Leading today’s Hong Kong real estate news, just weeks after announcing plans to retire, the city’s richest man Li Ka-shing spent HK$130 million ($17 million) to snap up shares in CK Asset Holdings in just two days. Also in the headlines, Henderson Land is charging an NGO federation a token rent of HK$1 per month for a site where needy families will be housed in shipping containers, and Swire Properties is boosting the city’s startup scene via free rent at its Cityplaza mall in Quarry Bay. All these stories and more await you, if you just keep reading.
Billionaire Li Ka-shing who has continued to buy shares in CK Asset Holdings for two straight days this week, has raised his stake in the company to 31.72 percent through the Li Ka Shing Foundation.
Li started buying CK Asset shares on Monday, and continued yesterday, buying 1.95 million shares in total, at an average price of HK$66.63 per share. He bought shares worth HK$130 million. Read more>>
Set to be the first of their kind in Hong Kong, stackable units converted from shipping containers are to be erected in the downtown residential district of Sham Shui Po as a new form of housing for needy families.
Private developers Henderson Land Development has confirmed it had offered the site, at No 202-220 Nam Cheong Street, to the Hong Kong Council of Social Service – an umbrella group of welfare organisations – for its transitional social housing project. Read more>>
Hong Kong’s housing chief has ruled out imposing a minimum size on private flats being built in the city, despite complaints about a growing trend of people being squeezed into smaller homes.
Speaking at a special finance committee meeting of the Legislative Council on Wednesday, Secretary for Transport and Housing Frank Chan Fan dismissed calls to regulate private developers’ supply of micro flats, saying aspiring home buyers might not be able to afford larger homes, given skyrocketing property prices. Read more>>
Huawei Technologies, China’s biggest smartphone maker, will open its first retail store in Hong Kong by the end of July as part of its bid to narrow the gap with market leaders Apple and Samsung Electronics in the city.
The new store will have a gross floor area of 2,000 square feet in Tsim Sha Tsui, offering customers an opportunity to try out Huawei’s latest products. The news came after the Shenzhen-based company unveiled its flagship P20 Series smartphones in Hong Kong last week. Read more>>
Swire Properties will offer a two-month rental waiver for three start-ups at its Cityplaza mall in Taikoo through an incubation program titled Maker House. The six-month initiative will start in May and aims to sponsor startups engaged in sustainable businesses.
Cityplaza will also offer them advice on business modelling and marketing. The mall has introduced 10 new shops and restaurants after some 20 new brands were welcomed at the end of last year. Read more>>
Tune in again later for more Hong Kong news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.