Hong Kong Home Sales Jump 44% in March

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Craig Shute

Former CBRE HK boss Craig Shute is joining Colliers in Australia

News of rising interest rates bounced off the bulletproof confidence of Hong Kong home buyers last month like facts being flung aside at a Washington press conference, as home sales in the Asian financial hub leapt 44 percent compared to February. Also in the headlines, CBRE’s former Hong Kong boss resurfaces at Colliers in Australia, and those Blackstone guys have put another A$3.5 billion in malls on the market.

HK Home Sales Jump 44% in March

Home sales in Hong Kong rose to a four-month high in March, driven by a sharp increase in secondary market transactions, according to property agents.

Industry experts expect home sales will continue to improve in April owing to rising numbers of big-ticket deals involving the purchase of multiple flats by single buyers at newly launched developments. Read more>>

Blackstone Putting A$3.5 Bil in Aussie Shopping Malls on the Block

Blackstone Australia has placed its entire Australian retail platform of 10 shopping centres on the market – with a price tag of AUD3.5bn (€2.5bn).

It is understood that Blackstone made presentations to prospective investors late last week, and industry sources told IPE Real Estate that a data room will open next week for due diligence. Read more>>

FBI Nails Father-Daughter Team of EB-5 Fraudsters

A father and daughter duo allegedly helped obtain visas for Chinese nationals, including people on that country’s “100 Most Wanted” fugitive list, by defrauding a U.S. program that awards visas to wealthy foreigners who invest in American projects, according to federal court documents unsealed Wednesday.

The allegations of fraud are the latest to hit the EB-5 visa program, which gives green cards to foreigners who invest $500,000 in businesses that are measured to have created 10 jobs per investor. Read more>>

Former CBRE Hong Kong Chief Joins Colliers in Australia

A major commercial property agency has brought in a heavyweight player with a global reputation to help grow its national business from Adelaide.

Craig Shute, a former Hong Kong based senior managing director of CBRE, has been appointed as ‘National Director’ for rival Colliers International where he will assist its national clients by leveraging his knowledge of Asia and offshore capital markets. Read more>>

Glorious Property Pays Bond Interest Late. Again.

Reference is made to the announcement of the Company dated 3 April 2017 in relation to the delay in payment of coupon interest for the senior notes due 2018 issued by the Company (the “Notes”).

The board of directors of the Company wishes to update the shareholders of the Company that the Company has remitted the funds to settle all coupon interest for the Notes amounting USD26,500,000 today. The Company has also notified The Bank of New York Mellon, the trustee of the Notes, of our payment of interest. Read more>>

Shanghai’s Home Market Stayed Locked Down in March

Sentiment among both home buyers and real estate developers remained sluggish in March despite month-over-month recoveries, latest data showed.

The area of new residential properties sold, excluding government-subsidized affordable housing, jumped 104.5 percent from February to 742,400 square meters last month, Shanghai Homelink Real Estate Agency Co said in a report. Read more>>

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Source: einnews.com