Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

HK Office Space Now 76% More Expensive Than NYC and More Asia Real Estate Headlines

2016/09/15 by Michael Cole Leave a Comment

Hong Kong Central

Hong Kong’s Central continues to have the world’s priciest offices

China may be celebrating the moon festival, but the real estate market refuses to take a break over this lunar holiday. A new study finds Hong Kong office space is still the most expensive in the world, and IKEA reveals plans for more China stores as part of a global expansion. Plus, Vancouver aims another tax at foreign buyers and much more, if you’ll only read on.

HK Office Space Now 76% More Expensive Than New York

Hong Kong has retained its No 1 ranking globally in office leasing rates, and is set to keep hold of its title as the world’s most expensive for the next few years, according to a report released Thursday.

Hong Kong ranked on top in a survey of 31 cities around the world, with prime office space leasing for an average of US$278.5 per square foot per annum, according to Knight Frank’s Skyscraper Index, which compiled figures the 9-month period ended June 30. Read more>>

IKEA Focuses on China, India for Global Expansion

Ikea Group laid out plans to accelerate its expansion in China and open its first store in India as the world’s largest furniture retailer seeks to boost sales by almost 50% over the next four years.

In China, where the company opened its first store almost two decades ago, sustained growth will enable an accelerated pace of expansion, chief executive officer Peter Agnefjaell said in a telephone interview on Tuesday. Read more>>

Vancouver to Tax Vacant Homes as Canada Takes Aim at Foreign Buyers

Vancouver, suffering from a near-zero supply of homes available for rent, plans to slap investors sitting on vacant properties with a new tax in an effort to make housing more accessible in Canada’s most-expensive property market.

The levy, which would start in January, may be as high as 2 per cent of the property’s assessed value, Kathleen Llewellyn-Thomas, the city’s general manager of community services, told reporters on Wednesday. Read more>>

Ping An, Mitsubishi May Team With Lend-Lease on A$1.5B Sydney Project

One of Japan’s largest property houses, Mitsubishi, has emerged, alongside China’s Ping An Insurance, as the parties being courted as capital partners for Lend Lease’s proposed Circular Quay Tower.

The move may see the groups team up to invest in the $1.5 billion tower that Lend Lease has proposed on the site, with the developer seeking a major precommitment before it begins. Read more>>

China’s Central Bank Warns on Housing Bubble

China should take steps to restrain bubble-like expansion in housing markets and tame excessive financial inflows into property, according to a central bank economist.

“Measures should be taken to put a brake on the excessive bubble expansion in the property sector, and we should curb excessive financing into the real estate sector,” Ma Jun, chief economist of the People’s Bank of China’s research bureau, said in an interview with China Business News. A third of the financial-system leverage added over the past decade has come from the surge of housing prices, Ma said. Read more>>

Wumart Teaming with TPG to Bid for China McDonald’s

Thirty years after entering China, U.S. fast-food giants Yum Brands and McDonald’s are changing their recipes for business operations in the country, with each using the same recipe — offloading their respective China operations.

In early September, Yum, which owns the KFC, Pizza Hut and Taco Bell chains, announced a sale of a slice of its China operations to private equity fund Primavera Capital Group and Ant Financial Services Group, which is affiliated with Alibaba Group. The move is a step in the company’s plan to spin off its China operation and list it on the New York Stock Exchange separately. Read more>>

Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.

Related Stories

  • China Vanke 2011 Profit Rises 32% — and more of today’s China real estate links | March 14, 2012
  • JLL Names New China Research Chief as Agencies Up Their Numbers GamesJLL Names New China Research Chief as Agencies Up Their Numbers Games
  • Asia Real Estate People in the News 2021-04-12Asia Real Estate People in the News 2021-04-12
  • Knight Frank Names Singapore-Based Neil Brookes to Lead Global Capital Markets TeamKnight Frank Names Singapore-Based Neil Brookes to Lead Global Capital Markets Team

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: IKEA, Knight Frank, PBOC, Ping An Group, TPG Capital Management, Vancouver, WuMart

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Mingtiandi Delivered

Sustainability Forum

MTD TV

MTD TV Value ADd

Tech, Green Loans Grab Spotlight in Final Session of MTD TV Value-Add Forum

MTD TV proptech show

COVID-19 Accelerates Proptech Adoption in Asia: Watch on MTD TV

More MTD TV Videos

Latest Stories

Darren Searle Logos

KKR, Abu Dhabi Fund Back A$1B Logos Development Venture in Australia

Wang Jianlin Sun Hongbin Li Sze-Lim

Wanda Topped Mainland Commercial Developers Again in 2020 Despite 13% Income Drop

crown sydney

Blackstone Ties $6B Crown Offer to Licences and More Asia Real Estate Headlines

Sponsored Features

Tony Horrell

Colliers’ Global Investor Sentiment Report Anticipates Up to 50% Surge in Investment in 2021 Sponsored Feature

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

Data Centre Startup Princeton Digital Lands $230M in Financing as China…Data Centre Startup Princeton Digital Lands $230M in Financing as China Platform Grows

Sun Hung Kai & Co Launches $300M Debt Vehicle to Grow Fund…Sun Hung Kai & Co Launches $300M Debt Vehicle to Grow Fund Management Business

Hongkong Land Leases Exchange Square Floors to S&P Despite Central…Hongkong Land Leases Exchange Square Floors to S&P Despite Central Market Slide


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team