednesday. The deal will take Elliott’s stake in Jiangsu Baida to 34.7%, making it the largest single shareholder, and reduce Kunmin...
October 08,2008
Poly Real Estate Group (600048.SH) said Wednesday it earned US$220.04 million (RMB1.5 billion) in sales revenue during the 7-day National Day holiday, the Shanghai Securities News reported. The bulk of the revenues came from new projects in Shanghai, Beijing, Guangzhou, Hangzhou, Tianjin and Chengdu. The China Real Estate Top 10 Research Team said in a new r...
October 06,2008
Evergrande Real Estate Group (also known as Hengda Real Estate Group) sold US$699.42 million (RMB4.79 billion) worth of properties over the 7-day National Day holiday, the Securities Times reported. It launched 18 projects during the period encompassing more than 20,000 units across 12 major cities, including Guangzhou, where it is based, Chengdu, Shenyang, ...
September 25,2008
September 25,2008
September 22,2008
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Yet-to-be unleashed by foreign capital investment and local developers, the real estate sector in China is one of the overheating industries that the government wants to calm down. The latest real estate index released by official body stood at 102.93 points in June 2006, which 1.06 point higher than in May and 0.85 point higher than a year earlier. As a consequence, the government has announced new regulations to curb real estate prices and influx of foreign investment with the aim to restructure the real estate system into a healthier direction. The regulations on residential property investment lead the investors to shift their attention to the increasingly popular offices, shopping outlets and even logistics real estate.
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