Leading today’s news, Chinese capital is reportedly on the rebound in Sydney. Also, in the headlines, Hong Kong’s Great Eagle seems to be creating America’s first politically-aligned hospitality brand, and Shenzhen condo projects are going rental as China looks for ways to make homes affordable again. Read on for all these stories and more.
Chinese Investment Rebounds in Sydney With New Office Deal
Cashed-up Chinese groups are pushing deeper into Sydney’s suburban offices and apartments with sites worth about $200 million changing hands, defying concerns about a year-on-year slump in Chinese outbound property investment in the third quarter.
In the latest move, a private Asian group has swooped on an office tower in North Sydney for close to $52m. The first-time buyer in Australia will keep the building as it is rather than develop, as it generates a steady income and rents are rising. Read more>>
Great Eagle Rebrands DC Hotel to Attract Activist Travellers
Hotels have adopted plenty of popular trends in recent years–eco-friendly, “experiences,” heated toilet seats–but a new brand might be attempting the most ambitious one yet: Activism.
The newly announced Eaton hotel and coworking space in D.C. intends to be the brick-and-mortar hospitality brand of social good. The 209-room establishment, planted in Downtown Washington, will feature events and speakers, as well as bars and restaurants. It’s all meant to draw and support activists–or the activist-minded traveler. Read more>>
Shenzhen Condos Become Rental Units Following Policy Shift
Government measures to curb the growth of home prices have pushed real estate developers in Shenzhen to adjust their business model and rent out new properties rather than sell them outright.
Nearly 5,500 apartments — most of which were initially on sale — were available to rent on Rongjian Home, an online service launched by China Construction Bank earlier this month to help tenants in the southern tech hub find rentals. Read more>>
Suning Announces Partnership With Evergrande
Suning Holdings Group (“Suning” or “the Group”), a leading commercial conglomerate in China, has inked an RMB 20 billion (US$ 3 billion) investment agreement with Evergrande Real Estate Group (“Evergrande”) recently.
Evergrande, the China’s leading property developer, will provide commercial facilities to Suning, helping its brick-and-mortar stores cultivate personalized shopping experiences in different regions and communities. Read more>>
CSCEC Wins Contract for Wellington Airport Expansion
Wellington Airport has lined up the world’s biggest construction firm to partner on the runway extension and create tourism opportunities for the capital.
On Sunday airport deputy chief executive Matt Clarke signed a Memorandum of Understanding (MOU) in Beijing with China State Construction Engineering Corporation (CSCEC) and airline, China Express. Read more>>
Secondary Market Prices for Singapore Condos Rise 1.5% in October
SRX Property said on Tuesday that its flash estimates for October 2017 showed that resale prices for non-landed private homes in the city fringe or Rest of Central Region (RCR) have reached a new high since property cooling measures were implemented.
The index for RCR reached a new peak at 184.6, exceeding the last high of 182.1 in August 2013. Read more>>
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