Developer Pan Hong cautiously optimistic that housing demand in China will return progressively

SINGAPORE Exchange-listed property developer Pan Hong is cautiously optimistic that core housing demand in China will improve as Chinese cities start to introduce measures to support the housing market.

In a filing to the Singapore bourse on Saturday (Jul 23) where it answered questions raised by shareholders regarding its annual report, Pan Hong said that the district government where its Run Ze Yuan project is located has initiated a “property coupon scheme”, under which local firms and property developers subsidise the local labour group in purchasing properties in the district.

Pan Hong added that it “will participate in (the) scheme, and foresees that (the) scheme would serve as an incentive for the recovery of investment appetite of potential property buyers.”