Jone Mult Industrial Building. Photo: Google map
Banking & finance

Hong Kong’s ‘Shop King’ family continues asset selling spree with US$307 million sale

5 Dec 2023 - 6:10PM

The family of late “Shop King” Tang Shing-bor is raising HK$2.4 billion (US$310 million) by selling a hotel and a majority stake in an East Kowloon industrial building, continuing an asset selling campaign which began at the height of the Covid-19 pandemic in 2020.

Jone Mult Industrial Building. Photo: Google map

Hong Kong’s ‘Shop King’ family continues asset selling spree with US$307 million sale

The family of late “Shop King” Tang Shing-bor is raising HK$2.4 billion (US$310 million) by selling a hotel and a majority stake in an East Kowloon industrial building, continuing an asset selling campaign which began at the height of the Covid-19 pandemic in 2020.

5 Dec 2023 - 6:10PM

Hong Kong adjourns Evergrande’s liquidation hearing till January 29

Justice Linda Chan’s order came as a surprise as the judge had warned during the last hearing she was ‘highly likely’ to grant a winding-up order, if no restructuring plan was forthcoming by December 4.

4 Dec 2023 - 7:29PM

Why easing of Shenzhen housing market policies may lift sentiment but is limited

Homebuyers in Shenzhen have shown interest in upgrading their homes after the local government eased some policy measures, but expectations of lower incomes amid slower economic growth mean that people are still hesitant about big-ticket purchases.

4 Dec 2023 - 9:00AM
Evergrande Center building in Shanghai, China. Photo: AFP

Hong Kong adjourns Evergrande’s liquidation hearing till January 29

Justice Linda Chan’s order came as a surprise as the judge had warned during the last hearing she was ‘highly likely’ to grant a winding-up order, if no restructuring plan was forthcoming by December 4.

4 Dec 2023 - 7:29PM
China property

Why easing of Shenzhen housing market policies may lift sentiment but is limited

Homebuyers in Shenzhen have shown interest in upgrading their homes after the local government eased some policy measures, but expectations of lower incomes amid slower economic growth mean that people are still hesitant about big-ticket purchases.

Homebuyers in Shenzhen have shown interest in upgrading their homes after the local government eased some policy measures, but expectations of lower incomes amid slower economic growth mean that people are still hesitant about big-ticket purchases.

4 Dec 2023 - 9:00AM
International Property

Swire Properties touts luxury Jakarta project as foreign buyer curbs eased

Move by Jakarta to make it easier for foreigners to buy property in Southeast Asia’s largest economy is expected to boost sales for Swire Properties’ luxury joint venture project.

Move by Jakarta to make it easier for foreigners to buy property in Southeast Asia’s largest economy is expected to boost sales for Swire Properties’ luxury joint venture project.

3 Dec 2023 - 6:00PM

Sun Hung Kai’s biggest weekend sale since 2022 pays off on back of strong demand

About 90 per cent of flats on offer this weekend at Yoho West, a joint project between SHKP and MTR Corp, are expected to be sold, according to agency estimates.

2 Dec 2023 - 6:27PM
Sun Hung Kai’s biggest weekend sale since 2022 pays off on back of strong demand

China Evergrande bondholder group says bankruptcy is ‘value destructive’

An ad hoc group of creditors of Evergrande’s offshore unit has said it supports the management’s efforts to keep the embattled Chinese developer operational, ahead of a key court decision on Monday when the distressed developer faces the risk of a liquidation order

1 Dec 2023 - 8:03PM
China Evergrande bondholder group says bankruptcy is ‘value destructive’

Swire Properties touts luxury Jakarta project as foreign buyer curbs eased

Move by Jakarta to make it easier for foreigners to buy property in Southeast Asia’s largest economy is expected to boost sales for Swire Properties’ luxury joint venture project.

3 Dec 2023 - 6:00PM

Sun Hung Kai’s biggest weekend sale since 2022 pays off on back of strong demand

About 90 per cent of flats on offer this weekend at Yoho West, a joint project between SHKP and MTR Corp, are expected to be sold, according to agency estimates.

2 Dec 2023 - 6:27PM

China Evergrande bondholder group says bankruptcy is ‘value destructive’

An ad hoc group of creditors of Evergrande’s offshore unit has said it supports the management’s efforts to keep the embattled Chinese developer operational, ahead of a key court decision on Monday when the distressed developer faces the risk of a liquidation order

1 Dec 2023 - 8:03PM

Hongkongers snub new home sales in Yau Tong amid weakening real estate market

The Chill Residence development from Poly Property and L’Avenue International sold just 10 of 128 flats by Sunday afternoon.

The Chill Residence development from Poly Property and L’Avenue International sold just 10 of 128 flats by Sunday afternoon.

4 Dec 2022 - 8:56PM

Hong Kong home price forecasts too bearish, JP Morgan says

Predictions of a 30 per cent drop in Hong Kong home prices by the end of 2023, notably by Goldman Sachs, are too pessimistic, according to JP Morgan.

Predictions of a 30 per cent drop in Hong Kong home prices by the end of 2023, notably by Goldman Sachs, are too pessimistic, according to JP Morgan.

2 Dec 2022 - 10:54AM

Green buildings in Hong Kong command the highest rental premium in Asia: JLL

Grade A buildings in Hong Kong with green certification fetched rental premiums up to 28 per cent more because of limited supply, according to JLL’s Value of Sustainability report.

Grade A buildings in Hong Kong with green certification fetched rental premiums up to 28 per cent more because of limited supply, according to JLL’s Value of Sustainability report.

30 Nov 2022 - 7:30AM

Hongkongers snub new home sales in Yau Tong amid weakening real estate market

The Chill Residence development from Poly Property and L’Avenue International sold just 10 of 128 flats by Sunday afternoon.

The Chill Residence development from Poly Property and L’Avenue International sold just 10 of 128 flats by Sunday afternoon.

4 Dec 2022 - 8:56PM

Hong Kong home price forecasts too bearish, JP Morgan says

Predictions of a 30 per cent drop in Hong Kong home prices by the end of 2023, notably by Goldman Sachs, are too pessimistic, according to JP Morgan.

Predictions of a 30 per cent drop in Hong Kong home prices by the end of 2023, notably by Goldman Sachs, are too pessimistic, according to JP Morgan.

2 Dec 2022 - 10:54AM

Green buildings in Hong Kong command the highest rental premium in Asia: JLL

Grade A buildings in Hong Kong with green certification fetched rental premiums up to 28 per cent more because of limited supply, according to JLL’s Value of Sustainability report.

Grade A buildings in Hong Kong with green certification fetched rental premiums up to 28 per cent more because of limited supply, according to JLL’s Value of Sustainability report.

30 Nov 2022 - 7:30AM

Property Spotlight

Property | OPINION
Agencies advertising lower property prices are seen in Quarry Bay, Hong Kong, on November 2. Photo: Elson LI

Opinion | Why now is the best time to buy Hong Kong property in 15 years

Property prices are down and long-term demand is healthy as the Greater Bay Area develops and more mainlanders settle in Hong Kong. Residents with long-term plans can purchase property now without too much competition from overseas investors.

5 Dec 2023 - 9:30AM

The View | Market correction can’t keep Asian investors from London property

Asian buyers have spotted opportunities to acquire London assets at a critical moment – the price correction is entering its final stage and competition from other buyers will intensify when central banks start to loosen policy.

Asian buyers have spotted opportunities to acquire London assets at a critical moment – the price correction is entering its final stage and competition from other buyers will intensify when central banks start to loosen policy.

13 Nov 2023 - 5:37PM
Market correction can’t keep Asian investors from London property

The View | Hong Kong housing market will avoid crisis despite current pain

Hong Kong’s real estate market has endured five years of steady upheaval and shocks, with domestic and global factors adding to the strain. Even so, the outlook is not all doom and gloom as risks to financial stability are manageable and the downturn has inspired much-needed reforms.

Hong Kong’s real estate market has endured five years of steady upheaval and shocks, with domestic and global factors adding to the strain. Even so, the outlook is not all doom and gloom as risks to financial stability are manageable and the downturn has inspired much-needed reforms.

30 Oct 2023 - 3:34PM
Hong Kong housing market will avoid crisis despite current pain

The View | China’s economy is bottoming out, but that’s no reason to cheer

Despite encouraging third-quarter data, it is preposterous to expect any kind of meaningful recovery when the property sector is crumbling. The economy will continue bumping along the floor until new growth drivers offset the drag from the downturn in property and related industries.

Despite encouraging third-quarter data, it is preposterous to expect any kind of meaningful recovery when the property sector is crumbling. The economy will continue bumping along the floor until new growth drivers offset the drag from the downturn in property and related industries.

23 Oct 2023 - 3:30PM
China’s economy is bottoming out, but that’s no reason to cheer

Opinion | Why a property crash could be good for China

The wealth redistribution would benefit ordinary families, boost consumption and rebalance the economy. Crucially, China has the tools to minimise the short-term pain needed to achieve this.

The wealth redistribution would benefit ordinary families, boost consumption and rebalance the economy. Crucially, China has the tools to minimise the short-term pain needed to achieve this.

11 Oct 2023 - 3:30PM
Why a property crash could be good for China
Private homes in the River Valley and Orchard area of Singapore are seen on July 9, 2022. Last year, private property prices in the city-state grew 8.6 per cent, compared with 10.6 per cent in 2021. Photo: Bloomberg

The View | Singapore, Seoul and Japan: Asia’s property market trend-defiers

Singapore’s housing market and South Korea’s grade A office market are outperforming most others. Japan, meanwhile, is benefiting from efforts to relocate supply chains away from China.

9 Oct 2023 - 8:30PM
Home buyers leave their residential compound through a hole in a wall, at the unfinished Gaotie Wellness City complex in Tongchuan, Shaanxi province, on September 12. China is likely to continue to roll out measures to support the property sector, but there’s a difference between stimulating and stabilising. Photo: Reuters

The View | A stimulus-fuelled China property rebound is just not on the cards

Continuing economic pessimism and recent policy measures to shore up the property sector are feeding hopes that a massive boost is yet to come. Investors are underestimating China’s determination to cut its reliance on property asset inflation for growth, and turn instead to technology and high-end manufacturing.

25 Sep 2023 - 3:30PM