A commercial property unit of China Resources Holdings has become the latest investor to bet on Hong Kong’s student housing market, with the state-run firm agreeing to purchase a hotel in the city’s Kwai Chung area for around HK$953 million… Read More>>
Dah Sing Bank Buys Southside Floors for $107M as Occupiers Grab Hong Kong Office Space
Hong Kong has witnessed another jumbo office purchase by a corporate occupier, with Dah Sing Banking Group having purchased 10 floors in a tower on the island’s south side for HK$838.7 million ($107 million), according to an announcement on Saturday.
Sun Hung Kai Properties Boosts H1 Profit by 36% as Revaluation Loss Narrows
Sun Hung Kai Properties’ six-month attributable profit jumped 36 percent year-on-year to HK$10.2 billion ($1.3 billion) as Hong Kong’s biggest developer narrowed losses from markdowns of its investment properties.
The fair value of the properties, net of deferred taxation and… Read More>>
Hong Kong Raises Levy on Luxury Homes, Halts Commercial Land Sales for 2nd Year
Hong Kong is turning to the flood of wealthy investors picking up luxury homes in the city to shore up its finances as an ongoing office slump crimps the land sales revenue it has long relied on to run the… Read More>>
Goldman Sachs, JP Morgan Upgrade Hong Kong Housing Forecasts on Mainland Demand
JP Morgan and Goldman Sachs have both upgraded their forecasts for Hong Kong’s housing market, predicting double-digit price gains this year as fresh data bolster signs of a recovery.
With home prices in the city now having risen 10 percent… Read More>>
Dash Living Picking Up Former Hong Kong Hotel From Gale Well at 70% Off 2019 Price
Hong Kong’s plummeting property values have provided Dash Living with an economical opportunity to expand its portfolio in the city, as the Rava Partners-backed rental residential operator picks up a Wan Chai district property at 70 percent off the 2019… Read More>>
New World Says Nothing Signed Yet as Blackstone Said Set to Become Largest Shareholder
New World Development said late Thursday that no agreement has been reached regarding potential investments in the company, after a Bloomberg report hours earlier indicated that Blackstone is nearing a deal to become the embattled developer’s largest shareholder.
Citing discussions… Read More>>
Hong Kong Office Rents Edged Upwards in December Despite Rising Vacancy
Average rents for grade A offices in Hong Kong rose 0.4 percent in December as rising demand in the city’s core business district counterbalanced rising vacancy from completion of new buildings in the Asian commercial hub.
Office leasing rates averaged… Read More>>
LVMH’s DFS Group Sells Hong Kong, Macau Business to China’s CTG for Up to $395M
Luxury travel retailer DFS Group has agreed to sell its Greater China business to China Tourism Group Duty Free for not more than $395 million as the LVMH unit continues to downsize.
CTG Duty Free, which is listed on both… Read More>>
Emperor Sells Pair of Luxury Villas on Hong Kong’s Shouson Hill at 44% Off
A pair of villas in Hong Kong Island’s Deep Water Bay have sold for about 44 percent below the 2022 price for homes in the luxury project as buyers continue to scoop up bargains in the city’s high-end housing market.