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>>
Emperor Entertainment Hotel Sells Hong Kong Serviced Apartment Block for $35.4M
Emperor Entertainment Hotel, the HKEX-listed hospitality arm of Hong Kong-based conglomerate Emperor Group, has agreed to sell a 57-unit serviced apartment block in Hong Kong’s Kennedy Town area for an agreed property value of HK$275 million ($35.4 million), after the… Read More>>
Foreclosed Hotel in Hong Kong’s Tin Hau Sells for 60% Below Asking Price
A hotel near Hong Kong’s Causeway Bay retail hub has sold for 60 percent less than the former owner’s asking price a year ago, as investors hunt for bargains amid plunging property valuations in the Asian financial centre.
Receivers acting… Read More>>
JD Property Acquires Hong Kong Industrial Building from M&G for $232M
JD Property, the infrastructure investment and management arm of Chinese e-commerce giant JD.com, has acquired the LiFung Centre in Hong Kong from London-based M&G Real Estate for HK$1.8 billion ($232 million), in the city’s largest en-bloc industrial transaction so far… Read More>>
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