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March Property Market Review

Companies

[March - 20 - 2017] China's China Evergrande Group on March 19 said it issued USD500 million 7.0% senior notes due 2020 and USD1 billion 8.25% senior notes due 2022.

[March - 30 - 2017] Luxury home builder Shimao Property announced net profit from its core business attributable to shareholders for the year 2016 amounted to approximately RMB6.251 billion and net profit margin from core business attributable to shareholders was 12.8%

[March - 10 - 2017] Wheelock Property Group's profit attributable to shareholders in 2016 rose by 15% from a year ago to HKD16.29billion, the company sold an office building during the year booking one-off gain of HKD4.5billion

[March - 22 - 2017] China Overseas Land reported revenue decreased 3.2% to HKD164.07billion in the financial year ended 2016, operating profit rose 14.5% year on year to HKD57.91billion (USD8.43billion)

[March - 27 - 2017] Kaisa Group, the first Chinese property developer to default on its overseas debt, surged by 85% after its shares resumed trading after a two-year suspension

[March - 22 - 2017] Cheung Kong Properties, the real estate arm of Cheung Kong Hutchison Group chaired by Hong Kong's richest billionaire Li Ka Shing, announced audited profit attributable to shareholders for the year ended 31 December 2016 rose 13% year on year to HKD19.42billion

[March - 16 - 2017] Swire Properties, the real estate arm of Swire Pacific Group, reported underlying profit in 2016 rose to HKD7.11billion (USD920million) from HKD7.08billion in 2015, while revenue rose 2% to HKD16.8 billion in 2016

[March - 28 - 2017] Joy City Property, the real estate unit of China's COFCO Group, reported total revenue amounted to RMB6.99 billion in 2016, increased by 30% YOY. Gross profit increased by 30% to RMB3.76billion RMB, gross profit margin was 53.82%. Excluding the non-cash income, core net profit increased by 20% to RMB600 million. Net gearing ratio decreased by 32.83pps to 30.09% at 2016 December 31

[March - 17 - 2017] Kerry Properties, the real estate spin off of Kerry Group chaired by Malaysia billionaire Robert Kuok, reported profit attributable to shareholders for the year ended 2016 increased 18% HKD6.53billion from HKD5.53billion in 2015

[March - 13 - 2017] Canada Pension Investment Board has tied up with Ivanhoé Cambridge to develop and acquire logistics #properties in Singapore and Indonesia

[March - 10 - 2017] Wheelock Property Group's profit attributable to shareholders in 2016 rose by 15% from a year ago to HKD16.29billion, the company sold an office building during the year booking one-off gain of HKD4.5billion

[March - 15 - 2017]China's Guangdong-based Agile Properties reported net profit rose 32.5% to RMB3.05billion. Overall gross profit margin and net profit margin were 26.5% and 6.5%. Net gearing ratio were reduced to 49%

[March - 8 - 2017] Developer CIFI Holding reported core net profit increased by 27.8% to RMB2.824billion for the financial year ended December 2016, gross profit margin reached 25.4%. The company managed to reduce net gearing ratio to 50.4% as at 31 December 2016 from 59.2% by 2015 year end

[Mar - 22 - 2017] Maoye International announced total operating revenue rose 68.3% to RMB6.925billion on year, earnings before taxes, were RMB2.19billion, representing a year-on-year increase of 55.4%. Profit for the year was RMB112.1 million, representing a year-on-year decrease of 61.3%. The board recommended the payment of a final dividend of HK0.3 cent in cash per share for the year ended 31 December 2016

[March - 13 - 2017] HK's SogoMall operator Lifestyle International reported continuing operation aggregate gross sales went down 4.6% year on year to HKD9.6 billion in 2016, profit attributable to owners from continuing operation amounted to HKD1.57billion, similar to that in 2015, reported profit (continuing and discontinued) was down 16.9%. The Group completed in July 2016 the spin-off and separate listing of its department store and freshmart business in mainland China under Lifestyle China Group

[March - 22 - 2017] Fast casual restaurant chain operators Ajisen (China) announced turnover in 2016 amounted to RMB2.379billion. Gross profit was RMB1.71billion. Gross profit margin increased to 72.0% from 69.6% in 2015. Profit attributable to owners of the Company amounted to RMB665 million, representing an increase of 260%. Net profit margin also increased from approximately 7.3% last year to approximately 28.0%.The Group’s basic earnings per share were RMB0.61 (2015: RMB0.17)

[March - 6 - 2017] Building material maker China Lesso reported 2016 full year profit increased by 18.2% to RMB1.91billion for the financial year ended December

[March - 7 - 2017] Hong Kong subway operator MTR reported net profit decreased 21% in 2016 from a year ago to HKD10billion

[March - 30 - 2017]Department Store Developer Golden Eagle said revenue amounted to RMB4.69billion, increased by 14.7%, profit from operations rose 22% year on year to RMB1.47billion in 2016. Same store sales growth slowed by 4.1% during the year

[March - 14 - 2017] West China Cement reported that it reversed losses and made a profit of HKD10.3million in the financial year of 2016 from a loss of HKD309.2million in 2015

[February - 26 - 2017] China investment firm set up by two Hong Kong-listed mainland China property developers took the bid of a piece of land in Hong Kong for the record high price in the island's land bidding history

Macro

[March - 10 - 2017] Singapore government announced today to relax property cooling measures on the seller stamp duty and total debt servicing ratio framework front, according to a joint release by the ministry of finance, monetary authority and national development office >>

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