Tycoon Tang Shing-bor has sold a pair of buildings next to Hong Kong’s popular Times Square shopping mall for a total of HK$950 million ($122 million), paving the way for the rare parcel in Causeway Bay to be redeveloped… Read More>>
Mandarin Oriental Said Offered Record $3.8B for Excelsior Hotel
The Mandarin Oriental Hotel group has begun to receive offers for the Excelsior Hotel in Hong Kong’s Causeway Bay, with at least five bids reportedly valuing the four-star waterfront property at HK$30 billion ($3.8 billion).
If the 848-room Excelsior is… Read More>>
CLSA Capital Partners Sells Hong Kong’s Zing! Retail Centre for $269M
CLSA Capital Partners has sold Zing!, a 27-storey retail centre in the heart of Hong Kong’s Causeway Bay retail district, for HK$2.1 billion ($268.6 million).
The undisclosed buyer is reported to have paid for Zing! by selling The L. Plaza,… Read More>>
Mandarin Oriental Could Make $3.4B From Excelsior Hotel Sale
Hong Kong’s Mandarin Oriental Hotel group began testing buyer interest in the Excelsior Hotel in the city’s Causeway Bay district for a sale that could bring the Jardines-owned luxury hotel brand as much as HK$27 billion ($3.4 billion).
The London… Read More>>
HK’s Causeway Bay Still 2nd for Retail Rents Globally Despite Downturn
Shops may be closing due to disappointing sales in Hong Kong’s Causeway Bay area, but the glitzy shopping street still hung onto its rank as the second-most expensive place to rent a shop in the world, behind only New York’s… Read More>>
Beijing’s Wangfujing Ranks 13th for Retail Rents Globally
Rents in China’s most expensive shopping district rose by more than nine percent in the last year, but the increase was only enough for Beijing’s Wangfujing to keep its ranking as the world’s 13th most expensive place to open a… Read More>>
12 Square Metre Hong Kong Shop Sells for US$23M
The new record for most valuable commercial property in Asia belongs to 12 square metre (130 square foot) shop in Hong Kong’s trendy Causeway Bay shopping district.
The non-descript electronics shop at 77-83 Matheson Street near the popular Times Square… Read More>>
Foreign Retailers Shift Away from Prime Areas as HK Rents Rise
Hong Kong’s retailing landscape is changing. With the competition for space in the city’s traditional retail districts–Central, Causeway Bay, Tsimshatsui and Mongkok–driving rents to eye-watering levels, foreign retailers are increasingly shifting their focus to shopping centres in the New Territories. Fast fashion brands such as Uniqlo, Gap, H&M and Zara have been leading the trend but others are following.
In addition to capturing a share of the growing Mainland-shopper market, retailer interest is also being attracted by growing local populations resulting from the completion of new residential developments.
Beijing’s Wangfujing Now Among Asia’s 10 Priciest Retail Locations
China’s growing taste for shopping is pushing up retail rents in the world’s second-largest economy, and now a global survey has confirmed that in at least one key district, the cost of securing shop space is among the ten highest… Read More>>
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