The new owners of the Center on Hong Kong’s Queen’s Road are wasting no time in looking for a return on the investment, and their hopes for instant profits of up to 66 percent lead today’s real estate news in… Read More>>
CERCG Defaults on $350M Bond 7 Months After Leading Buyout of the Center
Just seven months after leading the $5.2 billion acquisition of the world’s most expensive building, a little-known Beijing energy firm has defaulted on a $350 million international bond, according to a filing to the Hong Kong Stock Exchange by the… Read More>>
Buyers of The Center Funding $5.2B Deal Via Bonds and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, buyers of the world’s most expensive building are confirmed to be selling bonds to institutional investors to fund the HK$40 billion purchase. The innovative bit of financial engineering reduces the number of lenders in the deal,… Read More>>
DBS Moves to Kwun Tong as SG Bank Cashes in on Hong Kong’s Red Hot Office Market
Singapore’s biggest bank is following the lead of US competitors Citibank and Goldman Sachs in moving its team out of Hong Kong’s Central district as office rents continue to rise in the core business area. For the Singaporean bank, the… Read More>>
World’s Most Expensive Office Tower Ready to Be Sold Off Floor By Floor
Nearly six months after Li Ka-shing’s CK Asset Holdings sold Hong Kong’s The Center skyscraper to a consortium of investors for HK$40.2 billion ($5.15 billion), the world’s most expensive office building is poised to be divvied up among its new owners… Read More>>
CBRE Hong Kong Taps Daniel Mok To Lead New Strata-Title Sales Team
CBRE Hong Kong is boosting its Capital Markets team by adding a new specialty group focussed on strata-title and mid-market sales, as individually owned commercial floors command record prices in the city.
The international brokerage has tapped Daniel Mok to lead… Read More>>
Goldman Leases Five Floors in Causeway Bay as Blue Chip Bank Balks at Central Rents
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>>
Center Buyer Said Selling Stake in $5.2B HK Office Tower to Hui Wing Mau, Pollyanna Chu
As China’s biggest investors were warned off from overseas deals last year and a crackdown on outbound cash killed off cross-border real estate acquisition, Hong Kong still seemed a safe-haven for mainland money. But nothing changes faster in 2018 than… Read More>>
HKMA Holds Firm on “Spicy” Policies and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, the city’s de facto central bank rejected calls from lawmakers to relax mortgage policies, saying the housing market is still too hot. Also in the headlines, even Hong Kong’s securities regulator may find… Read More>>