Monthly Archives: August 2009

CPP Investment Board Commits up to US$250 Million to Brazilian Commercial Properties Joint Venture

Posted on 11 Aug 2009 | Comments Off

The CPP Investment Board (CPPIB) announced today that it has entered into a joint venture with Cyrela Commercial Properties S.A. Empreendimentos e Participacoes (CCP) (BOVESPA:CCPR3). The venture, which will also include GIC Real Estate, the real estate investment arm of the Government of Singapore Investment Corporation, will focus on the development, acquisition and management of institutional-quality commercial properties in Brazil. CPPIB’s investment will consist initially of a US$150 million commitment to the venture with the option to increase up to US$250 million at CPPIB’s discretion. Continue reading →

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Posted in Property Market / Real Estate

Tagged CPPIB, GIC, GIC REal Estate, Office / Retail / Industrial, Property Market

China property sales leap 60% in first 7 months

Posted on 11 Aug 2009 | Comments Off

Concern over asset bubbles brought on by record lending

China’s property sales surged 60 per cent in the first seven months amid concern that record lending will stoke asset bubbles in the world’s fastest-growing major economy.

The gain in the value of sales, announced by the statistics bureau on its website yesterday, compares with a 53 per cent increase in the first half from a year earlier. Real estate investment accelerated to 11.6 per cent growth from 9.9 per cent, the agency said.

Home prices in 70 major cities gained one per cent in July from a year earlier, the biggest increase in nine months, the National Development and Reform Commission (NDRC) said yesterday in a separate statement.

Premier Wen Jiabao reiterated on Sunday that monetary policy will remain unchanged, after climbing asset prices triggered speculation Continue reading →