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Chinese Property News

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Training its sights

Sun Hung Kai in massive bid for West Kowloon site – but was it a bargain?
Dec 6, 2019 (WiC 477)

Belgian actor Jean-Claude Van Damme has long been a fan of Hong Kong. In 2004 the martial arts star spent HK$80 million ($10 million) on two top-floor units at a luxury development in West Kowloon. They’re now up for sale, at a combined asking ...

Tower of strength?

SOHO China puts trophy assets up for auction
Nov 8, 2019 (WiC 473)

Pan Shiyi, chairman of SOHO China, made a recent appearance in the TV series Back to the Field, a show that puts a group of celebrities on a farm. In the episode he impressed viewers with his carpentry skills, knocking together a coop for the ...

Shenzhen will build 1.7 million more homes, most of them public housing
Nov 1, 2019 (WiC 472)

Shenzhen’s past as a fishing village now seems like something from a different galaxy. But another of its titles – as China’s biggest boomtown – still rings true, as does its reputation as a city of migrants. These newcomers have made it ...

Not checking out

A European R&D project of Han’s Laser turns out to be a hotel
Sep 6, 2019 (WiC 465)

Switzerland’s Engelberg has been a resort town for nearly 170 years. As its English name “Angel Mountain” suggests, the spot is pristine and picturesque, exuding an alpine charm. It might not, however, seem the best location for a ...

A top official predicts the bankruptcy of 64,000 Chinese property firms
Aug 2, 2019 (WiC 462)

Simon Yam is arguably Hong Kong’s most prolific actor. With credits in 234 movies, the 64 year-old has starred in a wide range of roles spanning mafia boss, police inspector and serial killer. Some of these parts have seen his character ...

Parking the cash

Hong Kong investors turn to GBA car parks
Aug 2, 2019 (WiC 462)

Many Hongkongers who ‘dream’ of owning their own home believe that it will remain a dream following a tripling of house prices over the past decade. Only this month, a buyer paid HK$5.26 million ($674,000) for a tiny 598 square foot flat in ...

Tycoon disgraced

Property baron detained in child sex abuse case
Jul 12, 2019 (WiC 459)

Last week, one of the most widely circulated weibo posts began: “Using Shanghai’s garbage-sorting system [for more on this topic, see WiC458], which category does Wang Zhenhua belong to?” The punchline: “You are insulting the ...

So what’s his goal?

Wang Jianlin makes a comeback in football – and in property development
May 10, 2019 (WiC 451)

Before Jia Yueting boarded a flight to the US in July 2017 the founder of troubled tech firm LeEco wrote on his weibo that he was off for a short business trip. He told his social media followers he would be back “next week”. That turned ...

Smart buys for smart people

Half price homes in Hohhot for those with the requisite ‘talent’
May 3, 2019 (WiC 450)

To attract the best employees, tech companies have showered their staff with perks like concierge services, massages and gourmet canteens. Companies like Facebook and Google are now tackling a bigger complaint from their workforces – not being ...

A dash for cash

Graft scandal embroils Tahoe
May 3, 2019 (WiC 450)

Property developers in China have at least one strategy in common: they all want to forge good relationships with the local governments where they operate. Tahoe Group was typical in what is termed locally as guanxi management (i.e. ...

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