Asia Pacific Property Markets News August
August 2016
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Hong Kong's prices of private residential property index maintained at 275.7 at the end of June, unchanged from 275.7 at the end of May, it is 8.9% lower than same month a year ago. Island-wise rental index readings is 165.1 for the whole territory, up from 164.3 at the end of May, it is 5.2% lower than same time period last year. (August 1)
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Yangtze River Delta-focused developer Future Land Development, reported net profit attributable to equity holders grew 41.0% to RMB491 million for the first half ended June. Core earnings (excluding after-tax fair value gains on investment properties) attributable to equity holders increased 121.1% to approximately RMB306.3 million. Earnings per share rose 50% during the term to HKD 9 cents per share for the interim result. (August 1)
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China Evergrande splashed RMB9.1billion bought 4.68% stake of China Vanke's A-share (August 4)
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China MinMetals Land, through its wholly-owned subsidiary, acquired a piece of land in east Kowloon for a consideration of HKD4.005 billion. Yau Tong Land has a site area of approximately 113,300 square feet and a maximum gross floor area of approximately 566,700 square feet, it will be developed into a high-rise residential development with water-front promenade and landscaping, the company said. (August 4)
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Founded by Macau business Powerlong Properities, Core earnings , which excludes the profit attributable to fair value gains on investment properties for the period under review, increased 26.2% to RMB780 million, Gross profit margin amounted to 37.2%, representing an increase as compared with 32.3% for the corresponding period in 2015; Net gearing ratio 75%
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