Asia Property Market Review.net

 

Asia Pacific Property Markets News July

 

 

 

 

July   2016

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• Hong Kong's private residential property price index ended 275.5 for May, according to the latest data released by the Rating and Evaluation Department, it is 0.73% higher than April, 10% lower than peak of 306.1 of last September (July 1)

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• Singapore's private residential property index fell 0.6 point to 140.0 points in the second quarter from 140.6 points in first quarter, according to flash estimate released by the urban land authority. This represents a decline of 0.4% by quarter-on-quarter basis,  slightly slower than the 0.7% decline in the previous quarter. (July 1)

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• From January to June 2016, Fantasia Holdings recorded contracted sales of RMB4.81 billion, representing a year-on-year increase of 18.9%, with approximately 448,271 sq.m. in aggregate sold GFA. The Group’s property development business is expected to grow steadily in the second half of the year, based on the current inventories and market trend, Fantasia said, when announcing launch of its smart community e-platform (July 6) 

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• The ASX-listed engineering giant CIM said the Hong Kong government had tapped its subsidiary Leighton Asia and JV partner China State Construction Engineering to build the Tseung Kwan O — Lam Tin Tunnel (July 11)

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• China's Fujian-based Yuzhou Property spent RMB 4.1 billion bought a piece of land in Hangzhou China for a complex development near West Lake (July 12)

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• China Greentown has spun off its property management service unit to list it as a new IPO in Hong Kong, debut today as Greentown Service Group (July 12) 

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• CapitaLand Comm Trust gets unitholders' voting greenlight to acquire CapitaLand's 50% stake in the CapitaGreen building in Singapore (July 13) 

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• Deparment store operate Lifestyle International, owner of two SOGO stores in Hong Kong, listed its China department stores in Hong Kong as Lifestyle China. Debut today, Lifestyle China is the operator of department stores operates Shanghai Jiuguang, Suzhou Jiuguang and Dalian Jiuguang “lifestyle” department stores in the mainland China. (July 15)

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• Las Vegas Sands reported second-quarter earnings fell 30% as its biggest Sands operation in Macau recorded steep fall of profits.  Revenues for Sands China decreased 16.4% to  USD1.48 billion in the second quarter whereas net profit decreased 39.0% to USD237.0 million. Its Singapore operation Marina Bay Sands generated revenue of USD710 million during the quarter compared to USD 710million a year ago. Adjusted property EBITDA dropped minorly to USD 357.0 million in the second quarter when compared with USD 363 million of Q2 last year. (July 26)

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• Commercial property developer LT Commercial Real Estate spared HKD 3.30 million bought HK-based asset management firm First Investment Management , making a foray into the asset management while adding asset management a new category to its portfolio. (July 27)

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-- APMR News

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