MONEY MASTER

Sunway Bhd (KL:SUNWAY) and Singapore-listed Sing Holdings Ltd have emerged as the top bidders for a second residential site in Chuan Grove, Singapore, with an offer of  S$623.91 million (RM2.05 billion) . Key Developments Bid details:  The offer equates to  S$1,331 per sq ft per plot ratio , 2.9% above the second-highest bid at the Sept 4 tender close. Site capacity:  The 156,000 sq ft parcel can accommodate about  505 homes . JV structure:  A 35:65 joint venture (Sunway: Sing Holdings) will be appointed as the developer, pending regulatory approvals. URA approval:  Singapore’s Urban Redevelopment Authority retains the right to reject the highest or any bid. Expansion in Chuan Grove This marks the  second land win  for the JV in Chuan Grove after securing an adjacent parcel in July. The two sites will be amalgamated into a  1,055-unit integrated development  across five blocks. The project adds to Sunway’s Singapore pipeline of...

China's recent efforts to revive the struggling housing market have yielded promising results, with reports of brisk sales and increased buyer interest during the Golden Week holiday . In cities offering promotions, visits by prospective homebuyers jumped by at least 50%, according to CCTV News , with Beijing seeing expressions of interest in new homes double in the first three days of October. In Shenzhen , sales of new homes soared more than 10 times in the first six days of the month, and second-hand home transactions more than tripled. These developments follow a series of government measures aimed at stabilizing the real estate sector , including lowering mortgage rates and reducing downpayment requirements for second-home purchases. Local governments in cities like Beijing and Shanghai have also widened eligibility for property purchases to stimulate demand. The policy shifts have driven a rally in Chinese developer shares , particularly those listed in Hong Kong . A Bl...

The shares of Chinese property developers have witnessed an unprecedented rally, following recent regulatory changes aimed at stabilizing the struggling real estate market. This surge comes as Beijing announced new measures to make home purchases easier, particularly in its tier-one cities, in a bid to counter the ongoing property market decline. Record Gains in Real Estate Stocks A Bloomberg Intelligence gauge of Chinese real estate stocks jumped as much as 31% , marking a record increase, in the wake of the announcement. The index has seen a remarkable 92% rise over the past five trading days. Notably, stocks of several defaulted developers, including Shimao Group Holdings Ltd and Sunac China Holdings Ltd , soared by over 200% each during this period, with Huarong International Financial Holdings Ltd experiencing a staggering 463% surge on Wednesday alone. Market Reactions and Sentiment The euphoria in the stock market extended to Hong Kong, where the Hang Seng China Enterprise...