Leading today’s Hong Kong real estate news, just a month after snapping up an industrial building in Kwai Chung, Hanison Construction has reportedly purchased another workshop on the other side of Kowloon for HK$420 million.
Also in the headlines, a logistics site in Tuen Mun, the first the government has offered via public tender in five years, is expected to sell for HK$2.6 billion when it goes up for bid on Friday, and the clever dealmakers at Goldin have found yet another way for the company’s chairman to gain access to the assets of the publicly listed investment firm. All these stories and more await you slightly further down the page, if you just keep reading.
Hong Kong Land Registry records show four floors in the San Po Kong building with an area of 7,762 square feet (721 square metres) each were sold to a Hanison affiliate for HK$258 million. Hanison has recently bought a Kwai Chung industrial building last month for HK$720 million. Read more>>
Chinese e-commerce and logistics companies are expected to submit aggressive bids for a large logistics site in Tuen Mun on Friday, the first the government has offered in the past five years through tender, according to industry professionals.
The 340,870 square feet plot on Siu Lang Shui Road opposite River Trade Terminal in Pillar Point, with a plot ratio of 2.5 times, is expected to yield a total gross floor area of 852,000 sq ft for a five-storey logistics centre. Read more>>
Albert Yeung’s Emperor International Holdings has acquired a residential site at 24 – 26A Davis Street in Kennedy Town for HK$250 million. The company has paid an equivalent of HK$12,000 per square foot of prospective floor area for the site, which is currently occupied by a six-storey residential block.
If redeveloped, the 2,517 square foot plot can yield up to 21,000 square feet floor area and Emperor International is expected to develop a residential project offering mid to small-sized homes. Read more>>
Goldin Financial is selling a pair of plots in Ho Man Tin to its chairman Pan Sutong for a combined HK$12.4 billion. One of the plots is located in Sheung Shing Street, which was bought by Goldin in 2016 for HK$6.4 billion. The plot will be developed to a 400-unit luxury residential project, completed in 2020.
The second plot in the set is a residential site near the Ho Man Tin MTR station, which Goldin had acquired via tender from the MTR Corporation in 2016 for an unknown amount. The development cost for the project is estimated to be around HK$13 billion. Read more>>
Office rents in Hong Kong’s Tsim Sha Tsui district are set to jump this year, say analysts, as a plentiful supply of space and vastly improved transport links make it the top choice of mainland Chinese technology firms.
A dearth of office space in the city’s main business district, Central, is making Tsim Sha Tsui more attractive, and 2018 could see a wave of new-economy companies from the mainland set up shop there. Read more>>