A joint venture between US private equity firm TPG Angelo Gordon and local builder Hanison Construction has agreed to sell a hotel in Hong Kong’s Sai Ying Pun area for 44 percent less than it paid to acquire the property… Read More>>
Office Floor in Hong Kong’s Central Sold for 58% Off 2018 Purchase Price
A floor in a commercial tower which once set the record for Hong Kong’s most expensive office is now a contender to be named the city’s greatest loss of value as distressed sales become the norm in Asia’s most expensive… Read More>>
Meitu Founder Pays Premium to Buy Hong Kong Commercial Tower for $84M
Mike Cai Wensheng, the billionaire co-founder of selfie-app Meitu, paid HK$650 million ($84 million) for a commercial property in Tin Hau on Hong Kong Island in a deal that values the Park Aura building at 20 percent above what comparable… Read More>>
HKEX Buying 9 Floors at Hongkong Land’s Exchange Square for $810M in Year’s Top Deal
Hongkong Land has chalked up the biggest office deal of the year in its hometown, with stock exchange operator HKEX committing to buy nine floors at the developer’s Exchange Square complex in prime Central district for HK$6.3 billion ($810 million).
Office Floor in Hong Kong’s Admiralty District Sells for 17-Year Low
An office floor in Hong Kong’s Admiralty district has sold for a price not seen since the global financial crisis of 2008, as commercial property values in the Asian business hub continue to plummet.
Financially troubled property investor Gale Well… Read More>>
Francis Law Sells Kowloon Retail Podium for 67% Below Pre-Pandemic Price
Real estate investor Francis Law has completed the HK$880 million ($113 million) sale of a Kowloon retail podium to City University of Hong Kong, with the property changing hands at a 67 percent discount to its pre-pandemic guide price.
The… Read More>>
Commercial Building in Hong Kong’s Central Trades for $140M After Bank Pressure
A commercial tower in Hong Kong’s prime Central district has changed hands for HK$1.1 billion ($140 million) in a distressed sale, according to market sources who spoke to Mingtiandi.
The 28-storey building at 152 Queen’s Road Central traded at HK$18,197… Read More>>
Receivers Sell Former Cheung Kei Hong Kong HQ at 62% Off as Banks Take Haircut
Hong Kong Metropolitan University (HKMU) has agreed to buy a Kowloon office building that once served as the Hong Kong headquarters building of defaulted mainland property firm Cheung Kei Group, after the asset lost nearly two thirds of its value… Read More>>
Hong Kong Investor Lai Wing-To Sells Wan Chai Serviced Apartment Block for $21M
Hong Kong property investor Lai Wing-To has sold a serviced apartment block in the city’s Wan Chai area, as the “Ten Billion Shop King” continues to sell down his property portfolio amid plunging commercial real estate valuations in the Asian… Read More>>
Tycoon Edwin Leong’s Tai Hung Fai Completes $42M Purchase of $24M Kowloon Property
One of Hong Kong’s richest men is wrapping up a HK$324.7 million ($42 million) purchase of a Kowloon property now worth just over half that amount, thanks to the city’s rapidly declining housing market.
Tai Hung Fai Group… Read More>>
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