Property News

The property services unit of Sunac China Holdings cited the ‘recurring pandemic outbreaks and the continuous downturn of the real estate industry’, for loss. Source : South China Morning Post Read more…Sunac Services posts US.1 million loss for 2022, cites mounting pressure from China’s recurring Covid-19 outbreaks

The heavily indebted developer told a Hong Kong court it had the support of its overseas creditors for the proposed restructuring, and will publish the term sheets as early as Wednesday. Source : South China Morning Post Read more…China Evergrande aims for offshore debt restructuring agreement with creditors by end of March, Hong […]

Demand for high-grade office space in top mainland cities is forecast to boom as economic recovery strengthens. Higher rents could follow, according to property consultancies. Source : South China Morning Post Read more…Banks, tech firms in Beijing, Shanghai, Shenzhen to drive demand for prime office space as China’s economy prospers

The average price of a new home in 70 medium and large cities edged up 0.3 per cent in February, as favourable government policy restored some confidence to the beleaguered market. Source : South China Morning Post Read more…China’s home prices rise for first time in 18 months as supportive measures restore some […]

China’s borders have been thrown open for tourists for the first time after being shut to foreign visitors on 28 March 2020 Source : arabianbusiness.com Read more…China resumes issuing all types of visas

The developer saw every segment of its operations in Hong Kong and mainland China slow down, with net profit for the year falling 92 per cent amid what the company called ‘weak markets’ and ‘pandemic woes’. Source : South China Morning Post Read more…Wharf sees 2022 profits tumble 92 per cent as pandemic […]

Sales shot up in Beijing, Shanghai and Shenzhen in February as buyers shrugged off hesitancy, with the lived-in market proving particularly hot. Source : South China Morning Post Read more…China home sales spike in Shanghai, Beijing, Shenzhen in February, as eager buyers abandon wait-and-see approach

The affluent city in China’s eastern Jiangsu province has eased restrictions on the resale of residential property, joining several tier-2 cities in easing curbs to boost demand and breathe life into the struggling market. Source : South China Morning Post Read more…China property crisis: wealthy eastern city of Changzhou is latest to lift […]

A unit of China’s biggest insurance group has confirmed it provides cover for the under-construction Kimpton Hotel that was engulfed by fire last week. However, reinsurance means it will pay about a quarter of the possible US$64 million claim. Source : South China Morning Post Read more…Hong Kong hotel fire: reinsurance leaves China’s […]

Some of China’s biggest real estate moguls, saddled with billions of dollars of unpaid debts, may get the chance to plead for breathing space and friendlier property policies in the Great Hall of the People this weekend. Source : South China Morning Post Read more…China’s ‘two sessions’ 2023: property tycoons including Evergrande’s Hui […]

China’s central bank said on Friday that the country’s real estate sector is on the mend, after development loans jumped and property developers raised more capital through the sale of debt in the final quarter of 2022. Source : South China Morning Post Read more…China real estate: ‘recovery of market confidence has accelerated’, […]

One of the biggest Chinese junk-bond investors believes the rally has to pause for now after a breathtaking 80 per cent surge from late October. New catalysts are needed to back up sentiment, Value Partners says. Source : South China Morning Post Read more…China junk-bond rally needs more catalysts to back 80 per […]

China Vanke took advantage of a market rally since late October to raise almost US$500 million from a stock placement to outside investors to help repay offshore creditors. Source : South China Morning Post Read more…China Vanke raises almost US0 million to help repay offshore debt in first Hong Kong stock sale since […]

An end to Beijing’s zero-Covid strategy and relaxation of restrictions on China’s technology industry will boost the office sector, according to JLL. Source : South China Morning Post Read more…China’s office market to see slow recovery in 2023 after slumping to 14-year low last year, as Beijing eases tech crackdown, analysts say

China is introducing 17 new measures to expand financing for home rentals and fundraising options for related companies. Source : South China Morning Post Read more…China to expand financial support for home rentals amid broader support for the property market

In its latest update to the biannual World Economic Outlook, IMF has also raised its global growth forecast for 2023 by 20 basis points to 2.9 per cent Source : arabianbusiness.com Read more…China, India to contribute more than half of global growth this year: IMF

The CSRC on Monday launched a pilot programme that allows the creation of fixed-asset PE investment funds to invest in residential and commercial real estate and infrastructure projects. Source : South China Morning Post Read more…China regulator opens property market to private-equity investors in bid to boost developer liquidity, foreign access

The developers raised 227.1 billion yuan (US$33.08 billion) in 2022, a decline of 66 per cent from the previous year, according to mainland Chinese real estate consultancy CRIC. Source : South China Morning Post Read more…Funds raised by China’s private property firms tumbled 66 per cent to 7-year low of US billion in […]

The gradual reopening of China – which abandoned the last of the travel restrictions of its zero-Covid policy on January 8 – should help its economy expand by 5.2 per cent in 2023, according to IMF Source : arabianbusiness.com Read more…Luxury sector pins hopes on China reopening for expansion in 2023

An internal commitee criticised the stricken developer’s governance and barred three senior executives previously forced from their jobs from returning. Source : South China Morning Post Read more…China Evergrande directors ‘fell short of expected standards’, says inquiry into deposits pledged as loan guarantees

The average new-home price in mainland China remained unchanged in January, the first month without a month-on-month decline since August 2021, according to official statistics released on Thursday. Source : South China Morning Post Read more…China’s home prices halt 16-month skid to hold firm in January as Beijing rescue measures stabilise demand

The detention of Fortune Land’s co-president Meng Jing is connected to a broader probe involving football coach Li Tie and investigation of Chen Xuyuan, the president of the Chinese Football Association. Source : South China Morning Post Read more…Detention of China Fortune Land’s co-president linked to wider probe of Chinese football officials, reports […]

Troubled mainland developer China Fortune Land says in exchange filing co-president Meng Jing has been detained by authorities due to suspected ‘violation of laws’. Source : South China Morning Post Read more…Troubled developer China Fortune Land says co-president has been detained due to suspected ‘violation of laws’

The indebted Chinese developer said it plans to raise up to 15 billion yuan by issuing 1.1 billion shares to specific investors in the Shenzhen stock market to replenish its liquidity and fund real estate projects that are already under way. Source : South China Morning Post Read more…Cash-strapped China Vanke seeks US.2 […]

Amid economic uncertainty and unease about property prices, homeowners in China are sensibly using savings to get ahead on their mortgages, a trend at odds with the national priority of spurring spending. Source : South China Morning Post Read more…China’s disgruntled homeowners drive ‘wave of early repayment’ on mortgages, threatening Beijing’s consumption drive

Wuhan became the first top 10 mainland city by economic output to fully remove home ownership limits to help stop the rot in the property market. Beijing, Shanghai and Shenzhen are unlikely to follow suit, JLL says. Source : South China Morning Post Read more…China property: Wuhan takes drastic measure to stop the […]

China needs to do more in order to fix its real estate problems, the International Monetary Fund said Friday. Source : cnbc.com Read more…China’s real estate crisis isn’t over yet, IMF says

Thirty mainland Chinese cities lowered mortgage rates for first-time buyers to below the key level of 4.1 per cent in January, according to the Beike Research Institute, as local governments respond to Beijing’s pledge to help people get onto the property ladder. Source : South China Morning Post Read more…China property crisis: thirty […]

However, its economist warned that the sector will be “going from a very fragile situation,” given its contraction in every single quarter of 2022.  Source : cnbc.com Read more…Hong Kong services to rebound as China reopens, but UBP says sector is coming from ‘fragile situation’

China’s top 100 developers reported a decline in contracted sales in January, according to CRIC, suggesting that Beijing’s recent support policies have been more effective in rescuing cash-strapped home builders than stimulating demand. Source : South China Morning Post Read more…China’s top 100 developers report decline in sales in sign government support policies […]

The cash-strapped Chinese developer said its Hong Kong-listed shares could resume trading in March after almost a year of suspension prompted by the company’s failure to publish its 2021 accounts on time. Source : South China Morning Post Read more…China property crisis: Kaisa aims to resume shares trading in March after publishing delayed […]

Property investment dropped 10 per cent to 13.29 trillion yuan (US$1.98 trillion) in China last year, the first time it has fallen since 1999, prompting analysts to warn its contribution to the economy is shrinking. Source : South China Morning Post Read more…Property to play ‘diminished role’ in China’s growth, say analysts, as […]

Many mainland cities including Changsha and Nanjing have come with generous policies to help skilled immigrants buy new homes and spur economic growth. Source : South China Morning Post Read more…China’s Changsha, Nanjing relax homebuying restrictions, offer generous subsidies as they compete for talent to boost growth

“As external demand falls due to an impending recession in the West, China’s economy must rely more heavily on the consumer,” said KraneShares. Source : cnbc.com Read more…China’s economy looks set for a rebound in 2023, but a lot depends on one variable, KraneShares says

The PBOC will channel 80 billion yuan (US$11.8 billion) of loans to high-quality developers through the nation’s biggest bad-debt asset managers, with a similar amount to be matched by the distressed debt firms, according to sources. Source : South China Morning Post Read more…China bad-debt firms plan refinancing support of up to US […]

The reopening of Hong Kong’s borders with mainland China and the rest of the world is likely to boost the take up of office space in the city, but rents are not expected to rise significantly, analysts said. Source : South China Morning Post Read more…China border reopening to boost demand for Hong […]

In light of China’s reopening and easing of Covid rules, Hong Kong’s property market will be on a path to recovery in 2023, according to Colliers Hong Kong.   Source : cnbc.com Read more…China’s reopening set to boost Hong Kong’s property market as retail leads the recovery: Colliers

It will be impossible to wring speculation out of the sector without much lower prices and a significant increase in financial distress. But the longer the economy is dependent on an ever-rising property market, the higher the economic costs of reform. Source : South China Morning Post Read more…Painful as it is, China […]

China has begun the new year by extending its policy of easing mortgage rates and pledging ‘strong support’ for first home purchases with the aim of turning the tide for its ailing property market. Source : South China Morning Post Read more…China pledges lower mortgage rates, ‘strong support’ for first-time homebuyers in bid […]

Sunac is buying an additional 3.5 years to repay local bondholders, a reprieve that may allow the developer to see out the current industry slump as Beijing turns more supportive of the players. Source : South China Morning Post Read more…Sunac China buys more time as domestic bondholders agree to US.3 billion debt […]

Property and technology stocks continued to lift the Hang Seng index, which rose more than 3% in Wednesday’s session. Source : cnbc.com Read more…Hong Kong stocks are off to their best start since 2018 on China recovery hopes

Sunac is rushing to sell more assets as the Chinese developer tackles US$11 billion of debt owed to offshore creditors. Source : South China Morning Post Read more…Sunac China sells Shenzhen snow park project to state-owned partner to tackle US billion debt load

Evergrande founder Hui Kayan has pledged to repay creditors and deliver projects this year in a letter to his employees, saying the company can fulfil its mission if they work together. Source : South China Morning Post Read more…China Evergrande crisis: founder Hui Kayan vows to repay debt and ‘start new chapter on […]

Home prices in 100 cities fell 0.08 per cent month on month in December, after falling 0.06 per cent in November, according to a survey by China Index Academy. Source : South China Morning Post Read more…China home prices fall at faster pace in December, extending decline for sixth straight month

China Evergrande Group delayed releasing a much-anticipated restructuring plan again, missing a self-imposed deadline and disappointing creditors seeking to salvage investments. Source : South China Morning Post Read more…China Evergrande crisis: world’s most indebted developer misses overhaul proposal deadline amid creditor talks

The receivers are hoping stronger buyers will emerge to snap up the trophy building, as they add value by bringing in new tenants and extending current leases. Source : South China Morning Post Read more…China Evergrande: receivers plan to add value, boost appeal to Hong Kong tower for next auction

Authorities in Chongqing said families can now own more than one home provided one of them is rented out while also allowing non-locals to enjoy the same mortgage policy as the locals. Source : South China Morning Post Read more…China’s megacity Chongqing joins Dongguan, Foshan in easing homebuying restrictions to revive ‘pillar of […]

Debt-stricken China Fortune Land agrees to sell its interests in four projects to a state-backed firm to pare debt. Source : South China Morning Post Read more…China Fortune Land to raise US.78 billion from asset sales to repay creditors

Yang Huiyan has dipped into her own pocket to provide a financial lifeline to the developer she co-chairs, just weeks after selling part of her stake in the company’s property-management unit. Source : South China Morning Post Read more…Country Garden gets US7 million no-interest lifeline from China’s richest woman Yang Huiyan following asset […]

Demand in China’s commercial real estate market will pick up in mid-2023 as part of a larger reopening of the country and subsequent economic revival, property analysts predict. Source : South China Morning Post Read more…China’s commercial real estate market expected to pick up in mid-2023, with more investment on the way

Dongguan lifts home-buying curbs in the city’s last five remaining neighbourhoods, but maintains restrictions on resales for two years to dampen speculation. Source : South China Morning Post Read more…China’s hi-tech manufacturing hub Dongguan lifts property-buying restrictions to stimulate demand

Two stalled China Evergrande Group projects in Kunming, the capital of China’s southwestern Yunnan province, are on track for completion after a takeover by Kunming Green Star Construction Development. Source : South China Morning Post Read more…New investor to resume construction at China Evergrande projects in Kunming

Beijing’s top decision making body called for rescue measures for the property sector to be properly implemented, after regulators vowed to support the bruised industry to boost economic growth. Source : South China Morning Post Read more…China’s State Council calls for implementation of property market rescue measures to boost economic growth

The Baihetan hydropower plant on the Yangtze river, equipped with sixteen 1-gigawatt turbines, is estimated to generate 62.44 billion kilowatt-hour annually Source : arabianbusiness.com Read more…China reveals world’s second largest hydropower project

The slump in home sales showcases the extent of the cash crisis at China’s once-biggest home builder. There is no good news for offshore creditors as a long-awaited restructuring plan remains elusive. Source : South China Morning Post Read more…China Evergrande: crisis crimps home sales to 7 per cent of annual takings while […]

China, and India – another leading oil importing country, have been making large investments to develop renewable energy sources to lessen their dependence on oil imports Source : arabianbusiness.com Read more…China posts over 8 percent rise in renewable energy production to reach 2.51 KW installed capacity in Jan-Nov

Aramco and Sinopec announced signing heads of agreement for a greenfield project in Gulei, Fujian Province Source : arabianbusiness.com Read more…Aramco, Sinopec and SABIC to join hands for refining and petrochemical projects in China, Saudi Arabia

Swire Properties is buying out its partner in one of China’s top commercial properties in Chengdu. The acquisition is part of the group’s US$12.7 billion, 10-year plan to increase its presence in core markets. Source : South China Morning Post Read more…Swire Properties to buy China’s top shopping centre in Chengdu for US6 […]

China summits in Saudi Arabia saw around $50bn of investments Source : arabianbusiness.com Read more…China signs bn investment deals in Saudi Arabia: Minister

Sinopec has signed a deal with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project Source : arabianbusiness.com Read more…Saudi Aramco signs deal with China’s Sinopec