" ~ a quarter of all overseas investments and construction and engineering projects undertaken by Chinese companies from 2005 to 2014 - worth $246 billion - have been stalled by snafus or failed" >> MORE
SCMP
Development Overseas Not Easy
Global Monopoly doesn't mean applying same template everywhere
PUBLISHED MAY 24, 2014
Sentosa Cove villas relaunched at a discount
Developer Ximeng Land giving 5% discount for remaining 12 luxury villas on Pearl Island
BRAND NEW
Each villa on Pearl Island comprises two storeys in addition to a roof terrace and basement. Absolute prices vary from about $14.3 million to $25.5 million per villa.
Each villa on Pearl Island comprises two storeys in addition to a roof terrace and basement. Absolute prices vary from about $14.3 million to $25.5 million per villa.
XIMENG Land, controlled by mainland China parties, is relaunching the balance 12 luxury villas on Pearl Island in Sentosa Cove at $2,185 psf on land area. The price is inclusive of a 5 per cent discount to the $2,300 psf list prices for the units. A year ago, the developer's asking price was $2,400 psf.
Absolute prices vary from about $14.3 million to $25.5 million per villa. Pearl Island is one of the five man-made islands in the upscale waterfront housing district.
"These are the last remaining brand-new luxury villas in the island developments in Cove, fully fitted and ready for occupation," said Steve Tay, associate director at Newsman Realty, which was last month appointed sole marketing agent for the villas.
Since 2010, Ximeng has sold seven of the project's 19 villas at prices ranging from $1,904 psf to $2,228 psf on land area. The buyers comprise Singaporeans, Indonesians and mainland Chinese. The seven units sold include two adjacent units bought by members of the Liu family that controls Ximeng Land. One was purchased for $17.1 million or $1,904 psf on land and the other, for $19.5 million or $1,906 psf. The highest absolute price achieved for the seven sold units was $27 million (translating to $2,162 psf), for a bungalow on 12,486 sq ft of land - the biggest of Pearl Island's 19 villas.
PUBLISHED MAY 08, 2014
Sinopec faces inconvenient truth in retail business stake sale
Sinopec has never quite figured out how to market to Chinese consumers, who aren't used to shopping at filling stations
[HONG KONG] The Easy Joy convenience store attached to a Sinopec petrol station in China's boomtown of Shenzhen sells everything from cookies and gum to mineral water and cigarettes, much like any gas station in the United States or Europe.
The difference is that Chinese consumers aren't buying. "Most people come here just to pay their fuel bills after filling up their tanks," said a blue-uniformed store assistant in her 20s.
Five motorists did just that during a 10-minute period last Friday morning. All left without buying anything from the store, which also sells rice, cooking oil, dry spicy bean curd and the fiery Chinese liquor baijiu.
Unlike in Western markets, where non-fuel businesses - convenience stores plus things like fast food or car washing - can account for more than half of a filling station's profits, more than 99 per cent of Sinopec's retail sales come from petrol.
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