Henderson Land Development has made a car park in Central district Hong Kong’s most valuable commercial property, after the top local developer agreed to pay HK$23.3 billion ($3 billion) for the site at a government land auction which closed last… Read More>>
Packer’s Crown Resorts Cashes Out of Macau and More Asia Real Estate Headlines
James Packer is one of the world’s best known gamblers, but even Australia’s casino king may have found the odds a bit too long in Macau, according to a story in the Wall Street Journal today. Also in the headlines,… Read More>>
Champion REIT CEO Calls an End to Hong Kong’s Retail Slide
Champion REIT produced a 15.7% jump in distributions to its unit holders in 2016 and the Hong Kong-based real estate investment trust’s freshly minted CEO expects even bigger things this year.
While the REIT sponsored by Hong Kong developer Great… Read More>>
How Hong Kong Can Bring in More Than Just HK$18B From a Land Sale in Central Sponsored Feature
Hong Kong has just finished taking bids for the first commercial site to be auctioned off in Central in the last 20 years, and the land sale could bring in as much as HK$18.6 billion ($2.4 billion) for the city’s… Read More>>
Bidders Expected to Line Up for $2.2B Hong Kong Car Park
The first sale of a plot of commercial land in Hong Kong’s central business district in more than 20 years is expected to stir up a bidding war that could bring offers of as much as HK$17 billion ($2.2 billion)… Read More>>
Asia City Centres Shifting as Rents Rise and Infrastructure Improves
Five years ago if you had asked a Shanghainese the way to the downtown business district, he likely would have pointed you in the direction of West Nanjing Road. In Hong Kong you’d have headed to Central, or in Singapore… 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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