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CK Asset sells 44 per cent of flats during weekend sale at Shanghai residential project as location, price controls draw buyers

Beijing’s policy of imposing curbs on how much developers can charge for homes has helped ignite sales, especially on the upper end of the market, as buyers snapped up nearly 500 units of a prime project in Shanghai at prices 10 per cent lower than a similar project.The sale, which took place at CK Asset Holdings’ project Upper West Shanghai, bodes well for other prime projects with artificially low prices, analysts said.CK Asset, which has two projects underway in Shanghai, netted 4.3 billion… Source link

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Vietnam 

Central province approves hi-tech farming project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Attracting hi-tech and safe agricultural projects has opened a new direction for Quảng Ngãi’s agricultural sector, helping it develop safe and organic agricultural production, heading towards sustainable development. baodantoc.com.vn HÀ NỘI — Quảng Ngãi High-Tech Agricultural Joint Stock Co under Trần Việt Group got approval in principal from the Quảng Ngãi People’s Committee to develop a hi-tech farming project in the locality. The project, expected to cost about VNĐ294 billion (US$13 million), will cover 196ha in Mỗ Đức District. It will also include an agricultural processing…

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Hong Kong developer walks away from Kai Tak project, citing ‘social contradiction and economic instability’

The Hong Kong developer that beat out several of the city’s biggest and wealthiest property groups for a commercial plot at the former Kai Tak Airport in May has had a change of mind after less than a month, saying it will abandon the offer, citing “social contradiction and economic instability”.Goldin Financial Holdings told a telephone conference on Tuesday that it was rescinding its HK$11.1 billion (US$1.42 billion) winning bid for C Site 4 at Kai Tak at the city’s former airport, forfeiting… Source link

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Money 

China relaxes infrastructure project finance rules, but analysts warn it will have limited economic impact

China’s latest stimulus move to bolster economic growth by relaxing restrictions on how the proceeds of local government bonds are used, paving the way for a new wave of infrastructure investment, will only have limited impact on the overall economy, analysts warned.Local governments can now use the funds raised as equity capital for major infrastructure projects having previously needed to fund the minimum equity ratio requirement, usually 20 to 30 per cent of total investment in the project,… Source link

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Property mogul Wang Jianlin’s Wanda Group to invest US$11.7b in world-class tourism project in rust-belt city of Shenyang

Wanda Group, the profligate Chinese conglomerate that is halfway through a massive debt-shedding exercise, has unveiled one of the largest ever investments in the northeastern Chinese city of Shenyang totalling 80 billion yuan (US$11.7 billion).The property-to-entertainment conglomerate controlled by tycoon Wang Jianlin said on Wednesday that the new investment will go towards building a “world-class” cultural tourism project, an international hospital, an international school and five Wanda… Source link

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Singapore 

20 SMU students injured in bus accident in Vietnam during community service project trip, Singapore News

SINGAPORE – Twenty Singapore Management University (SMU) students who were in Vietnam for an overseas community service project were injured last Saturday (May 11), after the bus they were travelling in hit a road kerb. The students were part of a group of 30 who were in the central Vietnamese city of Hue for the fourth edition of Project Phoniksa, launched by the university’s Rotaract Club. They had been in the country since April 28 and completed the project last Thursday. They were on a recreational programme last Friday and…

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Victor Li and Richard Li, the sons of Hong Kong’s richest man Li Ka-shing, work together for first time on heritage project

A newly refurbished heritage project in the tourist hotspot of Tsim Sha Tsui is the result of an unusual collaboration.The revamp of 1881 Heritage, a historical building that housed the former Marine Police Headquarters, involved the two sons of Hong Kong’s richest man Li Ka-shing and their companies working together on a project for the first time.Victor Li Tzar-kuoi, 54, and his younger brother Richard Li Tzar-kai, 52, on Wednesday co-hosted a ceremony with Chief Executive Carrie Lam Cheng… Source link

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No takers for Sun Hung Kai Properties’ Park Yoho Napoli project in Yuen Long

The first day of the Easter holiday has proved to be big disappointment for Sun Hung Kai Properties.Hong Kong’s largest developer by market value sold just five out of 113 flats on offer at its Park Yoho Napoli project in Yuen Long – the worst for any builder since late November when only two out of 27 units were sold at Jiayuan International Group and Stan Group’s T Plus micro flats project in Tuen Mun.Market watchers said the poor sales reflects prospective buyers’ wait and see attitude, as a… Source…

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Hong Kong developer Henderson Land sells a third of 101 units at Yuen Long project

Hong Kong developer Henderson Land sold about a third of the 101 apartments on offer at its Reach Summit project in Yuen Long on Tuesday, in further evidence a recovery in the city’s property market was taking hold after a five-month correction in prices.The apartments, ranging from 255 to 381 sq ft in area, were offered at an average discounted price of HK$16,088 per square foot, an increase of 1.3 per cent over the average price of HK$15,881 offered when the project was launched late last… Source link

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China 

China presses on with interest in UK’s high speed rail project with high level meeting in Beijing

China is pressing ahead with its interest in the United Kingdom’s controversial HS2 project, the largest high speed rail project in Europe, despite growing concerns over its cost and economic benefits.Members of China’s government and biggest state-owned railway companies met with HS2 chief executive Mark Thurston in Beijing earlier this month, signalling China’s interest in the £55.7 billion (US$72.9 billion) project, which will be funded by British taxpayers. China is bidding for construction… Source link

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