One of the unfinished 'ghost buildings' in Sihanoukville, Cambodia.  (Photo by Hiroki Endo)
Property

Chinese exodus leaves Cambodia boomtown with 500 'ghost buildings'

Sihanoukville saddled with unfinished projects due to casino clampdown and COVID

14 April 2024
Wanda Plaza is the largest mall chain in China by far, with a total floor space five times as large as its next-biggest rival. (Photo by Kohei Fujimura)
China debt crunch

China developer Wanda loses crown jewel mall unit in survival fight

Wang Jianlin's influence diminishes with $8bn-plus deal involving outside investors

13 April 2024
The flag of property developer Shimao Group flutters next to a Chinese flag in Shanghai. 
China debt crunch

China Construction Bank seeks wind-up of property developer Shimao

Hong Kong petition raises questions over company's 'white list' projects

8 April 2024
At least three Singapore-listed REITs have increased their stakes in data centers over the past year, with analysts predicting similar moves by other real estate investors in Asia. (Nikkei montage/Source photos by Reuters and Yo Inoue)
Market Spotlight

Singapore REITs snap up Japan data centers amid AI boom

Acquisitions show investors' hunger in Asia for tech-related property assets

8 April 2024
More people are turning to rentals in the U.S. in the face of rising interest rates for mortgages. (Photo by Kazuki Yamaguchi)
Construction

Sumitomo Forestry to add 10,000 U.S. home rentals a year through 2027

Japanese builder has $350m war chest for additional American acquisitions

3 April 2024
A Country Garden residential development in Shanghai is under construction. The company's contracted sales in March dropped by 83% on the year.
China debt crunch

Country Garden's monthly sales tumble over 80% again in March

Chinese developer's woes deepen as stock trading suspended

2 April 2024
As Chinese family structures and housing needs evolve, three- and four-bedroom units will become the main preference in the housing market.
Caixin

Chinese cities revise housing policy as families turn to larger homes

Easing of one-child policy led to greater demand for more spacious living areas

29 March 2024
Country Garden was unable to disclose 2023 annual results on time.
China debt crunch

China's Country Garden misses results deadline, expects trade suspension

'State advances, private retreats' phenomenon further deepens in the country

29 March 2024
Commercial land values in Tokyo have risen 7% on the year as companies bring workers back to the office. (Photo by Konosuke Urata)
Property

Japan land prices rise most in 33 years, but foreign investors shy away

Tourism rebound, chip investment and returns to office buoy prices around country

27 March 2024
Kaisa Group Holdings, a midsize developer in default, says its net loss for 2023 is expected to have widened from the year before, an example of flowing red ink in China's distressed property sector.
China debt crunch

China's distressed property developer losses start to pile up

Evergrande withdraws New York bankruptcy application

25 March 2024
Andrew's granny flat, stands next to the family home in suburban Sydney. (Photo by Rurika Imahashi)
Property

In Australia, 'granny flats' gain traction as rents skyrocket

Housing shortage gives homeowners a way to monetize extra space

24 March 2024
Telecommunications operations produced a smaller share of CK Hutchison's earnings in 2023 due to the effects of inflation.
Companies

Hong Kong's CK Hutchison takes 36% hit to profit amid inflation

Victor Li, son of founder Li Ka-shing, wary of continued economic uncertainty

22 March 2024
The construction site of an office building owned by the Aoyuan group in Hong Kong in November 2021.
China debt crunch

Chinese developer Aoyuan completes offshore debt restructuring

Courts approve plan replacing dollar bonds with ones maturing in 2031

21 March 2024
Evergrande housing under construction in Wuhan, China. The developer has been accused of counting incomplete projects as revenue. (Photo by Noriyuki Doi)
China debt crunch

China Evergrande fine suggests no more Mr. Nice Guy from Beijing

Watchdog slaps $580m penalty on core unit for inflating revenue

20 March 2024
An unfinished residential building in Tongchuan, in China's Shaanxi province: House prices declined again in February, hinting that steps taken to stem the fall have not worked so far.
Economy

China home prices sink further despite mortgage rate cut

February data shows another 0.3% monthly drop in top-tier cities

15 March 2024
Sales of offices, stores and other commercial properties in China totaled $38.6 billion in 2023, down from $60.3 billion as recently as 2021. (Photo by Mizuho Miyazaki).
China debt crunch

China commercial property woes trigger surge in distressed sales

More than a fifth of commercial deals involve real estate put into receivership

14 March 2024
Residents of urban villages like this one in Guangzhou are being given vouchers to use in buying a new home. (Photo by Takashi Kawakami)
Property

China tries to steer 'urban village' residents to areas with housing glut

Guangzhou district becomes test case for redevelopment-linked vouchers

14 March 2024
Country Garden was declared in default on dollar-denominated debt in October, but so far has avoided defaulting on yuan bonds.
China debt crunch

China's Country Garden misses yuan bond payment in latest setback

Developer pledges to 'make every effort' to raise funds during 30-day grace period

13 March 2024
Chinese authorities have called on local governments to better support developers' financing needs through coordination with banks.
Caixin

China's Foshan city allows developers to sell new homes before repaying loans

Policy addresses stalled sales and financial strain that usual bank procedure creates

12 March 2024
Based in Singapore, ARA Asset Management has strength in commercial property investments.
12 March 2024
A person walks past Central Plaza, an unfinished development by China Evergrande Group, in Shijiazhuang on Feb. 1.
China People's Congress

China housing chief pledges 'reasonable' aid for distressed developers

Ni Hong says some should be 'declared bankrupt or undergo restructuring'

9 March 2024
The real estate sector "contributes nearly a third of gross domestic product," says Yin Yanlin, a senior economic advisor for the Chinese government. 
Property

China can't simply let crisis-hit developers fail: economic adviser

Yin Yanlin cites lack of alternatives to real estate's contribution to GDP

8 March 2024
Construction of this apartment complex in northern China's Shanxi province stalled two years ago after the developer's funds dried up. (Photo by Iori Kawate) 
China debt crunch

China work report pledges to tackle local debt, without specifics

Annual document avoids contentious proposal to raise retirement age

7 March 2024
An unfinished China Evergrande Group project in Hainan province: Legally, it will be difficult for foreign creditors to recoup their losses from the group's mainland assets.
Opinion

Cleanup of China Evergrande collapse calls for coordination and clarity

HNA and GITIC bankruptcies underscore value of transparent resolution process

6 March 2024
A home offered by MDC Holdings. Japan's Sekisui House is buying the U.S. homebuilder in its largest acquisition ever. (MDC Holdings)
Construction

U.S. housing market becomes battleground for rival Japan homebuilders

Daiwa House eyes factory for prefab components while Sekisui House buys MDC

6 March 2024