• Latest
  • Trending
Chinese developers Evergrande and Vanke acquire land in Shenzhen for combined US$1.3b

Chinese developers Evergrande and Vanke acquire land in Shenzhen for combined US$1.3b

December 20, 2017
First shipment of Moderna vaccine for USFK to arrive Friday: sources

First shipment of Moderna vaccine for USFK to arrive Friday: sources

December 24, 2020
Why North Korea’s Mount Kumgang resort will be ‘envied by the world’

Why North Korea’s Mount Kumgang resort will be ‘envied by the world’

December 23, 2020
China & the West: the New Knowledge War

China & the West: the New Knowledge War

December 23, 2020
Zulkifli: COVID-19 vaccine is permissible

Zulkifli: COVID-19 vaccine is permissible

December 23, 2020
Bangkok schools closed for 12 days to contain outbreak

Bangkok schools closed for 12 days to contain outbreak

December 23, 2020
Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

October 30, 2020
Swedish Defense Bill Extends Gripen, Adds New AEW Aircraft

Swedish Defense Bill Extends Gripen, Adds New AEW Aircraft

October 19, 2020
Bulgaria protests enter 100th consecutive day as demonstrators denounce widespread corruption

Bulgaria protests enter 100th consecutive day as demonstrators denounce widespread corruption

October 18, 2020
UK’ Sixth-Gen Fighter Jet Will Infuse £25 Billion, 20,000 Jobs Into The British Economy

UK’ Sixth-Gen Fighter Jet Will Infuse £25 Billion, 20,000 Jobs Into The British Economy

October 18, 2020
Japan may skip meeting with S. Korea and China

Japan may skip meeting with S. Korea and China

October 14, 2020
China’s human rights record slammed after UNHRC reelection

China’s human rights record slammed after UNHRC reelection

October 14, 2020
loyalists and reformists clash over Thailand’s monarchy and the ‘playboy’ Rama X

loyalists and reformists clash over Thailand’s monarchy and the ‘playboy’ Rama X

October 14, 2020
Saturday, January 23, 2021
Sajja News
No Result
View All Result
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
No Result
View All Result
Sajja News
No Result
View All Result

Chinese developers Evergrande and Vanke acquire land in Shenzhen for combined US$1.3b

December 20, 2017
in Asia News, Business, China, Economy, Local News, Technology
0
Home Asia News
Post Views: 156

 

Two of China’s largest property developers have acquired land in the southern city of Shenzhen, also known as the country’s “Silicon Valley”, the Shenzhen Land and Real Estate Exchange Centre announced yesterday.

China Evergrande Group, which is based in Guangdong province and listed in Hong Kong, is the country’s second-largest developer by sales volume. It acquired 10,376 square metres for 5.5 billion yuan (US$833.84 million), while China Vanke, which is based in Shenzhen, acquired a 19,227.53 plot for 3.1 billion yuan, according to the exchange centre.

The two pieces of land are in the city’s southwestern Nanshan district. The area, with a population of about one million, is referred to as the “super headquarters” of Shenzhen Bay, a port of entry to China along the border with Hong Kong.

On the land bought by Evergrande, only 30 per cent of built-up area can be sold – the rest cannot change hands within a period of 15 years, according to government regulations.

Vanke also faces similar restrictions – only about 30 per cent of built up area on the plot it has acquired can be transferred. The developer cannot sell the rest for 15 years as well, according to the exchange centre.

This month, Vanke also set up a fund in collaboration with ICBC, China’s largest bank, to invest in distressed assets, a move that reflected a structural shift in asset trading away from new property development.

China Evergrande was down 2.4 per cent at HK$24.20 in afternoon trade. The company’s shares have gone up by about 400 per cent since the end of last year; it reported a 250 per cent increase in profit for the first half of this year. China Vanke’s H shares were down 1.2 per cent at HK$27.95, while its A shares were down 1.9 per cent at 28.59 yuan.

Source :
SCMP
Tags: acquireChineseCombineddevelopersEvergrandeLandShenzhenUS$1.3bVanke
ShareTweetShare
Next Post
How innovative China’s growing pains point to an urgent need for IP know-how

How innovative China’s growing pains point to an urgent need for IP know-how

Translate

Popular Post

First shipment of Moderna vaccine for USFK to arrive Friday: sources
Asia News

First shipment of Moderna vaccine for USFK to arrive Friday: sources

December 24, 2020
0

  U.S. Forces Korea (USKF) is expected to receive the first shipment of Moderna's coronavirus vaccine Friday, sources said. The...

Read more
Top palm oil producer sues green group over deforestation allegations

Sobeys $2B loss a sign of hotly competitive market, says analyst

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

Blurred Lines — China’s competition with US resembles low-level warfare: Gertz

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

German businesses face rising threat of industrial espionage

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

Top palm oil producer sues green group over deforestation allegations

October 5, 2017
  • About Us
  • Creative Commons
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Contact Us

Topics

Follow Us

About Us

Sajja News is part of Sajja News Media Group LLC, which delivers daily news around the globe.

© 2011 Sajja News

No Result
View All Result
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species

© 2011 Sajja News