Hong Kong’s Central has rents so high that even a $900 billion investment bank has decided to flee the city’s traditional business district. Goldman Sachs is said to be moving its back office staff to a new location three metro… Read More>>
New World Buys Up HK$700M Stake in TST Building and More Hong Kong Real Estate Headlines
Leading today’s headlines, New World Development has acquired over half of the ownership of a building on Hankow Road in Kowloon’s Tsim Sha Tsui commercial district for HK$700 million ($89 million) as the city’s major developers continue to snatch up… Read More>>
City Weighs Tax Deduction for Renters and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, the city’s financial chief said the government is mulling tax sweeteners to make housing a bit more affordable for renters. Also in the headlines, the Hong Kong Stock Exchange will be moving its… Read More>>
Land Rush Spurs HK$138B City Budget Surplus and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, last year’s bumper crop of land sales helped fuel a budget surplus of HK$138 billion ($17.6 billion) — and Hong Kong’s wealthy land owners will be reassured that this too will work in… Read More>>
Airbnb China Chief Checks Out After 4 Months and More Asia Real Estate Headlines
Another US unicorn appears to be stumbling in the China market, as room-sharing giant Airbnb announces a sudden leadership shift in its mainland unit today. Elsewhere in the headlines, developer Hysan adds yoga spaces to its latest office projects and… Read More>>
Mandarin Oriental Said Offered Record $3.8B for Excelsior Hotel
The Mandarin Oriental Hotel group has begun to receive offers for the Excelsior Hotel in Hong Kong’s Causeway Bay, with at least five bids reportedly valuing the four-star waterfront property at HK$30 billion ($3.8 billion).
If the 848-room Excelsior is… Read More>>
Mainland Demand Boosts Central Office Rents to New Record – Mingtiandi Hong Kong Office Index
Average grade A office rents in Hong Kong’s Central district climbed to historical highs in the second quarter, driven by escalating demand from mainland Chinese firms.
The average cost for renting a square foot of grade A space… Read More>>
HKRI and Hysan Team Up For $437M Site in HK’s Tai Po
In another sign that Hong Kong’s new stamp duty may not have a large impact on the housing market, Strongbod Limited, a joint venture between HKR International and Hysan Development, submitted a winning bid of HK$3.39 billion ($437 million) to… Read More>>
China Home Prices Rise for 15th Consecutive Month and More Asia Real Estate Headlines
Among the biggest stories as we kick off August is the strong performance of China’s residential market, where sales rose again in July. That upswing helped some mainland developers to announce better than expected sales, while their Hong Kong counterparts… Read More>>
Greater China Real Estate People in the News 2016-06-13
An Aussie-based logistics developer looks to go pan-Asian with a new hire in Singapore, a veteran office expert expands into residential in Hong Kong, and a former broker of the year gets some recognition at one of the international agencies…. Read More>>