DBS: China Property Weekly Digest – COLI, COGO, Longfor, Yuexiu Property, CR Land
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China Property Weekly Digest: Offering liquidity support to distressed developers
The Zhejiang Real Estate Association has jointly set up a Rmb10bn property-focused M&A fund, with Zheshang AMC to ensure project deliveries and provide liquidity support to distressed developers
The MTD average weekly GFA sold in 27 cities we track fell 51.1% y-o-y, after posting a 11.9% w-o-w drop last week; the average sell-through rate for new project launches in 11 key Tier 1 and 2 cities rebounded to a three-month high of 54%
Average short-selling interest edged down 6ppt to 11% last week; and average southbound trading rose 3bps to 7.80%
Sector top picks: COLI (688 HK), COGO (81 HK), Longfor (960 HK), Yuexiu Property (123 HK), and CR Land (1109 HK)
