25 August 2019

Kaisa Group taps into Qianhai property market, paper says

Kaisa Group Holdings Ltd. (01638.HK) is believed to be acquiring Shenzhen Guanyang Real Estate Co. Ltd., an entity that is involved in a residential property project near the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the National Business Daily reported Thursday. The Qianhai project is said to offer 205,700 square meters (sqm) of floor space and priced at an average of 35,000 yuan (US$5,726) per sqm. The acquisition is seen by analysts as a stepping stone for Kaisa into the Qianhai property market, the report said. In the two months to February, China’s 15 biggest developers have spent a total of 78.48 billion yuan on land acquisitions, with 68.768 billion yuan spent on sites in first- and second-tier cities, the report said.

– Contact HKEJ at [email protected]



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