Hong Kong property investors continue to suffer from the decline of the city’s commercial real estate values, with a cash-strapped player recently parting with a floor in the Bank of America Tower for more than a third less than the… Read More>>
Alibaba, Ant Complete $925M Office Buy From Mandarin Oriental as Hong Kong Deals Rise
Chinese e-commerce titan Alibaba and its Ant financial affiliate have completed their $925 million buy of the top 13 floors of Mandarin Oriental Hotel Group’s newly built Causeway Bay commercial tower, helping to boost Hong Kong real estate investment by… Read More>>
Casino King Lawrence Ho Sells Hong Kong Home to Mainland Tech Magnate at 2010 Price
Casino magnate Lawrence Ho has avoided joining the ranks of troubled Hong Kong tycoons selling assets at a loss, with the chairman of Melco Resorts and Entertainment having sold his home in the city’s exclusive Deep Water Bay area for… Read More>>
Hong Kong’s Central Sees Office Rebound as Decline Continues in Outlying Districts
Hong Kong’s recovering financial markets have rekindled office leasing demand in the city’s Central district, where rents began to inch upwards in recent weeks, at the same time that the outlook for the city’s secondary commercial hubs continues to look… Read More>>
Hedge Fund QRT Taking Six UBS Floors in Hong Kong’s IFC as Quant Traders Expand
London-based Qube Research and Trading has agreed to take up six floors in Hong Kong’s IFC, with the deal marking the second-largest office lease in the city’s Central district in the past decade, ranking behind a June deal announced by… Read More>>
Mapletree’s MPACT Selling Hong Kong Office Block to City University for $252M
Hong Kong has witnessed its second major sale of an office property in less than 24 hours, with the manager of Mapletree Pan Asia Commercial Trust (MPACT) announcing late Wednesday that it has agreed to sell part of the Festival… Read More>>
JD Buys Half-Stake in CCB Tower for $449M as Mainland Investors Scoop Up Hong Kong Assets
China’s JD.com has followed its rival Alibaba in investing in a major Hong Kong office tower, with the mainland tech giant said to have bought into Lai Sun’s CCB Tower.
Lai Sun Development and parent company Lai Sung Garment announced… Read More>>
Mandarin Oriental Shareholders Approve $4.2B Buyout by Jardines
Mandarin Oriental shareholders have overwhelmingly approved a proposal for Jardine Matheson to acquire the remaining 11.96 percent of equity in the luxury hotel operator not yet owned by the parent group.
The vote took place Monday and clears the way… Read More>>
Hong Kong Central Office Rents Inch Higher in First Monthly Rise Since 2022
Grade A office rents in Hong Kong’s prime Central district edged up 0.1 percent in October from September levels, marking the first monthly increase since May 2022, according to JLL.
Overall monthly rents remained broadly flat last month at an… Read More>>
Hongkong Land Q3 Underlying Profit Drops 13% as Central Contribution Dips
Hongkong Land reported a 13 percent year-on-year drop in third-quarter underlying profit on lower contributions from the builder’s Central-based hometown office portfolio.
The declining results for its Central office holdings, a set of 12 interconnected commercial buildings at the heart… Read More>>
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