Swire Pacific, which has made healthcare a key growth area, has completed the acquisition of a controlling stake in Shanghai-based cardiovascular treatment provider DeltaHealth.
The appetite of mainland Chinese firms for premium space was not enough to stem a steady increase in the vacancy rate as more office premises came online and overall demand shrank.
City must encourage retrofitting or replacement of old ‘carbon-hog’ buildings and accelerate adoption of construction materials with lower ‘embodied’ carbon, says World Green Building Council founder David Gottfried.
Company leaders pledge to marshal resources carefully in 2024 as they strike a cautious tone about any potential recovery.
Hongkongers are less willing to buy homes amid price increases at new launches by developers, analysts said after Great Eagle Holdings announced a new higher price list for another 150 units at its Onmantin project on Monday.
Louis Vuitton is returning to Times Square, three years after the French luxury brand shut its store, a sign of a brighter outlook for Hong Kong’s luxury retail market.
High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.
Buoyed by the brisk sales of flats following the removal of Hong Kong’s property cooling measures, the city’s developers have this year launched 4,800 new units as of last week, a seven-year high.
The measures effective from Monday range from the removal of restrictions on homebuyers to support for the funding needs of developers.
Rising demand for data centres is unlikely to provide relief for Hong Kong landlords and asset owners looking to convert their empty office spaces into industrial property, US asset manager PGIM Real Estate says.
All 260 flats on offer at Onmantin were already on Saturday after the project received 7,500 orders from prospective buyers.
Adriel Chan, 41, succeeds his father Ronnie Chan as chairman of Hang Lung Group, one of Hong Kong’s biggest commercial landlords.
Prices of second-hand homes have increased for the first time in almost a year as the recent removal of cooling measures gave a much-needed boost to the beleaguered property market.
The first 18 office units have been priced from HK$7.2 million to HK$22.7 million, or around HK$12,000 to HK$14,000 per square foot, NWD said in a statement on Thursday.
Hong Kong’s economic recovery is slowly filling up retail spaces, pushing vacancy rates to a three-year low. The rebound, however, is bypassing the northwestern part of the city in Yuen Long and Sheung Shui.
The mix of tenants in malls and at street level is changing as restaurateurs pounce on slumping rents to expand, often taking the spaces left behind by retailers forced to leave during the pandemic.
The comments by Chan showed how Hong Kong has been caught since 2019 by a series of turbulent events, including months of anti-government protests, US sanctions and a Covid-19 pandemic in its third year.
Upmarket home rents in Hong Kong and Shenzhen declined in the year’s first half, bucking the global trend of increases among 30 cities tracked by property consultancy Savills.
The owners of the iconic Hong Kong restaurant, previously a huge draw for tourists with its prime location, are now paying less than half the monthly HK$230,000 (US$29,300) they were forking out on a lease signed pre-pandemic.