trending Market Intelligence /marketintelligence/en/news-insights/trending/3hkatll-oqCmIvCPAQqQgA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Dalian Wanda mulls real estate exit; China Vanke plans 5B-ringgit project

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Dalian Wanda mulls real estate exit; China Vanke plans 5B-ringgit project

* Wang Jianlin, chairman of Dalian Wanda Group Co. Ltd., said the Chinese conglomerate is planning to sell all of its real estate businesses within 2019 as part of the group's transformation into a business management and operation company, The (Hong Kong) Standard reported.

The plan was unveiled after the company recorded a 5.7% year-over-year decrease in revenue in 2018 to 214.28 billion yuan, the third successive year the group posted a drop in the metric, Reuters reported.

* Chinese developer China Vanke Co. Ltd. is planning to launch its first mixed-use development in Malaysia in 2019 with an estimated gross development value of 5 billion ringgit, The Edge Markets reported. Lang Cong, managing director of Vanke Holdings (Malaysia) Sdn. Bhd., said the proposed development, which is aimed for local buyers and expatriates, is now awaiting approval from authorities.

Hong Kong and China

* A subsidiary of ZH International Holdings Ltd. secured the rights to an approximately 51,395-square-meter residential land parcel in Zhengzhou city in China's Henan province after placing a winning bid of 672.6 million yuan.

* The contracted sales of C&D International Investment Group Ltd., Sino-Ocean Group Holding Ltd. and Greenland Hong Kong Holdings Ltd. in the year ended Dec. 31, 2018, respectively increased on an annual basis by 145.16% to about 24.79 billion yuan, by 55% to roughly 109.51 billion yuan and by approximately 26% to an estimated 37.93 billion yuan.

* China Overseas Land & Investment Ltd. sold 470 of the 486 apartment units it offered Jan. 12 in its The Regent residential complex in the Tai Po area of New Territories, Hong Kong, the South China Morning Post reported. The sales launch attracted up to 7,500 bids as the developer offered the units with prices lower by up to a third compared with projects launched in the same area in July 2018.

* Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor is planning to create about 12 square kilometers of artificial land offshore at a cost of up to US$64 billion to address the city's land shortage, Reuters reported.

The plan was formulated as major developers including Henderson Land Development Co. Ltd., New World Development Co. Ltd. and Sun Hung Kai Properties Ltd. are believed to be hoarding at least 1,000 hectares of unused agricultural land, according to government estimates cited by the news agency.

* Li Ka-shing, former chairman of CK Asset Holdings Ltd. and CK Hutchison Holdings Ltd., was quoted by the SCMP as warning about a global economic slowdown and speculation in the property market of Hong Kong. The richest man in the special administrative region said at the CK Group's annual dinner in the Wan Chai commercial area that the city's housing market is a "little volatile."

Philippines

* Filipino developer DoubleDragon Properties Corp. intends to amalgamate all of its four major subsidiaries under a real estate investment trust platform, The Philippine Star reported.

The planned merger of the units comes as the Philippine stock exchange and the Securities and Exchange Commission prepare to implement a plan that will allow the listing of REITs in the country's stock market.

Japan

* The vacancy rate of grade A office and rent has increased by 0.1 point and 0.8%, respectively, in December 2018 from the previous month, Jutaku-Shimpo reported, citing JLL.

Now featured on S&P Global Market Intelligence

Data Dispatch: 116 US and Canadian real estate companies increase dividends in 2018

Data Dispatch: US REIT stocks tumble during Q4'18 but top the S&P 500

The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Rollen Catorce and John Chan contributed to this report.