March Property Market Review

[March - 20 - 2019] State-owned China Overseas Land reported net profit during 2018 rose 10.1% to HKD44.9 billion, core profit rose 8.3% from a year ago, boosted by higher margins, core profit of the country’s seventh-biggest property developer by sales, which excludes revaluation gains and non-recurring items, came in at HKD37.1 billion

[March - 26 - 2019] China's second biggest home builder Evergrande, reported core profit jump 93.3% to 78.32 billion yuan (USD11.88 billion) for the year, up 93.3%. Net gearing ratio, a measure of equity to debt, hit 151.9% at the end of 2018, up 24 percentage points from six months earlier

[March - 18 - 2019] China’s biggest home buider Country Garden Profit reported core profit for 2018 rose 38% to a record. Country Garden said in a statement on Monday its core profit, which is net profit excluding non-recurring income and revaluation gains, grew to 34.13 billion yuan last year. (Debt ratio)

[March - 14 - 2019] Swire Properties, real estate arm of Swire group which builds office towers, shopping centres and luxury homes in Hong Kong reported underlying profit at the property unit, excluding revaluation gains on investment properties, rose 30% last year to HKD10.15 billion

[March - 19 - 2019] First Sponsor Group has withdrawn its application for a rights issue involving warrants exercisable into convertible securities, after receiving regulatory feedback on the warrants' suitability for distribution to retail investors, it said in a Singapore Exchange filing

[February - 29 - 2019] CapitaLand China debt fund. The fund, with a target capital raise of USD750 million (about SGD1 billion), will invest in offshore US dollar-denominated subordinated instruments for real estate in China’s first- and second-tier cities. It will focus on loans and securities of high-quality real estate covering commercial, retail, residential, logistics and industrial properties

[March- 5 -2019] Singapore to increase hotel building cost