2014-09-16

China Real Estate of Affiars

Recent stories from Mingtiandi.

SOCAM SLASHES CHENGDU PRICES BY 30% IN SCRAMBLE FOR CASH
Socam Development, an affiliate of Shui On Land cut prices by 30 percent at a housing project in central Chengdu last week as the troubled real estate company struggles against slumping sales and falling prices.

YUEXIU PROPERTY PLANS $495M RIGHTS ISSUE IN CHINA CASH CRUNCH
Yuexiu Property announced last week that it plans a HK$3.84 billion ($495 million) rights issue, becoming the second major Chinese real estate developer in a week to turn to the equity markets as slowing home sales continue to squeeze the country’s property companies.

CENTURY 21 REAL ESTATE NOW SELLING HOUSES ON ALIBABA’S TAOBAO
Century 21 China, which is a franchise of the well-known US chain, last month joined a number of other large real estate agencies in pulling their listings from China’s biggest real estate website, Soufun.com. The boycott of the giant real estate site was sparked by disputes over what the agencies termed unfair pricing by Soufun.

In the announcement of its new tie-up with Taobao, however, Century 21 only wanted to talk about the future.

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