Hong Kong developer Hang Lung Group has shouldered aside Alibaba Group and four other property developers to win a commercial plot in the eastern China city of Hangzhou for RMB10.7 billion ($1.7 billion) — more than double the base price… Read More>>
Mainland Bank Leases 8 Floors in Wan Chai and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong roundup, Shanghai Pudong Development Bank — currently headquartered in Central’s Bank of America Tower — has preleased eight floors in Chinachem’s One Hennessy office project in Wan Chai for a record-breaking rent. Together with mainland co-working… Read More>>
HNA Reportedly Seeking HK$5B to Refinance Kai Tak Project
HNA is reportedly seeking to borrow as much as HK$5 billion ($637 million) to refinance and begin construction on its sole remaining condo project in Hong Kong’s Kai Tak area, just two months after the mainland conglomerate sold the third… Read More>>
$3B Investment Wave Expected to Drive Proptech Innovation in Asia
At a time when more than 300 million Chinese have used online food delivery and some 10 percent of the mainland population have signed up for ride-hailing apps, one may wonder when the tech revolution will reach what may be… Read More>>
Henderson Land Wins Approval for 35-Storey Tower on Central’s Murray Road
Henderson Land has received the green light from Hong Kong’s Buildings Department to build a 35-storey commercial tower on a car park site in Central that the developer pounced on for a record-smashing $3 billion one year ago.
The Murray… Read More>>
Jiangsu Developer Jiayuan Enters Hong Kong Market via $334M JV with Tang Shing-bor
Mainland property developer Jiayuan International is venturing into Hong Kong’s residential market by buying a majority stake in three projects from Tang Shing-bor for a combined HK$2.62 billion ($334 million).
According to a statement to the Hong Kong stock exchange,… Read More>>
Chun Wo Project Found Using Substandard Steel and More Hong Kong Real Estate Headlines
Steel problems carried a housing redevelopment project in Hong Kong’s Sau Kei Wan area into the news this week as a subcontractor was found to have used substandard rebar on the 4,000 unit government subsidised project. Also in the headlines,… Read More>>
Canada Blocks CCCC’s Acquisition of Aecon Over National Security Concerns
China’s overseas acquisition drive has suffered another blow amid scrutiny by foreign regulators, with the Canadian government rejecting the proposed $1.2 billion acquisition of Aecon Group, one of Canada’s largest builders, by state-owned CCCC International Holding Limited (CCCI).
Canada’s national… Read More>>
Henderson Land Buys Four HK Department Stores from FamilyMart Uny for HK$300M
A retail unit of blue-chip developer Henderson Land is acquiring Japanese retailer FamilyMart Uny Holdings Co’s operations in Hong Kong for HK$300 million ($38 million), expanding Henderson’s department store business to Hong Kong Island and Kowloon.
The Henderson subsidiary, Urban… Read More>>
Property Deals Hit 21-Year High From Jan-May and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, the total spend on property in the city reached HK$300 billion in the first five months of the year, a post-1997 record for the January to May period. Also in the headlines, a… Read More>>
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