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The Canada Pension Plan Investment Board (CPPIB) will invest $800 million in two new property developments in China by developer Longfor Properties, it announced on Monday.
China Vanke, one of China’s largest residential property developers, is setting up a fund in collaboration with China’s largest bank ICBC to invest in distressed assets, reflecting a structural shift in asset trading away from new property developments.
Longfor Properties Co, one of the mainland’s top 10 developers, is seeking to expand its footprint in commercial and residential property leasing in an effort to tap new growth engines as the domestic property market cools.
No issue date revealed for asset-backed notes for which China Construction Bank will be lead underwriter (1-0)
In July, the government identified 12 cities that have seen net population inflows, including the southern metropolis of Shenzhen, Beijing and Shanghai, making those cities great places to be a tenant, with subsidies offered galore (84-0)
Construction activity in the district is proceeding at a frantic pace – especially in the Kai Tak development area, which has become a hot spot for residential properties
Hong Kong budget hotels in non-core areas are keen to join other investors to convert their underperforming properties into co-living spaces, as it provides a cheaper alternative for millennials priced out of the world’s most expensive housing market.
Yuppies with the taste for communal living in Beijing are being spoiled for choice as an increasing number of private firms move into this latest strand of residential leasing, thanks to backing from the government. (0-1)
Following Mofang and Ziroom’s successful issuance of Asset Backed Securities (ABS), China Young Professional Apartments (CYPA) and Poly Real Estate (Poly China) have now been given the green light to launch quasi-Real Estate Investment Trusts (REITs). Property developers, such as China Vanke, CIFI Holdings (Group), Longfor Properties and Landsea Green Properties, Poly China has entered the business of long-term rental spaces.
Reits are popular with investors in developed markets like the US, but legal and regulatory hurdles are preventing the launch of these products in China
The 2017 Hurun Report shows 49 Chinese women are on the global list of self-made billionaires, making up 63 per cent of the worldwide total.
Harbour’s target is to create 20,000 rentable co-living units in eight Chinese cities including by the end of 2017, to quadruple that number to 80,000 by 2019, and hit the million market with a possible float of Harbour within five years
51 companies recorded 314 purchases by directors worth HK$480 million, while seven firms reported 24 disposals worth HK$400 million. (3-0)
Higher salaries and house prices will encourage spending on luxury goods as malls offer customers an experience they can’t find online