…ine Care Group from entities owned by Stan Tang, the youngest son of late “Shop King” Tang Shing-bor, his brother Jason Tang and the patriarch’s widow, according to a Tuesday joint announcement by Chinachem and Pine Care. “This agreement marks another crucial investment under our business diversification strategy, and opens a new chapter in our healthcare and elderly care business development,” Chinachem executive director and CEO Donald Choi said…
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Australiaโs Goodman Opens 400MW Hong Kong Data Centre Campus
…n the neighbouring town of Kwai Chung from the family of Hong Kong’s late “Shop King” Tang Shing Bor. Growing Data Centre Portfolio Ranked as the largest industrial property group on the Australian stock exchange, Goodman opened its Hong Kong tech facility less than a year after taking on a pair of Japanese data centre projects. Goodman acquired the disused Central Textiles factory site in 2014 In a tie-up with Singapore’s ST Telemedia Global Data…
Hong Kongโs Fairland Holdings Buys To Kwa Wan Retail Centre for $54M
…verhaul Hong Kong developer Fairland Holdings has acquired a neighbourhood shopping centre in the urban renewal hotbed of To Kwa Wan for HK$425 million ($54.2 million). Fairland, known locally for its suburban developments Fairview Park in Yuen Long and Hong Lok Yuen in Tai Po, plans to upgrade Horae Plaza to better serve the growing community west of the former Kai Tak airport site across Kowloon Bay. The property at 207-211 Ma Tau Wai Road measu…
$1B West Kowloon Commercial Project Up for Tender in Hong Kong
…project will be linked directly to the MTR Corporation-developed Elements shopping mall in Kowloon, said Hannah Jeong, head of valuation and advisory services at Colliers Hong Kong. The entire project would cover around 672,044 square feet (62,435 square metres) of office space, with another 26,909 square feet (2,500 square metres) reserved for retail. The site, located adjacent to the Kowloon station, is in an area of the district known as Artis…
Shenzhen Govt Takes Over 4 Evergrande Projects and More Asia Real Estate Headlines
…i find themselves beset by high vacancy rates and demands for rent reductions as China’s zero-COVID policies continue to suppress the retail and restaurant trades, dashing hopes of a recovery after the city’s two-month lockdown earlier in the year. Vacancy rates at premium shopping malls, wholesale clothing centres, wet markets and street shops are set to increase in the face of weaker consumer sentiment, analysts said. Read more>> Tune in again s…
Goodman Said Planning Buy of a Floor in Kowloon Industrial Building for $46M
…trial building in the New Territories from the family of Hong Kong’s late “Shop King” Tang Shing Bor, for around HK$380 million, according to Savills’ Chong. That 15-storey building also sits about 550 metres (601 yards) from Goodman’s existing logistics centre on Castle Peak Road, and is less than 5 kilometres (3 miles) from the ATL Logistics Centre, where the group holds a 25 percent interest. Goodman’s reported activity takes place after trades…
Price Record at Singaporeโs Suntec City Broken for Third Time in Four Months
…a convention centre. Suntec City, which houses Singapore’s second largest shopping mall and a convention centre at the feet of its five office towers has 66 years left on its leasehold. The development was completed in phases from 1995 through 1997, and received a S$410 million facelift in 2015 to upgrade and expand the retail element. Family Offices Boost Spending “The influx of family offices and industry elites from all over Asia is driving de…
Private Equity Props Up HK Industrial Market Amid Slowing Rental Growth
…e of the Chuan Kei Factory Building in Kwai Chung from the family of late “Shop King” Tang Shing-bor for HK$380 million, as well as Kailong’s purchase of a 90 percent share of Wing Shing Industrial Building in Kwai Chung from the Tang clan for HK$433 million, possibly with a view to its redevelopment potential. In July, GLP rival ESR acquired its second-ever project in Hong Kong, shouldering aside two competing bids to secure a logistics site at K…
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