New World Development has agreed to sell the podium levels of the Cosco Tower in Hong Kong’s Sheung Wan area for 45 percent less than the property giant had been asking for the commercial property just three months ago, according… Read More>>
Billionaire Developer Targets HK$700M Forced Sale in Western HK
One of Hong Kong’s wealthiest men has moved a step closer to developing a residential complex in the city’s Sai Ying Pun district after successfully applying for a compulsory sale of the remaining units in a 61-year-old walk-up near the… Read More>>
Tencent Exec Buys Repulse Bay Pad at 18% Off and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, properties in the Asian financial hub continue to be sold at knockdown prices, with the chief strategy officer of tech giant Tencent buying a Repulse Bay luxury home at an 18 percent discount,… Read More>>
Hony Capital Said to Lease Office in Hong Kong’s IFC at 35% Off 2017 Rates
Mainland private equity investor Hony Capital has leased out an upper level unit in Hong Kong’s Two International Finance Centre for HK$130 ($17) per square foot per month – a 35 percent discount on what an equivalent space in the… Read More>>
Hanison Said Offering Pamfleet HK$930M for Hong Kong Hotel
Hanison Construction Holdings is said to be in due diligence on a Travelodge hotel in Hong Kong’s most expensive district, after offering a reported HK$930 million ($120 million) for the mid-scale hotel, according to two people familiar with the matter.
HK Elite Families Buy Floor in Central, Wanchai Project for Combined HK$539M
The British turned over Hong Kong to mainland China more than twenty years ago, but the city’s elite seem to still recall late UK Prime Minister Winston Churchill’s admonition never to waste a crisis.
With the COVID-19 pandemic putting pressure… Read More>>
Henderson, Swire Redevelopment Plan Rejected and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, Hong Kong giants Henderson Land and Swire Properties have had a joint commercial development application in Quarry Bay turned down despite snapping up a set of shops on the site for HK$82 million.
Tang Shing-bor Bails on HK$328M Hotel Buy and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, evidence of a downturn continues to dominate as “Shop King” Tang Shing-bor is said to have forfeited a HK$32.8 million ($4.23 million) initial payment in order to back out of Kowloon hotel purchase.
Shop in Central Sells for 50% Off and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, a retail unit in Central was sold for HK$15 million — 50 percent below the original asking price. Also in the headlines, watch maker National Electronics Holding acquired a luxury house in Deep… Read More>>
Hong Kong Office Rents Fell 2.2% in February as COVID-19 Rocks Property Market
The COVID-19 pandemic continues to batter Hong Kong real estate, with rents in the world’s most expensive office spaces suffering the steepest month-on-month drop in more than a decade, according to a report this week by JLL.
The property consultancy… Read More>>