…to having a new home in Beijing. Read on for all these stories and more. K Wah Boss Baffled By HK Market After Losing 16 Land Bids After more than 50 years as a Hong Kong developer, octogenarian billionaire Lui Che-Woo says he’s having trouble reading the city’s property market these days. “I can’t see clearly what’s happening in Hong Kong’s property market,” 87-year-old Lui said in an interview, after failing to win any land bid this year. “Recen…
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COLI-Sino Land-K Wah JV Wins HK Condo Site with $1.1B Bid and More Asia Real Estate Headlines
…San Francisco Business Times. Read more>> Financing From Li Ka-shing Helps Fuel HK Home-Buying Frenzy Thousands of people flocked to snap up flats in Hong Kong on Friday, lured by favourable financing terms offered by the city’s No. 2 developer even as authorities fret over sky-high prices that a series of cooling measures has failed to dampen. Potential buyers, clutching documents and flanked by agents, queued early for a chance to buy one of the…
COLI, Henderson, K Wah and Wharf Buy HK$15.95B Kai Tak Site at a Discount
…ses China Overseas Land & Investment (COLI), Henderson Land Development, K Wah International and Wharf Holdings – is paying a land premium of HK$15.95 billion ($2 billion) for the Kait Tak waterfront residential plot known officially as Area 4A Site 2. The price for the 50-year leasehold plot is 24 percent lower than the maximum of HK$21 billion analysts had initially expected it to fetch, and is equivalent to what China’s HNA Group paid for a Kai…
Wheelock, K Wah and COLI Win Kai Tak Site for HK$12.74B
…discount to valuations A joint venture invested by Wheelock Properties, K Wah International Holdings and China Overseas Land and Investment has won a tender for the biggest plot of residential land on what was once the runway of Hong Kong’s Kai Tak airport for HK$12.74 billion ($1.63 billion). According to an announcement by the Lands Department, Kai Tak Area 4A Site 1, which is approved for construction of just over one million square feet (100,…
Chun Wo Project Found Using Substandard Steel and More Hong Kong Real Estate Headlines
…s from the batch of 20 tonnes did not meet safety standards. Read more>> K Wah Sets 24% Price Premium at Tai Po Apartments Solaria K Wah International Holdings, the first developer to start selling in a massive 3,000-unit community in northeastern Hong Kong, has set a 24 percent price premium for its Solaria apartments at Tai Po’s Pak Shek Kok, confident in its belief that the higher price won’t deter millennial buyers eager to get their hands on…
Henderson Buys Out Aging Hong Kong Building to Acquire New Territories Site
…HK$69 million ($8.81 million) for the last three street front shops in the Wah On Building in Tai Po, according to a report in Hong Kong’s Economic Times, giving it full ownership of the 56-year-old property. The acquisition, which follows one of Henderson’s favoured approaches of buying up individual units in aging buildings, provides the developer with the opportunity to redevelop the 5,000 square foot site currently occupied by the Wah On Build…
China Taiping Said to Be Buyer of $1.3B HK Tower and More Asia Real Estate Headlines
…Buy-Back of Spanish Hotel Shares China’s heavily indebted airline-to-property conglomerate HNA Group has agreed a sale and repurchase deal on some of its shares in Spain’s NH Hotel Group to raise cash for internal financing. HNA, which has taken on billions in debt to fund a $50 billion acquisition spree in the last two years, faced rising funding costs in recent weeks as investors worry about its financial health. Read more>> Tune in again tomor…
ESR-REIT, ALog Investors Approve Merger and More Asia Real Estate Headlines
…n ($2.9 billion) was approved by 89 percent of shareholders. Read more>> K Wah Reports First Drop in Core Earnings Since 2017 K Wah International Holdings, the property developer owned by one of Macau’s biggest casino owners, reported its first drop in annual core earnings since 2017 after a COVID-led tourism slump deprived it of dividends from the gambling business. The company’s 2021 underlying profit, excluding a revaluation gain on investment…
Shui On Land Profit Up 37% on Surging Sales and More Asia Real Estate Headlines
…ich property sales soared by 90 percent to RMB 4.66 billion. Read more>> K Wah Profit Falls by More Than Half as Higher Interest Rates Sour Market K Wah International Holdings, the developer controlled by one of Macau’s biggest casino owners, said first-half profit declined by more than half after Hong Kong’s elevated interest rates dampened demand for homes. K Wah’s profit attributable to equity holders fell 55.4 percent to HK$481.9 million ($61….
China’s Real Estate Tycoons Pushed Out of Top 10 by Internet Entrepreneurs
…g Jianlin of Dalian Wanda with a worth of $13.2 billion. #13 Chan Laiwa of Fu Wah International Group with $6.1 billion. #15 Hui Ya Kan of Evergrande Real Estate with a fortune of $5.9 billion. (In 2012, Hui had ranked #6 on Forbes list with assets of $6.2 billion). #16 Hui Wing Mau of developer Shimao Property with assets of $5.4 billion. #19 Yang Huiyan of Country Garden with $4.9 billion. (Yang had stood at #11 in 2012 with a fortune of $4.5 bi…
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