Asia Property Market Review.net

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Asia Pacific Property Markets News October

 

 

 

 

October   2016

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• Singapore sold 8% more newly- built private residential unit in September than the month before, according to data released by housing authority URA (October 19)

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• HK's Kerry Properties has won a bid of a piece of land in the Kowloon island for  a record high price (October 6)

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• Shareholders voted to take Temasek's privatization plan of SMRT Singapore Metro Operator SMRT (September 29)

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• OUE Singapore said it has signed Oakwood Asia Pacific to manage its new serviced residences at OUE Down-town(October 8)

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• Minmetals Land said its contracted sales in the first nine months reached approximately RMB10.13 billion, representing year on year growth of 72.3%. the average selling price reached approximately RMB20,400 per square metre, up 2.2% YoY. As of the end of September 2016, the company’s contracted sales has exceeded its annual contracted sales target of RMB 9.0 billion. (October 17)

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• CapitaLand's Ascott Residence Trust (REIT) said its distribution per unit (DPU) for 3Q 2016 rose 14% year-on-year to SGD 2.35 cents, the highest DPU registered in the past three years (October 20) 

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• Keppel Land's holding company Keppel Corp reportred Q3 net profit fell 38% year on year, as the slump in the energy sector eroding its profit (October 20) 

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• CapitaLand has set up a USD 1.5 billion fund to integrate five commercial projects in the fund, it is the company's third China fund and its biggest so far (October 25) 

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• CapitaLand Commercial Trust said it has submitted application to the government to rebuilt a car-park in down town Singapore into an office tower (October 22) 

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• Shimao Properties says its aggregated contracted sales for the nine months ended September amounted to approximately RMB51.26 billion, representing a year-on-year increase of 9% (October 14)

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• Central China Real Estate, a leading Henan-based property developers, said that the company proposes to issue senior USD notes (October 31)

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• BNP Paribas's property research team led by Wee Liat Lee believes for the current market developers can sustain sales and margin growth into 2017 and 2018 only if they have sown the seeds in 2015 and 1H16, making countercyclical land acquisitions and buying land when it was still cheap (September 22)

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