Wang On Properties will be launching the most new projects since it was listed eight years ago, CEO Nick Tang Ho-hong says. Policy support and potential rate cuts later this year will lift home and rental prices.
The Shenzhen-based developer slumped 37 per cent to close at the lowest level since its 2009 listing as the market resumed trading after the Lunar New Year break, extending a slump in the past year to 76 per cent.
The Hong Kong-based builder sold down its holding in junk-rated notes of China South City for about US$3.8 million, as its investment in troubled Chinese developers backfired.