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According to SCMP story by Wong Ka-chun on today (Jul 28, 2008) the property developer is to test waters in two-week pre-marketing.

Longfor Properties is a Chongqing-based property developer.  Hong Kong’s South China Morning Post (SCMP) claims Longfor is proceeding with its Hong Kong initial public offering to raise at least US$1 billion, even with market sentiment showing no signs of significant improvement citing ’sources’.

This comes after a report last month Longfor and another developer were considering delaying the listing:

Thomson Financial News
China’s Longfor Properties, Fineland Group may delay Hong Kong IPOs - report
06.09.08, 10:06 PM ET

HONG KONG (XFN-ASIA) - Longfor Properties and Fineland Group, two mainland-based property developers, are considering delaying their Hong Kong initial public offerings (IPOs) following the weak debut of Central China Real Estate here last week, The Standard reported, without identifying its source.

Longfor had planned to raise about 7.8 bln hkd from the Hong Kong IPO, while Guangzhou-based Fineland Group planned to raise up to 200 mln usd.

Central China Real Estate ended nearly 3 pct below its IPO price on its trading debut last Friday.

China hotel sale, profitable but could best suit renovation, upgrade, change of use, possible redevelopment.

Qualified buyers contact us by leaving a comment below.

No brokers / agents please.

• Agent: BPN/JC/direct
• Status: pend d/d

Phuket. New, completed development. Last 3 units.

• Agent: BPN/Tong
• Location: Phuket
• Price: 18,000,000

60sqm, On Nut Road, Sukhumvit, Bangkok

This has Just come on to the market “Urgent sale - price negotiable, any reasonable offer accepted” — simply a must see opportunity !

Priced to move fast, this combination of 2 units to make a very comfortable 1 bedroom unit in On Nut’s latest 2 tower development has been furnished in a space-effective yet stylish manner.

Well known building Lumpiniville. 2 units tastefully joined together giving a sought-after 1 bedroom with en-suite along with guest bathroom and kitchen.

Fully furnished. Kitchen with 2 plate top and exhaust to outside, 3+star fridge, 2 bathroom with pressured hot water and exhaust to outside..

Strong Air Con., double curtain, cable TV, queen size double bed, 2 mirror cupboard table and chairs, desk with chair.

Complex with security, car parking (2 slot assigned to condo), swimming pool and gym, many ammenities, garden park, excellent administration.

NB this is 2 condos joined together - each could also be sold separately upon signing of S&P and payment of deposit.

NOTE : Further details & photos will be uploaded shortly.

• Acres: 60 sqm
• Agent: BPN/GI/direct
• Baths: 2
• Beds: 1
• Price: 3,380,000
• Status: urgent sale

Baan Nondzee Condominium, Bangkok, Thailand

Nondzee Condominium is located at 2120  Chan Road, Chongnonsee, Yannawa District, Bangkok.

Nondzee Condominium is a 22-storey residential condominium, built on 3.15 rai of land.  The total saleable area is 28,822 sqm, consisting of 351 units.  The common areas total 27,835 sqm.

As required by the Condominium Law, Baan Nondzee was registered as a Juristic Condominium with the Land Department on 4 December 1997 under the name of “Nondzee Condominium”.

Further information will be uploaded shortly.

• Agent: BPN/DH

Residential. 30sqm, Ayala Ave., Makati

Priced to move fast, this superbly finished unit in Ayala’s latest top development has been fully furnished in a very space-effective yet very stylish manner with no expense spared - even the original developer’s brand new wooden floor was ripped out and replaced with a much nicer, higher quality floor!

Fully furnished in an ‘east meets west’ style, including flat screen TV, washing machine, cooker, microwave, 1 queen size bed + mattress, wardrobe, cable TV installed, broadband internet.

Common facilities:

Swimming pool, games room with pool tables, darts, hairdresser, Starbucks, Kopi Roti, indian restaurant, laundry, mini-mart, 24 hour security guard, etc.

Located opposite RCB Tower, it’s just 5 minutes to bars & restaurants on Jupiter Street and ‘Glorietta’ & ‘Power Plant’ shopping malls. Conveniently located near the new call centres and Makati Medical centre.

Foreign buyers are welcome as this development is fully approved for foreign buyers, title is current owner is a name.

This property was listed at PHP 4,500,000 and has just been reduced to PHP 4,000,000

7.5% yield per annum (10/7) with existing tenant 25k, 2yrs (lease expires Feb ‘09/10)

Contact for viewing before this great unit is snapped up!

See this location on Google Earth

• Acres: 30sqm
• Agent: BPN/direct
• Baths: 1
• Price: 4,000,000
• Status: upd

Bangkok - The Thai government on Tuesday announced an economic stimulus package amounting to an estimated 1.4 billion dollars in reduced fuel taxes, slashed utility bills and free transport for the poor.

Prime Minister Samak Sundaravej announced six measures aimed at cutting costs for the poor including reduced excise taxes on diesel and bio-diesel fuels, a price freeze on liquified petroleum gas (LPG) for household use, slashed water and electricity utility bills for households using minimal amounts, free transport on 800 buses servicing Bangkok and free tickets on third-class seats in the government-owned train service nationwide.

Samak said the measures, which will go into effect on August 1 and last for six months, would cost the government 46 billion baht (1.37 billion dollars) in lost revenues. The tax cuts on diesel and bio-diesel will start on July 25.

As a result of skyrocketing world oil prices and food costs, Thailand’s inflation hit 8.9 per cent year-on-year in May and could reach double digits this year.

Thailand announces stimulus package aimed at helping the poor

Bernanke gloomy on housing, economy

CNN Money

Hearing eyes Fannie, Freddie and banking crisis - Jul. 15, 2008

I’m sure the fact the the US President and the US’ top two financial officers come on TV to pass us the message that everything is under control and there’s nothing to worry about means we can put our heads in the sand.

No, there is inflation, and the economy is clearly down.

So what’s safe? I’m no economist, but if banks are potentially unstable over $100k, there’s commodities, silver, gold, and maybe … property?

But only property bought in the right place, location, location, location - remember.

And at the right price. In many businesses, you often make your money when you buy. I think the same could be true of property at this juncture.

Sell at the peak, buy when the prices start going up again, or when there’s blood on the streets - let’s hope we can avoid the latter.

MADRID (Thomson Financial) - Leading Spanish property group Martinsa-Fadesa said on Tuesday that it was declaring itself insolvent, having failed to raise a loan as part of a refinancing package.

The company said that a board meeting late on Monday had decided to make a request to be declared in breach of payments.

This would prevent its crisis from becoming ‘irreversible and having grave repercussions on creditors and the interests of all shareholders.’

Martinsa-Fadesa, which is quoted on the Madrid stock market, is a leading property group in Spain.

The group said that despite many attempts, it had been unable to obtain a loan of 150 million euros needed as the basis for refinancing.

On Friday, the group had requested an extra delay to raise the loan as part of a plan to refinance debt of 4.0 billion euros.

Martinsa-Fadesa has assets which were estimated to be worth 10.8 billion euros, and it employs 880 people.

Source : Thomson Financial

Spanish property group Martinsa-Fadesa says it is insolvent - Forbes.com