Another Hong Kong property developer is ready to swallow a loss amid the ongoing slump in asset prices in the city, seeking to sell his 19-floor holding in a Wan Chai office building for around 10 percent less than he… Read More>>
Hong Kong Home Prices Fall to 9-Year Low as Trade War Dims Outlook
Hong Kong home prices fell for a fourth straight month in March, dropping 0.49 percent from February to drag an official index to the lowest level in nearly nine years despite a rebound in transactions.
Home prices fell 7.8 percent… Read More>>
HKEX Buying 9 Floors at Hongkong Land’s Exchange Square for $810M in Year’s Top Deal
Hongkong Land has chalked up the biggest office deal of the year in its hometown, with stock exchange operator HKEX committing to buy nine floors at the developer’s Exchange Square complex in prime Central district for HK$6.3 billion ($810 million).
Hong Kong Office Rents Down 42% From 2019 Peak After Q1 Slide: C&W
Grade A office rents in Hong Kong dipped to HK$43.90 ($5.66) per square foot per month during the first quarter of the year, marking a 42.2 percent decline from their peak in the same quarter of 2019, according to Cushman… Read More>>
Office Floor in Hong Kong’s Admiralty District Sells for 17-Year Low
An office floor in Hong Kong’s Admiralty district has sold for a price not seen since the global financial crisis of 2008, as commercial property values in the Asian business hub continue to plummet.
Financially troubled property investor Gale Well… Read More>>
Emperor Group Consolidates Site for 62-Home Project in Hong Kong’s Sai Ying Pun
Emperor International, the listed development subsidiary of Emperor Group, has consolidated a project in Hong Kong’s Western district with plans to build 62 new homes in the Sai Ying Pun neighbourhood.
On Wednesday, Emperor agreed to acquire the space it… Read More>>
Distressed Mainland Tycoon Sells Condo on Hong Kong’s Peak for $66M
A decade after buying Asia’s priciest condo, a mainland tycoon who defaulted on loan obligations linked to his purchase of a Quarry Bay office complex has sold the home on Hong Kong’s Peak for HK$512 million ($66 million), according to… Read More>>
Two-Floor Pickup at Swire’s Pacific Place Led Hong Kong Office Leasing in February
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.
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