…used by the fifth wave of Covid-19. The project, developed by Sino Land, K Wah International and China Overseas Land and Investment, found buyers for 322 of the 327 flats on offer, a company spokeswoman said. It was the second round of sales after the project at Kam Sheung Road Station sold all 388 units on offer last Friday. Read more>> Hong Kong’s Base Rate Rises By Most In 22 Years Hong Kong’s cost of money soared by the most in 22 years as the…
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Tang Shing-Bor Family Sells Hong Kong Retail, Industrial Assets for Combined $24M
…ortedly sold on 12 May to a holding company under a director named Lee Mun Wah. The late Shop King had purchased both units in the Centro-Sound Industrial Building in 2017, said Leung. At the time of that purchase, the Tang family patriarch also owned some upper-floor space in the building, as well as a nearby industrial building, and could have planned to convert the properties into retail space, he said. However, the city’s ongoing retail drough…
Sunac Seeks Second Extension for Onshore Bond and More Asia Real Estate Headlines
…don Bid for Melbourne’s Southern Cross Towers Singaporean sovereign wealth fund GIC is understood to have abandoned plans to buy the Southern Cross Towers complex in Melbourne after the private equity owners refused to drop the price by A$200 million ($138 million). GIC had been moving to acquire the two-tower skyscraper complex on Exhibition St in Melbourne’s central business district after reaching a deal with owners Brookfield and Blackstone. R…
China Urges Banks to Support Property Sector and More Asia Real Estate Headlines
…s and Wolai have been banned after reports that the number of homebuyers refusing to pay mortgages surged in a span of days. GitHub, a popular file-sharing site for coders, remains as a source for people to post documents. Read more>> Genting Singapore Says Unsolicited Offer Hasn’t Been Pursued Genting Singapore, one of the city-state’s two casino operators, said it was informed that controlling shareholder Genting Bhd had received an unsolicited…
Swire Properties Takes on More Hong Kong Projects Despite Challenging 2022 1H
…ortfolio in Asia. Swire Properties chairman Guy Bradley “As we look to the future, we will continue to use our HK$100 billion investment fund to reinforce our core assets and pursue new investment opportunities. It remains our goal to deliver mid-single-digit annual dividend growth,” Bradley said in a statement. Swire Properties introduced a HK$100 billion ($12.7 billion) investment plan earlier this year to beef up its pipeline of projects in Hon…
Interest Rate Surge Hits Blackstone Earnings and More Asia Real Estate Headlines
…rship agreements with Henderson Land Development, New World Development, K Wah International Holdings and Shun Tak Holdings. Read more>> Balfour Beatty JV With Gammon Wins $150M Hong Kong Contract A joint venture of UK-based Balfour Beatty and Hong Kong’s Gammon has been awarded a HK$1.3 billion ($150 million) contract on behalf of Top Oasis Ltd — a consortium formed by Sino Land Co Ltd and CSI Properties Ltd — for the construction of a residentia…
China Real Estate Acquisitions Slid 25% in Q3 as Western Investors Pull Back
…h reported a 60 percent slide. As reported earlier by Mingtiandi, Canadian fund manager Brookfield in September bought a rental apartment building from R&F and KWG Group for $180 million while APG and CBC Group in July and August acquired a life sciences property in Beijing’s Daxing Biomedicine Park as well as a land parcel in Zhongguancun Life Science Park. A joint venture of GIC and warehouse giant ESR bought a portfolio of nine logistics assets…
CK Asset Paying $1.1B to Buy Second Hong Kong Residential Site in One Week
…tpace five other bids, all coming from hometown competitors, including Nan Fung Development, Henderson Land Development, Wheelock Properties, Early Light Land and a joint bid by K Wah International, Sino Land and Great Eagle Holdings. The 214,408 square foot site, which sits less than a 10-minute drive from the former Kai Tak airstrip, marks the last government land parcel to be sold this year, according to Colliers, which noted that residential p…
Temasek-Backed STT GDC Eyes $1B IPO and More Asia Real Estate Headlines
…. Read more>> Kai Tak Runway Project Christened KT Marina The project of K Wah International, Wheelock Properties and China Overseas Land & Investment at 15 Shing Fung Road in Hong Kong’s Kai Tak has been named KT Marina, which will provide a total of 2,138 units in two phases. The first phase of the largest residential project in the old Kai Tak airport runway area will offer 1,017 homes ranging from one- to three-bedroom units, the developers sa…
Investors Snap Up $300M in Dalian Wanda Bonds and More Asia Real Estate Headlines
…own to remain in the mix and is partnering with Singapore sovereign wealth fund GIC. Read more>> Hong Kong Developers Rush 27,000 New Homes to Market as Sales Perk Up Hong Kong’s major developers are rushing to put more than 27,000 new homes on the market this year, seizing on an uptick in buying sentiment and transaction volume after the relaxation of COVID measures and the reopening of the border with mainland China. At least 14 developers, incl…