New World Development has teamed with state-controlled China Resources Land on a residential joint venture worth a reported HK$10 billion ($1.28 billion), giving the debt-laden Hong Kong builder a chance to raise cash from farmland it owns in the New… Read More>>
Hong Kong Warehouse Rents Fell 0.5% in Q3 Amid Trade Weakness
Warehouse rents in Hong Kong declined 0.5 percent year-on-year in the third quarter of 2023 as logistics demand continued to diminish and warehouse tenants refrained from actively seeking expansion opportunities, according to Savills.
The Asian finance hub’s logistics sector has… Read More>>
Sole Bidder Sino Land Wins Lantau Island Residential Site for $26M
Hong Kong’s Lands Department on Wednesday awarded a residential development site on Lantau Island to Sino Land for HK$203.9 million ($26.1 million), defying expectations that the tender might be withdrawn.
The builder controlled by tycoon Robert Ng was the sole… Read More>>
Sino Land Enters Sole Bid for Lantau Residential Site in Hong Kong
A residential site on Hong Kong’s Lantau Island drew a single bid from local builder Sino Land at a tender that closed Friday, potentially setting the stage for a fourth withdrawn plot at government land sales in 2023.
The low-density… Read More>>
Hong Kong Grade A Office Rents Seen Falling Another 5-10% in 2024
After declining by 5.3 percent this year, Grade A office rents in Hong Kong are likely to tumble another 5 to 10 percent in 2024 as high interest rates and a global economic slowdown continue to challenge the leasing market,… Read More>>
Sino Land JV Bags Kowloon Residential Site With $250M Bid
Hong Kong’s Sino Land continues to snap up Kowloon residential sites at bargain prices, with the local builder and partners China Merchants Land and Great Eagle Holdings winning a tender this week for a project in the Kai Tak area… Read More>>
Ex-Campfire Boss, Mom Jailed for Scamming Partner in Hong Kong Mall Deal
A co-founder of defunct Hong Kong co-working operator Campfire and his mother have each been sentenced to 30 months in prison for duping a business partner into paying a bogus commission fee on the acquisition of a Tsuen Wan community… Read More>>
Hong Kongers Grow Pessimistic on Residential Market: Citi Survey
Just 13 percent of Hongkongers polled by Citi say it’s a good time to buy a home, down from 16 percent a year ago, the global bank said Tuesday.
The latest figure, based on data from 1,100 respondents in September,… Read More>>
Li Ning Buying Office Tower From Henderson for $283M to Set Up Hong Kong HQ
Chinese gymnastics legend Li Ning made his name being fearless on the pommel horse and rings, and now the sportswear company that bears his name is vaulting into a Hong Kong office market where many investors fear to venture.
China’s… Read More>>
StoreFriendly-Blackstone JV Boosts Self-Storage Portfolio with $72M Hong Kong Buy
A joint venture between US private equity giant Blackstone and Hong Kong-based self-storage operator StoreFriendly has acquired an industrial building in Hong Kong’s New Territories for HK$560 million ($72 million), with plans to convert the Tsuen Wan property into a… Read More>>
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