Li Ka-shing’s CK Asset was the #1 performer for residential sales last year
Leading today’s Hong Kong real estate news, Li Ka-shing’s CK Asset Holdings achieved record-high sales for the industry last year by moving HK$53 billion in flats. Also in the headlines, mainland developers have changed their land-buying tactics in the city to avoid scrutiny, and a total of 26,000 apartments are slated to launch this year. All these stories and more await you, if you just keep reading.
CK Asset Notches Top HK Sales in 2017
CK Asset, the property firm owned by Hong Kong’s richest man Li Ka-shing, has recorded record annual contract sales by value for the Hong Kong market, thanks to strong sales at its Ocean Pride and Ocean Supreme developments.
The property giant sold HK$53 billion worth ($6.77 billion) of residential units in the city last year, according to Chiu Kwok-hung, its executive director. Read more>>
Mainland Developers Go Low-profile to Buy Hong Kong Land
Chinese developers are changing the way they acquire land in Hong Kong, shying away from headline-grabbing public land auctions in favour of private sales, amid continuing scrutiny by mainland authorities on overseas property investments.
Last year China’s 12 biggest developers generated RMB 2.55 trillion ($404.63 billion) in revenue from home sales, according to CIMB Securities. Read more>>
Developers Poised To Launch 26,000 New Flats This Year
CK Asset Holdings said it will launch nine residential projects totalling 2,800 units in the Year of the Dog.They will include 1,400 flats from Lohas Park phase eight in Tseung Kwan O, 800 units in Sham Shui Po, and 11 houses in Repulse Bay, executive director Justin Chiu Kwok-hung said yesterday.
Wheelock Properties said its Lohas Park phase five will provide 1,600 flats, with sizes ranging from 346 saleable square feet to 1,344 saleable square feet. Read more>>
Empire Group To Spend HK$6B Converting Club to 500-Room Hotel
Empire Group will spend a whopping HK$6 billion ($769 million) converting the site into a combined hotel and club for mariners, with its completion date set for 2022.
The 42-storey hotel will not be extravagant, but practical and in tune with the neighbourhood, said Albert Yiu Chi-wai, chief property officer at Empire Group Holdings, of which floors nine to 42 will accommodate 500 hotel rooms, covering a total area of about 300,000 square feet. Read more>>
New World’s Victoria Dockside Due To Open in 2019
The Victoria Dockside commercial project on the Tsim Sha Tsui waterfront is progressing well, New World Development Company said today, and is due for opening in 2019.
The development was known as the New World Centre. Rosewood Hong Kong, an ultra-luxury hotel, and Rosewood Residences, will be a part of the complex with a gross floor area of about 3 million square feet. Read more>>
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