FOREIGN investors have significantly increased their presence in China’s commercial real estate sector, investing 78 billion yuan ($11.5 billion) last year, a record since 2005 and up 61.5 per cent year-on-year, according to recent data.
The Gold Tower 42 building had its last beam put in place on Monday, officially signaling the end of a more than 10-year construction delay that started during the 2008 global financial crisis due to a lack of funds.
Property insiders do not expect land prices along the area of the government’s Third Belt Road project to see a large increase in the short-term despite it breaking ground. They said prices in the area already boomed last year.
The supply of office space in Phnom Penh saw a marginal 1.1 per cent quarter-on-quarter growth in the fourth quarter.
The $150 million multi-purpose tower, which is a joint venture between a local company and a well-known US hotel chain, began construction on Monday and is set to open in 2022.
After suffering during the 2008-2009 global financial crisis, the Kingdom’s real estate sector has since shown strong growth.
HOUSE prices in 100 major Chinese cities rose 5.09 per cent last year, down 2.06 per cent from 2017, according to data from China Index Academy, a Beijing-based realty information service provider.
VIETNAM’S deputy Prime Minister Trinh Dinh Dung asked the Ministry of Construction to pay attention to the development of social housing projects and homes for low-income earners while enhancing urban management and creating favourable conditions for construction businesses.
The government has added smart city development to its agenda for this year as landlocked Laos seeks ways to strengthen its economic competitiveness in the coming years.
Real estate prices in the Kingdom’s major cities only saw small increases last year, though land prices in coastal provinces saw a sharp increase, according to a second-half 2018 Key Real Estate Co Ltd report obtained by The Post on