New sports institute to be established in Iskandar, Malaysia
The Johan Cruyff Institute for Sports Studies (JCI), Education@Iskandar Sdn Bhd (EISB) and the Pelorus Dutch Sports Technology (PDST) Sdn Bhd have inked a memorandum of understanding (MOU) to establish the Johan Cruyff Institute Malaysia (JCIM) in EduCity, Iskandar Malaysia (EduCity@Iskandar).A...
Continue Reading • 28 Apr 2011
China property tax a must, says researcher
Property tax in China is needed in order to reverse a significant imbalance in wealth distribution, according to Zhang Monan, a researcher from the State Information Centre.According to Ms. Zhang, China needs to improve its property reporting system and to levy taxes on different personal...
Continue Reading • 27 Apr 2011
Wing Tai, Singbridge to develop China housing project
Wing Tai (China) Investment Pte Ltd, a property investment arm of Wing Tai Holdings Limited, has inked a joint venture (JV) agreement with Singbridge Guangzhou Pte Ltd, a subsidiary of Singbridge International Singapore Pte Ltd, to jointly develop a housing project in the Sino-Singapore Guangzhou...
Continue Reading • 26 Apr 2011
Ascott acquires Frankfurt property, furthers German expansion
The Ascott Limited (Ascott) has extended its reach to Frankfurt, Germany’s transportation and financial centre. The company will invest around S$50 million in a turnkey serviced residence which is set to launch in 2014.This follows Ascott’s expansion in Hamburg, Germany’s second...
Continue Reading • 20 Apr 2011
Residential property prices in KL to rise 10%
Prices of residential properties in Kuala Lumpur are expected to increase 10 percent this year, given the higher replacement costs and rebound in transaction volume, according to AmResearch.The research unit of the AmInvestment Bank group, one of Malaysia’s largest investment banks, noted...
Continue Reading • 20 Apr 2011
Dip in Mainland home prices more widespread
More Chinese cities witnessed home prices drop last month, according to official data, indicating that the government’s cooling measures could actually be taking effect.The National Bureau of Statistics data, which was released a day after authorities moved to further restrict lending by...
Continue Reading • 19 Apr 2011
Ascott secures Macau contract
The Ascott Limited, a wholly-owned serviced apartment business unit of CapitaLand, has secured a contract from China Overseas Property to manage its Macau project.The project, to be named Ascott Paragon Macau, will become Ascott's maiden project in Macau.“As the first international serviced...
Continue Reading • 19 Apr 2011
Shenzhen implements own property cooling measures
Shenzhen has followed in the footsteps of Chongqing and Shanghai in using measures to curb increasing home prices.The imposition on new flat prices of an average cap of 22,000 yuan (HK$26,190) psm has made Hong Kong’s neighbour the first second-tier mainland city to regulate real estate...
Continue Reading • 15 Apr 2011
Final premier units in Metro Residences up for sale
The final 91 apartments, comprising of two-, three- and four-bedroom skyhomes and penthouses on the upper 18 levels at the Metro Residences at Chatswood will be released for sale on 16 April.Metro Grand, the highest of the three buildings to be developed above the Transport Interchange in...
Continue Reading • 15 Apr 2011
Lee Shau-kee's land bank could supply 45,000 new homes
Henderson Land Development can supply Hong Kong with 45,000 new flats from its own land bank, more than the government’s annual target, Chairman Lee Shau-kee has boasted in his official biography.According to the book, Lee Shau-kee, who currently owns more than 40 million sq ft of rural...
Continue Reading • 14 Apr 2011
New rules to regulate HK property agents
Effective 1 May, real estate agencies in Hong Kong could have their licenses permanently revoked if they violate new regulations on the sales of primary residential properties, according to the Estate Agents Authority.The authority has updated its guidelines for property sales in order to prevent...
Continue Reading • 14 Apr 2011
China bans foreign investment in villas
China is set to prohibit foreign investment in the development of villas, apparently part of the government’s measures to cool the property market.Planned revisions to the Catalogue Guiding Foreign Investment in Industry included foreign investment in the building and management of villas...
Continue Reading • 12 Apr 2011
Cooling measures hit China home prices
Home prices in Chinese cities fell, on the back of lower demand amid measures to curb soaring property prices, according to Xinhua.The local news agency said that the number of home buyers is no longer declining, despite discounts offered by property developers, it said.Li Ning, Market Manager of...
Continue Reading • 11 Apr 2011
HK's first yuan REIT officially launched
Li Ka-shing’s first Hong Kong yuan-denominated real estate investment trust (REIT) was officially launched on 10 April.Relying on demand from investors seeking to benefit from growth in China’s property market, the Hui Xian REIT can potentially raise as much as 11.16 billion yuan...
Continue Reading • 11 Apr 2011
More HK flats to be released in April
Property developers are preparing to launch 11 residential projects this April, a move welcomed by home buyers in Hong Kong.Kerry Properties will release the first 50 units of the 968-unit Lions Rise development at Wong Tai Sin, with a selling price of approximately HK$12,000 psf.Despite the...
Continue Reading • 8 Apr 2011
Bangkok's City Viva Mall to open in May
Bangkok property developer Sun Assets Global, a subsidiary of Nimit Group, is scheduled to launch The City Viva community mall on Sathorn Road next month.According to reports, 92 out of the 280 planned shops have already opened, while the rest are expected to open in May.Managing Director Suriya...
Continue Reading • 8 Apr 2011
Property price stability China's top priority
China should include housing price stabilisation in its primary monetary policy goals, according to a top government official, a day after the central bank has increased interest rates for the fourth time since October 2010.Since property acquisition is a significant part of consumer spending,...
Continue Reading • 7 Apr 2011
Art hub to transform West Kowloon
The planned US$2.8 billion West Kowloon Cultural District in Hong Kong will transform the area’s landmark and status as a luxury neighbourhood, similar to the high-end suburbs across Victoria Harbour. The 40 ha art hub, designed by Norman Foster, the architect behind London's Gherkin tower,...
Continue Reading • 7 Apr 2011
China struggles to reduce housing prices
China faces a significant challenge, as local governments are having difficulty rolling out home price control targets required by the central government, according to local news agency Xinhua.“Local governments have to make a tough choice between netting revenues from selling land to...
Continue Reading • 6 Apr 2011
HK to launch 2,689 flats this month
At least four new property projects are expected to be sold in Hong Kong this month, amounting to 2,689 flats for sale.Developed by Kerry Properties, Lions Rise in Wong Tai Sin will offer 968 flats, the largest number of units to be offered in the Hong Kong property market. The flats range in...
Continue Reading • 5 Apr 2011