Here's proof that Shun Tak is expanding its Chinese market

Two recently acquired projects back up growth.

According to Maybank Kim Eng, it applauds Shun Tak’s China expansion efforts, having acquired two projects – one in Tongzhou (two phases)and one in Dongzhimen in Beijing at attractive costs.

Here's more:

We expect initial yield on costs to exceed 7%. Partners of the Tongzhou project include Perennial and some private investors. Shun Tak indicates that it is still seeking more China opportunities including those in first tiered cities as well as Pearl River Delta.

In fact, the figures below show the transacted ASPs of the luxury project One Central and the mass project Nova City have been rising over the past several quarters, according to Centaline Macau data.