Read more> Chinese JV to Buy Australia’s Biggest Landowner for $289 MilĪustralia’s largest landholder, S. Country Garden last year was a close runner-up in an auction for a life insurance unit under Ageas SA. Now the tables are turning as developers prowl for insurers.Ĭountry Garden Holdings Co and Future Land Development are among Chinese developers bidding for Dah Sing Financial Holdings Ltd’s life insurance operations, people familiar with the matter said this month. Read more> Mainland Developers Compete to Buy Up Insurance CompaniesĬhinese insurance companies have set new records with their appetite for real estate acquisitions. The projected sales growth is smaller than the 20 percent increase they delivered a year earlier. Twenty-two major Chinese developers set a combined contracted sales goal at 1.3 trillion yuan ($201 billion) this year, representing an 8.8 percent gain from the sales value they reached in 2015, according to data compiled by Bloomberg. Read more> Major Chinese Developers Keep Cautious Despite First-Tier FrothĬhinese developers set conservative goals for sales in 2016, indicating that they expect property growth to slow after a period of credit-fueled expansion. (A penthouse on the 89th floor of the Trump Tower sold for $17 million in 2014, after its price was halved from the original listing price of $32 million). If it sells, the penthouse would just barely eke out an all-time record for Chicago’s most expensive residential real estate. When the 95-story Vista Tower is completed in 2020, it will be the third-tallest building in Chicago, and at its very top will be a 7,000-square-foot duplex penthouse, currently offered for $17.1 million. Dalian Wanda to Offer 95 th Floor Chicago Penthouse for $17 Mil And another type of land purchase is going on down under, as a Chinese joint venture gets ready to acquire Australia’s biggest ranch owner. Wang Jianlin hopes to set a new Chicago price record with the penthouse of the Wanda VistaĬhina’s richest man is hoping to bring New York luxury (and Manhattan real estate prices) to the Midwest, while major mainland developers are keeping calm about the 2016 outlook, despite a first quarter market recovery.
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