International News
China’s Property Investment Down 7.4% Y-o-Y During First 8 Months of 2022
China’s investment property investment dropped by 7.4% y-o-y in the first eight months of 2022, a further decrease of 1% in the first seven months, reported Xinhua. According to the National Bureau of Statistics (NBS) report, the total property investment in this period was 9.08 trillion yuan (US$1.31 trillion). Investment in residential buildings shares were […]
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JLL Forecasts Asia’s Hospitality Investment in 2022 to Rise by 80%
Hotel investment in the Asia Pacific will continue to recover in Q4 of 2022 and into 2023 with more investors pouring their capital into the sector at the highest levels since the COVID-19 pandemic, According to JLL’s Hotels & Hospitality Group’s Global Hotel Investor Sentiment Survey, global hotel investment is projected to rise by 80% […]
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Evergrande Pledges to Resume All Paused Property Project
China Evergrande has vowed to restart construction of all frozen property projects by the end of September, prompting a response to the nationwide mortgage boycott, reported the Financial Times. 38 projects will be resumed by the end of September while 62 others will be restarted to “normal level”, according to a company statement released on […]
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Investor Sentiment Leaning Towards Asia Pacific in 2022, Say Experts
Investors around the world are becoming more cautious in investing in real estate as well as other sectors, as uncertainty in the macroeconomic environment is ongoing, say, experts, emphasizing that the Asia Pacific market has gained more popularity lately compared to other regions. Despite the more cautious approach, the market in the Asia Pacific will […]
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Chinese Gov’t to Issue US$29bn Loan to Help Developers Complete Housing Projects
The Chinese government plans to issue 200 billion yuan (US$29 billion) in special loans to help developers finish their stalled housing projects, according to Caixin. This loan will be issued under the cooperation of the Ministry of Housing and Urban-Rural Development, the Ministry of Finance, and the central bank. The loan may be provided by […]
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Evergrande’s Headquarter on Tender to Settle Its Crippling Debt
The China Evergrande Group is calling for buyers to buy its US$1.7 billion Hong Kong headquarters, according to Nikkei Asia on 28 July 2022. CK Asset Holdings, founded by Hong Kong billionaire Li Ka-shing, has made a tender on China Evergrande Centre for US$1.7 billion, of which the price once has been on sale last […]
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Asia’s Richest Woman Loses Half Her Wealth in China Property Crisis
Asia’s wealthiest woman lost more than half her fortune over the past year as China’s real estate sector was rocked by a cash crunch, a billionaire index showed on Thursday 28 July. Yang Huiyan is a Chinese-born billionaire businesswoman and property developer. She is the majority shareholder of Country Garden Holdings, a stake largely transferred […]
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Evergrande Bondholders Dismiss Plan to Delay US$671M Payment
China Evergrande’s bondholders have dismissed a plan to delay payment for 4.5-billion-yuan, accounting for a US$671 million bond, according to Asia Financial on 11 July 2022. Evergrande told the Shenzhen Stock Exchange that it was in talks with bondholders to reach an agreement as soon as possible. In the statement, Evergrande added that it was […]
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Thailand Urged to Establish Joint SEZs with Bordering Countries
The Thai government is being urged to accelerate the stimulation of border trade and establish joint special economic zones with bordering countries to boost trade and investment. Surong Bulkul, Vice-Chairman of the Chamber, said it proposed the government speed up the reopening of border checkpoints between Thailand and Malaysia, Laos, Cambodia, and Myanmar in order […]
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US McDonald’s Brand Renamed in Russia Due to Economic Sanctions
More than 800 McDonald’s stores in Russia have been rebranded after the US-based company decided to leave Russia over the war of aggression in Ukraine. McDonald’s decided to sell all 850 stores in Russia to local investor Alexander Nikolaevich Govor for US$1.4 billion, CNN reported on 13 June. The American McDonald’s brand, which has been […]
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