Developers eye tourism real estate projects
Updated: 2012-08-08 16:20
By Li Jiabao (chinadaily.com.cn)
|
|||||||||
About one-third of China's top 100 real estate developers have stepped into the tourism real estate sector, amid the government's stringent curbs on property investment and funding difficulties for small developers.
The first quarter of the year saw about 70 projects with investments above 100 million yuan in tourism real estate projects, with a total investment of 260 billion yuan ($40.83 billion). And the investments are expected to surpass 1 trillion yuan this year, according to 5u588.com, a domestic tourism website.
Data from ChinaVenture Group, a leading research and consulting institute, showed that some of China's major real estate developers, including Vanke Co Ltd, Poly Real Estate Group Co and Wanda Group, have decided to invest in the business.
China's housing market remains in the doldrums. Investment in real estate grew 16.6 percent year-on-year in the first half of the year, while the growth was 33.6 percent in the first seven months of 2011, according to the National Bureau of Statistics.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |