CK Asset Holdings, the listed developer controlled by Hong Kong’s richest man, Li Ka-shing, reported strong earnings growth for the first half of 2021, with profit attributable to shareholders leaping 30.8 percent compared with the COVID-hit year-earlier period to reach… Read More>>
Despite Rising Housing Sales, Over 50% of Hong Kongers Uninterested in Home Buying
Despite the improving pandemic situation and rising property sales in Hong Kong, interest in buying homes fell by three percentage points to 14 percent in the second quarter of 2021, according to a Citibank survey on residential property ownership.
In… Read More>>
Swire’s Tale of Two Districts Reveals HK Office Tenant Flight to Value
The latest financial results released by blue chip developer Swire Properties highlight a growing trend in Hong Kong’s office market, as large occupiers flee the punishing prices of the city’s traditional business hubs in favour of lower rents at high-spec… Read More>>
Hong Kong Office Market Contracted Again in June as Central Vacancy Hit 7.4%
Hong Kong’s Grade A office market showed signs of weakness in June, despite leasing activity in Central having doubled in the first half of 2021, according to a report by JLL.
In June, Hong Kong experienced a citywide rise in… Read More>>
Wheelock Wins New Territories Residential Plot With $540M Bid
Hong Kong’s northern New Territories continues to command above-market land prices, particularly in the hotspot of Kwu Tung, where Wheelock Properties on Wednesday topped 11 rival bids to win a development site for HK$4.19 billion ($540 million).
The site, known… Read More>>
Stan Group Sells Hong Kong Industrial Building to China Resources for $290M
In Hong Kong’s biggest en-bloc industrial transaction this year, local property firm Stan Group has sold the East Asia Industrial Building (Phase One) in the New Territories for HK$2.24 billion ($290 million).
The asset sale is the fourth in less… Read More>>
Weave Buys Kai Tak Hotel to Add to Hong Kong Multi-Family Portfolio
Warburg Pincus-backed Weave Living has agreed to purchase a Kai Tak hotel as its sixth Hong Kong property, spending close to HK$390 million ($50 million) for the asset as the multi-family residential specialist continues to expand its portfolio.
Weave is… Read More>>
Richard Li’s PCCW Selling Data Centres to Colony Capital Successor for $750M
Hong Kong-based telecom operator PCCW is selling its data centre business to DigitalBridge, a New York Stock Exchange-listed real estate investment trust that was known as Colony Capital until one month ago, for $750 million, according to a notice to… Read More>>
Hong Kong Real Estate Investment Set to Double This Year Says C&W
As Hong Kong recovers from the pandemic and its longest-ever recession, investors have resumed the search for real estate returns, helping to drive transactions during the first half of 2021 to a total that already exceeds all of last year,… Read More>>
Defective New World Condo Project in Hong Kong Leads to $850M Slide in Market Value
Buyers at one of Hong Kong’s hottest residential projects got some unsettling news late last week, as New World Development said construction defects would force the demolition and rebuilding of some parts of the company’s Pavilia Farm complex atop Tai… Read More>>
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