Hong Kong’s Mai Po wetlands are a magnet for diverse species of birds, but now this natural asset is once again under threat, this time from plans to build an IT hub for its Northern Metropolis.
A High Court in Hong Kong has adjourned the hearing on a winding-up petition against Country Garden to June 11, giving the developer more time to reorganise its finances as Beijing steps up efforts to revive the housing market.
Developer stocks rose on Thursday after authorities in Hangzhou announced plans to buy unsold homes, but analysts question whether such aid is the best way to rescue the market.
Hong Kong is missing out on an office investment boom in the Asia-Pacific region this year as a supply glut and high vacancy rates put investors off the segment, according to analysts.
Agile says it ‘will not be able to fulfil all payment obligations under its offshore debts’ because of liquidity pressure. Presales declined 68 per cent year on year to US$905 million from January to April.
The flagship developer of tycoon Li Ka-shing has slashed the price of some of the remaining flats at its project in the Northern Metropolis by almost a third compared with when it was first launched in 2021.
Hoka, the running shoe brand known for its thick soles, is opening two stores in Hong Kong this year as it ramps up its presence in Asia amid a fitness and health boom.
‘Beijing is finally on the right course to clean up the mess in the property sector,’ Nomura analysts said on Friday.
Developer puts another noncore asset on the chopping block to bolster its liquidity and appease creditors, part of its three-pronged strategy to overcome a financial crisis.
Shenzhen and Wuhan have become the latest Chinese cities to ease home purchase restrictions to boost sales, as a growing number of major metropolises take steps to support the country’s slumping property sector.
More than half of middle-income households in Hong Kong believe house prices are poised to rally now that all of the restrictions in the market have been scrapped, according to a survey by Citibank.
Mainland Chinese buyers account for anywhere from 30 per cent up to 80 per cent of the sales in some recent launches, agents say, raising hopes that their buying power will bring price stability to the market.
Temu, Shein, AliExpress and TikTok Shop boost the logistics-related property sector as they scramble to secure space to fuel their growth.
Sales of the units, which ranged from 340 sq ft to 783 sq ft at HK$18,597 to HK$28,350 per square foot, were suspended after a red rain signal on Saturday.
Hong Kong’s property transactions came close to a three-year high in April, with 9,880 units changing hands according to official data, as the removal of cooling measures continued to boost demand.
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.
A new wave of property stimulus measures is brewing that should fuel a recovery in market sentiment across China as the country’s top decision-makers pledged to tackle housing inventories, according to analysts.
The capital city has relaxed rules on multiple home purchases after 13 years as part of the country’s effort to stimulate a stubbornly stagnant property market.
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.
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.