Bain Capital is set to add another city to its Asia data centre network with the US fund manager in exclusive talks to acquire a pair of Hong Kong projects for up to HK$2.15 billion ($274 million).
Having already established… Read More>>
Morgan Stanley Flags Signs of Hong Kong Housing Turnaround
With Hong Kong home prices down 30 percent from their peak seven years ago, several drivers are pointing to a bottoming in the finance hub’s residential market, according to Morgan Stanley’s head of Hong Kong real estate research.
Indicators include… Read More>>
New World Seeks to Swap Office Floors for Hotel in Tsim Sha Tsui Project
As it struggles to refinance around $11 billion in debt amidst a declining property market, Hong Kong giant New World Development is reimagining a 28-storey commercial project in the heart of the city’s Tsim Sha Tsui tourist area.
After receiving… Read More>>
Office Floor in Hong Kong’s Central Sold for 58% Off 2018 Purchase Price
A floor in a commercial tower which once set the record for Hong Kong’s most expensive office is now a contender to be named the city’s greatest loss of value as distressed sales become the norm in Asia’s most expensive… Read More>>
Henderson Signs US Trader to Record Lease in Hong Kong Waterfront Project
Nearly four years after paying a record HK$50.8 billion (then $6.5 billion) for a waterfront site in Hong Kong’s Central district, Henderson Land Development has signed what it describes as the biggest lease deal in decades in the city’s traditional… Read More>>
Law Partner Picks Up Hong Kong Home of Former Birmingham City Boss for $37M
A protracted legal struggle has worked to the benefit of a veteran Hong Kong lawyer , but not in the usual way, as a Paul Hasting attorney recently picked up a villa on Hong Kong’s Victoria Peak confiscated from notorious… Read More>>
Hong Kong Tycoon Drops Price for Beachfront Complex by 25% as Fire Sale Heats Up
Hong Kong’s Gale Well Group has slashed the price for a beach villa complex in the city’s Southern District by 25 percent over the past four months, as the financially-troubled property investment firm seeks to accelerate asset disposals.
The owner… Read More>>
Hong Kong’s New World Delays Bond Payments Amid Struggle with $27B in Liabilities
China’s real estate crisis isn’t confined to the mainland anymore, with top-five Hong Kong builder New World Development announcing late Friday that it will defer payments on four sets of bonds due this month.
The decision to forgo paying $77… Read More>>
Former Chinachem CEO Donald Choi Named Managing Director of Hong Kong’s URA
The Hong Kong government on Thursday announced the hiring of former Chinachem CEO Donald Choi as managing director of the Urban Renewal Authority, with the appointment coming less than nine months after he stepped down from the helm of the… Read More>>
Hong Kong’s Link REIT Boosts Income 5.5%, Distributions Rise
Asia’s largest real estate investment trust grew its top line and boosted its distributions to investors in the 12 months ending 31 March, as operating performance continued to improve, according to financial results released on Tuesday.
Hong Kong’s Link REIT… Read More>>
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