Leading today’s Hong Kong real estate news, the real estate arm of the home appliance company Midea is seeking an initial public offering in Hong Kong Stock Exchange.
Also in the headlines, CK Assets’ Victor Li is urging the government to increase land and housing supplies in face of the city’s rising home prices, and Henderson Land has picked Zaha Hadid Architects to design their upcoming project on Murrary Road in Central. All the latest from Hong Kong’s real estate world awaits you below.
Midea Real Estate Holding Limited, a real estate company under mainland China appliance maker Midea has applied to be listed on Hong Kong’s main board, according to a statement on the stock exchange.
According to the preliminary prospectus, the company, as a real estate developer in China, has business operations in 11 provinces and 33 cities, mainly providing projects related to upscale living and intelligent homes. Read more>>
Zaha Hadid Architects is set to build a 35-storey office tower on a £2.2 billion plot in Hong Kong, reportedly the most expensive site in the world.
London-based Zaha Hadid Architects (ZHA) has confirmed that it is working with Henderson Land Development to design an office block on Murray Road, on a site currently occupied by a multi-storey car park. The developer purchased the plot last year for HK$23.3 billion (£2.2 billion) – a record figure, according to numerous news outlets. Read more>>
Victor Li Tzar-kuoi, the new chairman of CK Hutchison Holdings and CK Asset Holdings, who recently took over from his father and Hong Kong’s richest man Li Ka-shing, on Thursday urged the government to boost house and land supplies as a long-term strategy even as property prices continued to rise for the 25th straight month in the city.
CK Asset Holdings is one of the largest listed developers in Hong Kong. “Houses are for living besides investment,” said Li at the opening of A S Watson Group’s new retail concept store CKC18, his first public appearance as chairman since taking over the reins. Read more>>
The 13-storey building at the corner of Boundary and Portland streets in Kowloon has been home to cheap hotels, but its latest incarnation reflects the global demand for co-living spaces. When Weave on Boundary opens this summer, its 160 rooms will be marketed to Hong Kong millennials seeking an affordable, stylish place to live.
“It’s about sharing, collaboration and living with like-minded people,” says Weave Co-Living CEO Sachin Doshi. “The moment they step into the property, we want them to feel at home.” Read more>>
Three adjoining shops at 1 – 2 Man Shang Street in Sheung Shui were sold for HK$19.6 million, according to Midland who brokered the sale. The shops get a combined HK$49,000 rental income per month, with a yield of around three percent.
The seller purchased the properties a year ago for HK$18 million. Sheung Shui has become a popular destination for mainland tourists because of its proximity to the mainland, which has driven the growth of rents in the district. Read more>>