Hong Kong needs to be more proactive in striving for development opportunities and injecting some momentum into its economy, Hong Kong Monetary Authority CEO Eddie Yue tells an economic summit.
Hong Kong and Thailand to accept each other’s real-time payment systems, which link traditional banks and electronic payment and digital wallet operators, in a bid to promote digital transformation and boost local business prospects.
Sun Hung Kai Properties, Hong Kong’s largest property developer by market capitalisation, will on Saturday launch its biggest weekend sales since July 2022 for a new project in Tin Shui Wai.
The futures are expected to support greater international participation in China’s equities and fixed-income markets, and further broaden investment and risk-management opportunities in Hong Kong, HKEX said.
Conroy Cheng, Chow Tai Fook’s vice-chairman and nephew of Henry Cheng, said there was no discord or disputes in the family over succession plans following an interview by the patriarch last week.
The seizure of the two properties on Black’s Link, The Peak, is another setback for the founder of China Evergrande, which faces a winding-up hearing in Hong Kong on December 4.
Smith will succeed Robert Wong, who has been Hongkong Land’s CEO since 2016. Wong will stay on as a senior adviser to ensure a smooth leadership transition.
Budget retailer delivered its best quarter so far, with record sales, earnings and store openings, billionaire founder Ye Guofu says.
The agreement with Saudi’s central bank is the 30th currency swap signed by the People’s Bank of China over the past decade, as China picked up the pace of the yuan’s worldwide usage.
Rebates serve as a price-adjustment tool for property developers under existing industry regulation, according to JLL Hong Kong’s Joseph Tsang.
Hong Kong developers will continue to work with Midland Realty, a leading real estate agency in the city, which recently became embroiled in an alleged sales-commission-fixing scandal, an apex body of the city’s real estate companies said on Wednesday.
DHL Express has unveiled a HK$3.2 billion (US$409.7 million) expansion of its hub in Hong Kong, in a show of confidence in the city’s position as an international logistics centre.
Industry experts criticise basement car parks as vulnerable to flooding and fire, but others say moving away from above-ground car parks has improved Hong Kong’s urban environment.
The property magnate and Chinese Estates founder says high interest rates are forcing businesspeople to recalculate their investments and potential returns. ‘It’s better to hold on to the money now.’
MTR Corp has failed to attract any conforming tender to develop a site known as Tung Chung Town Lot No 53, despite many expressions of interest from potential bidders.
The sector needs more smart technology to thrive and maintain the city’s status as an international trade centre, experts say ahead of the annual Asian Logistics, Maritime and Aviation Conference.
Builders hope to clear inventory amid an uptick in market sentiment after the relaxation of some stamp duties, but will need low prices to draw buyers in an overall negative environment, consultants say.
Buyers snapped up only five of 129 available units on Friday at a Tseung Kwan O project, despite 15 per cent discounts. Nonetheless, agents expect more activity in the fourth quarter as developers try to clear ‘leftovers’.
Hong Kong’s sliding home prices have snared more mortgage borrowers in negative equity as the market value of their properties decreases at a faster rate than their loan balances, according to the latest data from the monetary authority.
The government’s estimate of potential supply has increased by 12,000 so far this year, but is not likely to equate to actual home completions as developers delay launches and slow construction, analysts say.
High interest rates, new supply and economic uncertainties continue to pressure Hong Kong property prices even though the government’s recent measures could provide a boost to transaction volumes.
Since the border reopened, Hongkongers, particularly retirees, have started to think once again about buying property in the bay area, say analysts. The falling yuan and a slew of measures to boost the market are making the prospect more attractive.
Hong Kong’s luxury home market, grappling with lower economic activity in mainland China, elevated global interest rates and higher mortgage costs, could be disappointed at this week’s policy speech by the city’s chief executive.
We look at the impact of the policy and monetary moves since 2009 to cool home prices. Now, stakeholders want the government to roll these back. But will that have the desired effect?
New home prices in China struggled to recover in September, with consumers showing their confidence in top-tier cities like Beijing and Shanghai. The market will face an extended L-shaped outlook, S&P Global says.
The war of words over the unusual manoeuvre underscores how Hong Kong’s property industry is grappling to regain its footing after the end of a decade-long bull run.
Thirty companies have been shortlisted out of more than 1,000 start-ups taking part in the Jumpstarter 2023 Global Pitch Competition.
Global brands are taking up some retail space to make their presence felt and reconnect with consumers after the pandemic. That will help stabilise the vacancy rate in the local commercial property market.
The Hong Kong government will tender only a single parcel of land in the current quarter, as sales have been scaled down because of poor response and prevailing market conditions.