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Hang Lung Properties, formerly Amoy Properties and part of the Hang Lung Group, is a headquartered in Hong Kong and a constituent stock in the blue chip Hang Seng Index. Hang Lung Properties Ltd was incorporated in 1949 and was taken over by Hang Lung Group in 1980. It became the property investment arm of Hang Lung Group Ltd after the group re-organisation in 1987. The company is led by Ronnie Chan.
- The mall in West Nanjing Road, Jingan district, will have an additional gross floor area of 32,290 sq ft when it is complete in 2026
- China is set to overtake the US as the world’s biggest luxury market, worth US$148 billion, in 2030, according to a PwC report
Hong Kong developer Hang Lung named Adriel Chan to succeed his father Ronnie Chan as its chairman, at a time when the real estate market is coming under more pressure and home prices are at a seven-year low.
Net profit rose to HK$2.39 billion (US$306 million) in the first half, while total revenue dropped 1 per cent even as mall revenue rebounded. Still, ‘plenty of uncertainties’ persist, both domestically and internationally, company says.
The minister’s comment came at the of the first day of the 10th edition of a two-day conference attended by more than 3,500 delegates of 23 different nationalities.
While some international cities that are well-equipped with hotels and airports are ‘artificial’ and ‘super boring’, Hong Kong is also ‘full of charm’, says Ronnie Chan Chi-chung of Hang Lung Properties.
Hong Kong needs to look beyond the East and the West, and go anywhere “if there is money to be made”, including the Middle East, Hang Lung Properties Chairman Ronnie Chan says.
As in the years from 1997 to 2003, a struggling housing market, slowing economy and surging interest rates are making the debt levels of the city’s home builders a cause for concern.
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.
Areas to the east of the Huangpu River – including the Pudong New Area where about 5.7 million people live – come out of their lockdown on Thursday night. The second stage starts on Friday, and will see Puxi, to the west of the Huangpu River, shut down for four days.
Commerce chief Edward Yau says government has sent a list of needed supplies to Chinese authorities to fight escalating outbreak.
The billionaire chairman of Hang Lung Properties said the city’s measures, which include strict social distancing rules and a lengthy quarantine period, make life difficult for businesses.
With nearly 500 flats on offer on Saturday, Hong Kong marked its biggest weekend sale for homebuyers since September.
The brisk take-up reflects improving sentiment among homebuyers as Hong Kong inched closer towards quarantine-free travel to mainland China.
The ultra luxury project on will only have five to six houses, each measuring 10,000 sq ft, with sweeping views of Deep Water Bay, says CEO Weber Lo.
The national security law and electoral reforms meant laws aimed at increasing the amount of land available for development now faced an easier path to approval, according to the outspoken property tycoon.
Hong Kong has approved the sale of one of the United States government’s most valuable assets in the city to local developer Hang Lung Properties, after the US state department obtained permission from Beijing.
The snag is akin to a water-down version of freezing US assets in Hong Kong, said Kevin Tsui, associate professor in the John E. Walker department of economics at Clemson University in South Carolina. “They can use it, but they cannot sell it,” he said.
Facing a dismal Christmas shopping period at home, some Hong Kong developers are trying to woo big spenders to their upmarket malls in mainland China with extravagant festive displays.
In abolishing the double stamp duty, the government is trying to breathe life into a market where transactions never surpassed 10,000 in any year since.
With zero revenue from venue rental and local political divides, Asia Society Hong Kong finds itself in unknown territory as it reaches its 30th anniversary.
“It’s very surprising that the US [government] is willing to sell at this price,” said Vincent Cheung, managing director at Vincorn Consulting and Appraisal.
Financial and property stocks weigh on the Hang Seng Index as Hong Kong prepares for more Covid-19 cases. Aerospace stocks power the Shanghai bourse, adding to its best gain in 17 months in July.
As Hong Kong shut most of its border checkpoints with mainland China to stop the coronavirus outbreak from spreading in the city, the dearth of visitors is upending the local retail industry
HSBC and Standard Chartered are lowering their key prime rates in Hong Kong for the first time since November 2008 to support local businesses, renewing pressure on margins in a city that has crashed into recession.
At least eight of SHKP’s malls have had to remain shut for days, including World Trade Centre in Causeway Bay and New Town Plaza in Sha Tin.
Protests result of ‘unwise policies made locally and not initiated by Beijing’, Hang Lung Properties chairman Ronnie Chan said. Unrest in the city ‘cannot but negatively affect business’.
Second-phase expansion of Hong Kong’s only full-scale outlet mall in Tung Chung will add new cinemas, dining and shopping amenities
Chan said he supported a proposal to reclaim land in five locations, as his company Hang Lung Properties announced a slump in profit on lower sales
