A pair of aging buildings in Hong Kong’s Tsim Sha Tsui area have been seized from the family of the city’s late “Shop King” Tang Shing-bor and are being offered for sale at less than half of what the clan… Read More>>
Project Completions Boost Hong Kong Office Leasing Deals as Vacancy Hits 13.1%
Tenants in Hong Kong’s Grade A office market took up 137,000 square feet (12,728 square metres) more than they gave back in March, with leasing demand driven by occupiers realising pre-commitments at newly completed projects, according to JLL.
The citywide… Read More>>
Vantage Data Centers Marketing Hong Kong Portfolio as Security Moves Centre Stage
Just over one month after Hong Kong passed a new national security law banning unlawful acquisition, possession or disclosure of information deemed to be state secrets, one of the US’ largest data centre operators is looking to sell its facilities… Read More>>
Hong Kong Accounting Watchdog Launches Probe of PwC Role at Evergrande
Hong Kong regulators have opened an investigation into PricewaterhouseCoopers and its relationship with China Evergrande, with the inquiry coming on the heels of reports that mainland authorities are probing PwC’s role in dodgy bookkeeping at the bankrupt developer.
The Accounting… Read More>>
Banks Chase Cheung Kei Boss for $200M in Overdue Loan Payments
Mainland tycoon Chen Hongtian has received demands from a pair of banks to repay more than HK$1.6 billion ($200 million) in overdue loans and interest charges, according to a media account, as liquidators continue to market global properties linked to… Read More>>
Lai Sun Selling 10% Stake in $2.2B Hong Kong Office Building to AIA
Hong Kong-listed builder Lai Sun Development has agreed to sell its 10 percent stake in the AIA Central office building in Hong Kong’s Central district to AIA Group in return for HK$1.4 billion ($181.5 million) in cash, plus assumption of… Read More>>
New World’s Cheng Family Ousts Giordano Boss in Hong Kong Fashion Battle
The Cheng family of Hong Kong’s New World Development and Chow Tai Fook jewelry stores has succeeded in ousting the chief executive and chairman of Giordano International, pushing through new leadership for the fashion retailer at a special general meeting… Read More>>
Goldman, KaiLong Selling Hong Kong Commercial Building for $89M
Goldman Sachs and Hong Kong’s Kailong Group have sold a newly developed commercial building near Central for around $33 million less than they paid to acquire the site seven years ago, as property values in the Asian financial hub continue… Read More>>
Central Rents Down 2.4% in February as Hong Kong Office Tenants Give Back More Space
Office rents in Hong Kong’s prime Central district fell 2.4 percent in February from month-earlier levels as tenants citywide gave back more Grade A space than they took up, according to JLL.
The overall market recorded a negative net absorption… Read More>>
Hong Kong Hotels Neared Pre-COVID Levels With 93.4% Holiday Occupancy
Hong Kong hotels achieved an average room occupancy rate of 93.4 percent during February’s eight-day Chinese New Year holiday, just 0.4 points below the rate recorded during the same period in 2019 before the COVID-19 pandemic, according to CBRE.
The… Read More>>
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