Tenants in Hong Kong’s Grade A office market took up 7,200 square feet (669 square metres) more than they gave back in February, a marginal gain aided by a new letting at Swire Properties’ Pacific Place complex in Admiralty, according… Read More>>
Consultants Envision High Returns Converting Hong Kong’s Unloved Office Buildings
With falling rents and a surge in new building completions taking a toll on Hong Kong office occupancy, consultants see opportunities for achieving five-year internal rates of return (IRR) of around 20 percent by converting unloved office buildings into multi-purpose… Read More>>
Swire Properties Swings to $99M Loss on Headwinds From ‘Difficult’ Hong Kong Office Market
Swire Properties reported an attributable loss of HK$766 million ($98.5 million) for 2024, reversing a year-earlier profit of HK$2.6 billion, as the Hong Kong-based builder’s hometown office portfolio drove markdowns on investment properties for a second year in a row.
Hongkong Land Loss More Than Doubles to $1.4B as Central Portfolio Pain Continues
Hongkong Land said its attributable loss more than doubled to $1.39 billion in 2024, as falling rents and lower valuations continued to dog the developer’s hometown office portfolio based in prime Central district.
The Jardine Matheson-controlled developer’s full-year loss widened… Read More>>
Mapletree $473M Buy of Hong Kong Logistics Site Marks 57% Discount from 2022
Singapore’s Mapletree Investments has won a warehouse site near Hong Kong’s Kwai Chung Container Terminals at a price 57 percent below what a nearby site sold for in 2022, as declining port activity undermines logistics demand in the Asian commercial… Read More>>
Hongkong Land Signs Up Law Firm HFW to Lease Central Floors Amid Rebound Hopes
Hongkong Land announced Tuesday that global law firm Holman Fenwick Willan has taken up two floors at one of the developer’s buildings in Central, as the premier office district shows signs of rebounding after a multi-year struggle.
London-based HFW relocated… Read More>>
TPG Angelo Gordon JV Marketing Hong Kong Office Floors at 32% Below Acquisition Price
With Hong Kong’s office market continuing to shrink due to falling demand from tenants, a TPG Angelo Gordon joint venture is marketing a pair of Kowloon East office floors for 32 percent below their 2018 acquisition price.
A tie-up between… Read More>>
Sun Hung Kai $77M Residential Buy Marks Cheapest Hong Kong Land Sale in 11 Years
Sun Hung Kai Properties has won a site near Hong Kong’s international airport at the lowest price in more than a decade, after the Hong Kong government conducted a second tender of the residential plot.
Hong Kong’s largest builder by… Read More>>
APAC Investors Relish Rate Cuts, Hong Kong Remains a Buyers’ Market: Colliers Sponsored Feature
This year, investors in the Asia Pacific market are preparing for lower interest rates following an extended period of inflation that kept many on the sidelines. Expectations of further rate cuts and narrowing pricing and valuation gaps will likely drive… Read More>>
Hong Kong’s Emperor Group Approved to Buy Sai Ying Pun Site at 12% Discount
Hong Kong’s sliding property values are providing Emperor International, the listed development subsidiary of Emperor Group, with an opportunity to consolidate a Western district project at a 12.4 percent discount to 2021 pricing, according to a government decision late last… Read More>>