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Thursday, August 2, 2012

CapitaLand sees China home sales improving

SINGAPORE: CapitaLand Ltd sees residential sales in China improving for the rest of the year, helped by expectations of a turnaround in the world’s second-largest economy.

CapitaLand, about 40 per cent owned by Singapore state investor Temasek, said the number of homes it sold in China in the second quarter more than tripled to 812 units from the previous three months, boosted by a rebound in buyers’ sentiment.

“We’re seeing a lot of pent up demand and seeing a lot of people committed to buying properties now, having stayed away for the last one and a half years,” Jason Leow, CEO of CapitaLand’s China unit, told a briefing of media and analysts.

By Reuters

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