Kelvin Lim, executive chairman of LHN Ltd
Three freehold co-living properties have been put up for sale for a guide price of $91.6 million, with that story leading today’s headline roundup. In other news, developers’ sales in Singapore regained some footing in September after clocking their lowest-ever sales figure for the month of August and the consortium behind Lumi Hanoi has sold 99 percent of the residential project since sales started.
LHN Puts Three Singapore Freehold Co-Living Properties on Market at $91.6M
Three freehold co-living properties have been put up for sale for a guide price of S$120 million ($91.6 million) by property management services group LHN.
The three properties are located at 115 Geylang Road, 471 Balestier Road and 404 Pasir Panjang Road, said marketing agent JLL, which is conducting an expression of interest exercise. Read more>>
Singapore Private Home Sales Bounce Back in September After Seasonal Lull
Singapore developers’ sales regained some footing in September after clocking their lowest-ever sales figure for the month of August since official records were made by the Urban Redevelopment Authority in 2007.
Based on data released on Tuesday (Oct 15), a total of 401 new private homes – excluding executive condominiums – were sold in September. Read more>>
China’s Wanda Sells Stake in Hollywood Studio Legendary Entertainment
Legendary Entertainment is making a big strategic move, buying out Dalian Wanda Group’s stake in the company.
In an interview with The Hollywood Reporter, Legendary CEO Josh Grode framed the deal as being a “right place, right time” situation. Read more>>
CapitaLand Development’s Lumi Hanoi Achieves 99% Sales
The consortium behind Lumi Hanoi has sold 3,921 out of 3,950 units or 99 percent of the entire residential project since sales started in April, with two- and three-bedroom units being sold out. Some 678 out of 697 units were sold at the third and final launch that took place on October 5.
This came after more than 3,100 units were sold at the phase one and two launches, said CapitaLand Development in a news release on Monday, October 14. Read more>>
Henderson Land Managing Director Peter Lee Champions Clean Energy Investments
Hong Kong business magnate Peter Lee Ka-kit believes climate change is the world’s most pressing challenge, and he is determined to keep funding clean energy and electricity start-ups to find sustainable solutions.
Lee, 61, is co-chairman and managing director of Henderson Land Development, one of Hong Kong’s leading developers, which was founded by his father, Lee Shau-kee, Hong Kong’s second-richest man, who has an estimated wealth of $27.8 billion, according to Forbes. Read more>>
Fila, Panerai and Armani Secure Large Hong Kong Retail Spaces
High vacancy rates in Hong Kong’s retail property market are likely to persist in the near term, which is providing incentives for retailers including Swatch, Abercrombie & Fitch and Mango to snap up prime spaces, according to analysts.
In the city’s four core shopping districts – Causeway Bay, Central, Mong Kok and Tsim Sha Tsui – between 8.9 percent and 15.4 percent of shops were empty in the third quarter, up from 6.8 per cent to 12.8 per cent in the first quarter, according to Midland IC&I. Vacancy is set to increase slightly in the first quarter of 2025, to between 9 percent and 16 percent, the commercial property agency said. Read more>>
Hong Kong Developers Sun Hung Kai Properties and CK Asset Hike Prices
Sun Hung Kai Properties has raised prices for its new projects and CK Asset is set to follow suit as they anticipate more supportive measures in the upcoming policy address on Wednesday from Beijing.
Both the major developers have been recording overwhelming sales. CK Asset is considering raising prices for new projects as it anticipates that the policy address and Beijing’s package will activate the economy. Read more>>
Vietnam’s Major Cities Among Least Affordable in Southeast Asia
Vietnam’s housing market is under immense pressure as prices continue to soar, with Ho Chi Minh – the country’s business and financial hub – now one of the most unaffordable cities in Southeast Asia for locals, surpassing the likes of Bangkok, Jakarta and Singapore.
A growing population, speculative buying and stagnant supply are pushing prices far beyond income growth – mirroring challenges faced by some of the world’s major cities. Read more>>
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