Hang Lung Group’s new CEO, Weber Lo
Leading today’s Hong Kong real estate news, Weber Lo will step up as developer Hang Lung’s new CEO starting in May, taking over from Philip Chen. Also in the headlines, design firm Benoy sees Instagram-worthy opportunities to develop the site above West Kowloon’s Express Rail Link and the Mount Nicholson project at Victoria Peak has set another record with a HK$1.4 billion sale. All these stories and more await you, if you just keep reading.
Hang Lung Philip Chen to Retire as CEO, Succeeded by Weber Lo
Hang Lung Group and Hang Lung Properties said today Philip Chen Nan-lok will retire as Chief Executive Officer on July 16. Weber Lo Wai-pak will be appointed Chief Executive Officer Designate of HLG and HLP with effect from May 16, and will take over when Chen retires, the group said in an exchange filing.
Lo, 47, is currently the Citi Country Officer and Chief Executive Officer of Citi Hong Kong and Macau, the highest ranking officer in the Hong Kong franchise for the global bank. Read more>>
Wheelock’s Mount Nicholson House Sells for HK$1.39B
A house at the ultra-exclusive Mount Nicholson area on The Peak in Hong Kong has sold for HK$1.39 billion ($177.3 million), a price that makes it the second most expensive in Asia on a square foot basis.
The four-bedroom, 9,217 sq ft house with a 3,969 square foot garden and a swimming pool at No 2 Mount Nicholson fetched HK$151,785 per square foot in a tender offer, according to Wheelock Properties, which sold the unit. Read more>>
Benoy Spots Opportunities in Express Rail Link Site
The huge site above the Hong Kong terminus of the Express Rail Link in West Kowloon has the potential to be the next hot spot of the city’s “Instagram moment”, if it can be integrated into the existing cultural district properly, according to architecture firm Benoy.
“West Kowloon already has a great plan with museums, theatres, open spaces and activities being staged there. It will be a fantastic and new urban environment and we see great opportunities for the area,” said Trevor Vivian, global director at Benoy, an international architecture and design firm. Read more>>
The Peninsula Hong Kong Saw Occupancy Rise in 2017
The Hongkong and Shanghai Hotels flagship, The Peninsula Hong Kong’s occupancy was up by 3 percentage points, while the average room rate increased by 1 percent.
Chief executive Clement Kwok, said in a statement, that during the year, hotel occupancy increased and the hotel maintained its position in terms of market share with an improved average room rate. Read more>>
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