https://www.scmp.com/rss/112961/feed 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. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Peggy Ye Peggy Ye Hang Lung Properties has unveiled its flagship Hangzhou development with a noticeably lighter luxury mix, signalling a pivot towards lifestyle and experience-led retail as consumer tastes in mainland China evolve. Westlake 66, located in Hangzhou’s Wulin central business district, spans about 390,000 square metres (4.2 million sq ft) and comprises a 105,900 square metres shopping mall, five prime office towers and a 194-room Mandarin Oriental hotel slated to open in 2027. “Hangzhou has a highly... https://www.scmp.com/business/article/3352125/hong-kongs-hang-lung-trims-gloss-turn-experience-hangzhou-debut?utm_source=rss_feed https://www.scmp.com/business/article/3352125/hong-kongs-hang-lung-trims-gloss-turn-experience-hangzhou-debut?utm_source=rss_feed Mon, 04 May 2026 00:00:14 +0000 Peggy Ye Peggy Ye Global flexible workspace operator WeWork is expanding in Hong Kong as companies scale back long-term office commitments, opening its fifth site in Causeway Bay to tap rising demand for short-term, flexible space amid economic and geopolitical uncertainty. The new location at Soundwill Plaza II Midtown, owned by Soundwill Holdings, was previously occupied by another co-working operator. WeWork secured the site after competing with several rivals. “In the current uncertain market outlook,... https://www.scmp.com/business/companies/article/3351036/wework-finds-new-lease-life-hong-kong-global-uncertainty-drives-demand?utm_source=rss_feed https://www.scmp.com/business/companies/article/3351036/wework-finds-new-lease-life-hong-kong-global-uncertainty-drives-demand?utm_source=rss_feed Wed, 22 Apr 2026 13:00:15 +0000 Julie Zhang Julie Zhang Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, sold all 350 units released on Sunday in its Sierra Sea project, marking a fifth consecutive sell-out and underscoring returning buyer appetite in the world’s most expensive property market. The batch at phase 2B included 244 two-bedroom and 106 three-bedroom units, with discounted prices ranging from HK$4.6 million (US$590,000) to HK$9.74 million, according to sales documents released on Wednesday. The... https://www.scmp.com/business/companies/article/3341986/hong-kongs-shkp-rolls-out-350-sierra-sea-flats-after-sell-outs-worlds-priciest-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3341986/hong-kongs-shkp-rolls-out-350-sierra-sea-flats-after-sell-outs-worlds-priciest-market?utm_source=rss_feed Sun, 01 Feb 2026 09:00:12 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developer Hang Lung Properties is pinning its medium-term outlook on a recovery in mainland Chinese consumption, even as it warned that both the city’s and China’s property markets remain under strain. The commercial landlord, residential developer and hotel owner said it expected a “tough slog” for the broader sector despite signs of improvement in operating conditions, particularly in the second half of the year. Net profit attributable to shareholders fell 16 per cent to HK$1.8... https://www.scmp.com/business/article/3341858/hang-lung-flags-tough-slog-property-it-looks-mainland-malls-growth?utm_source=rss_feed https://www.scmp.com/business/article/3341858/hang-lung-flags-tough-slog-property-it-looks-mainland-malls-growth?utm_source=rss_feed Fri, 30 Jan 2026 11:08:14 +0000 Christine Loh Christine Loh Net-zero commitments are now commonplace across Hong Kong’s property sector. Many major developers have announced targets for 2030 and 2050, often framed around energy efficiency, renewable energy and greener buildings. This is welcome. However, as climate ambition becomes the norm, a more uncomfortable question comes into focus: how many of these commitments are grounded in a serious understanding of what decarbonisation actually entails? What remains largely missing from Hong Kong’s climate... https://www.scmp.com/opinion/hong-kong-opinion/article/3339817/hong-kong-needs-ask-hard-questions-about-its-net-zero-challenge?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3339817/hong-kong-needs-ask-hard-questions-about-its-net-zero-challenge?utm_source=rss_feed Fri, 16 Jan 2026 21:30:08 +0000 Zhu Wenqian Zhu Wenqian Shanghai’s luxury retail market is set to become increasingly competitive, fuelled by a citywide shift as prime malls embrace experiential concepts to differentiate themselves. Hong Kong developer Hang Lung Properties on Friday said that it had secured a 20-year lease for the No 1038 West Nanjing Road commercial project – formerly known as Meilong Town – in partnership with Shanghai Join Buy Group. The project would be transformed into a mixed-use complex integrating retail, hospitality and... https://www.scmp.com/business/article/3336280/hong-kong-developers-lead-evolution-shanghais-retail-scene-new-malls-concepts?utm_source=rss_feed https://www.scmp.com/business/article/3336280/hong-kong-developers-lead-evolution-shanghais-retail-scene-new-malls-concepts?utm_source=rss_feed Sun, 14 Dec 2025 03:30:14 +0000 Cao Li Cao Li In a central Wuhan shopping centre, a banner for a new Pop Mart hangs where an Air Jordan store once stood. When the store famous for the wildly popular Labubu figures opens early next year, it will sit next to a Tiffany & Co boutique and across from a Prada shop on the ground floor – space traditionally reserved for high-end purveyors of apparel, jewellery and cosmetics. The mall in the capital of central China’s Hubei province is not an isolated case. Pop Mart and fellow makers of collectible... https://www.scmp.com/business/china-business/article/3331948/how-chinas-emotional-spending-trend-transforming-shopping-malls?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331948/how-chinas-emotional-spending-trend-transforming-shopping-malls?utm_source=rss_feed Mon, 10 Nov 2025 01:30:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developer Hang Lung Properties expects the city’s retail sector to remain sluggish this year amid a prolonged industry slump, while an unresolved tariff war with the US keeps businesses and consumers in mainland China in limbo. “The recent trade disputes and escalating restrictions between the US and China have created uncertainties in the global economy,” chairman Adriel Chan said in a statement after reporting weak first-half results on Wednesday. This could stall interest-rate cuts,... https://www.scmp.com/business/article/3320173/hang-lung-earnings-drop-14-developer-flags-risks-tariff-war-interest-rates?utm_source=rss_feed https://www.scmp.com/business/article/3320173/hang-lung-earnings-drop-14-developer-flags-risks-tariff-war-interest-rates?utm_source=rss_feed Wed, 30 Jul 2025 11:37:33 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks fell by the most in nearly three weeks as China’s deflationary trend became more entrenched, deepening concerns about the nation’s growth prospects. At the close on Wednesday, the Hang Seng Index dropped 1.1 per cent to 23,892.32, its most substantial loss since June 19, while the Hang Seng Tech Index retreated 1.8 per cent. On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index lost 0.1 per cent. Henderson Land Development slumped 8.6 per cent... https://www.scmp.com/business/china-business/article/3317479/hong-kong-stocks-fall-worries-about-chinas-deflationary-pressure?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3317479/hong-kong-stocks-fall-worries-about-chinas-deflationary-pressure?utm_source=rss_feed Wed, 09 Jul 2025 02:29:37 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks slumped by the most in two months after the Federal Reserve flagged an increasing tariff-induced inflation risk for the economy while the conflict in the Middle East disrupted global oil supply. The Hang Seng Index tumbled 2 per cent to 23,237.74 on Thursday to mark the worst sell-off since the 13 per cent drop on April 7 when US President Donald Trump announced the so-called reciprocal tariffs. All but nine of the 85 index members dropped. The Hang Seng Tech Index lost 2.4 per... https://www.scmp.com/business/china-business/article/3314996/hong-kong-stocks-slide-2-week-low-fed-sees-inflation-risk-amid-middle-east-tensions?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3314996/hong-kong-stocks-slide-2-week-low-fed-sees-inflation-risk-amid-middle-east-tensions?utm_source=rss_feed Thu, 19 Jun 2025 02:27:27 +0000 Sumnima Kandangwa Sumnima Kandangwa Hygge Having doled out, as the Danish name suggests, Scandinavian “cosiness” since 2022 in Tseung Kwan O, this comfortable cafe-restaurant has now opened a larger second location, in Tai Kok Tsui. Settled into its calming interiors, diners can expect Hygge’s signature crêpes and pizzas, as well as baked herring en papillote, pan-fried gnocchi in green sauce and even a Chiuchow abalone risotto. The coffee and dessert menus round out the warming experience for soul as much as stomach. 28 Pok Man... https://www.scmp.com/postmag/food-drink/article/3312066/hottest-new-openings-hong-kong-may-25-june-1?utm_source=rss_feed https://www.scmp.com/postmag/food-drink/article/3312066/hottest-new-openings-hong-kong-may-25-june-1?utm_source=rss_feed Wed, 28 May 2025 04:45:12 +0000 Cheryl Arcibal Cheryl Arcibal Weak consumer confidence in mainland China and Hong Kong is unlikely to improve any time soon, but Hang Lung Properties aims to emerge as a winner amid industry consolidation by providing better ambience and more diverse choices for its tenants and shoppers, according to its CEO. “We have to improve ourselves and make sure that our offering is relevant,” said Weber Lo, the Hong Kong builder’s CEO. “We always want to bring new ideas and new experiences to our customers, and that is the key.” The... https://www.scmp.com/business/article/3296491/hong-kong-developer-hang-lung-diversifies-amid-consumer-challenges?utm_source=rss_feed https://www.scmp.com/business/article/3296491/hong-kong-developer-hang-lung-diversifies-amid-consumer-challenges?utm_source=rss_feed Tue, 28 Jan 2025 00:30:08 +0000 Salina Li Salina Li Hong Kong developer Hang Lung Properties’ 2024 earnings slumped 45.8 per cent from a year earlier due to lower operating leasing profits and higher finance costs. The company’s net profit attributable to shareholders fell to HK$2.1 billion (US$269.7 million) from HK$3.97 billion a year earlier, which included a net revaluation loss on some properties, according to a statement to the Hong Kong stock exchange on Friday. Overall rental revenue fell 6 per cent to HK$9.52 billion. Rental revenue from... https://www.scmp.com/business/article/3296114/hang-lung-properties-profit-slumps-46-lower-leasing-profits-higher-finance-costs?utm_source=rss_feed https://www.scmp.com/business/article/3296114/hang-lung-properties-profit-slumps-46-lower-leasing-profits-higher-finance-costs?utm_source=rss_feed Fri, 24 Jan 2025 06:45:20 +0000 Eric Ng Eric Ng The construction industry needs to see faster progress on regulations and pilot programmes to boost the uptake of low-carbon materials and technology to accelerate the sector’s decarbonisation in Hong Kong and mainland China, according to Hang Lung Properties. “The policy environment matters a lot, because we can only rely on the industries to move things so far so fast,” said John Haffner, deputy director of sustainability at the developer, which is active in Hong Kong and the... https://www.scmp.com/business/climate-and-energy/article/3290661/hang-lung-pushes-faster-decarbonisation-hong-kong-and-chinas-construction-industry?utm_source=rss_feed https://www.scmp.com/business/climate-and-energy/article/3290661/hang-lung-pushes-faster-decarbonisation-hong-kong-and-chinas-construction-industry?utm_source=rss_feed Sun, 22 Dec 2024 02:00:10 +0000 Salina Li Salina Li Hong Kong developer Hang Lung Properties reported a 56 per cent slump in net profit for the first half because of lower operating leasing profits and higher finance costs. The shares sank as much as 15.2 per cent, the most in 24 years, before erasing some losses to close 11.7 per cent lower at HK$5.42. The stock has lost more than 85 per cent since reaching a record high of HK$40.30 in November 2020. Net profit attributable to shareholders came in at HK$1.06 billion (US$135.7 million) in the six... https://www.scmp.com/business/article/3272451/hang-lung-properties-profit-sinks-56-amid-hong-kong-mainland-china-slowdown?utm_source=rss_feed https://www.scmp.com/business/article/3272451/hang-lung-properties-profit-sinks-56-amid-hong-kong-mainland-china-slowdown?utm_source=rss_feed Tue, 30 Jul 2024 07:29:18 +0000 Hong Kong stocks declined on Friday to register the biggest weekly loss since January, as investors turned more defensive after a four-month rally. Key Asian markets also fell as strong US economic readings dampened rate cut optimism. The Hang Seng Index fell 1.4 per cent to 18,608.94 at the closing of Friday trading, the fourth straight day of declines that took the benchmark to a two-week low. The Tech Index tumbled 2.5 per cent, while Shanghai Composite Index lost 0.9 per cent. All but eight... https://www.scmp.com/business/banking-finance/article/3263884/hong-kong-stocks-retreat-further-investors-turn-defensive-after-3-month-rally?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3263884/hong-kong-stocks-retreat-further-investors-turn-defensive-after-3-month-rally?utm_source=rss_feed Fri, 24 May 2024 02:50:40 +0000 Hong Kong developer Hang Lung Properties is targeting discerning Chinese consumers’ penchant for luxury goods as it prepares to undertake the expansion of its flagship mall in Shanghai, according to a top executive. The expansion of Plaza 66, which houses the Shanghai flagship stores of Hermes and Dior, will focus on high-end luxury and bring new experiences to customers and stores that are completely new to China, said Janice Cheung Lam-na, director of mainland business operations at Hang... https://www.scmp.com/business/article/3259812/hong-kong-developer-hang-lung-eyes-chinas-booming-luxury-market-it-expands-flagship-shanghai-mall?utm_source=rss_feed https://www.scmp.com/business/article/3259812/hong-kong-developer-hang-lung-eyes-chinas-booming-luxury-market-it-expands-flagship-shanghai-mall?utm_source=rss_feed Sun, 21 Apr 2024 22:00:39 +0000 Hong Kong property developer Hang Lung has named Adriel Chan to succeed his father Ronnie Chan as its chairman, at a challenging time for the city’s real estate market with home prices falling for a second year to the lowest level in seven years. Hang Lung Group and its 60 per cent-owned unit Hang Lung Properties said in separate filings to the stock exchange that Ronnie Chan Chi-chung, 74, will retire from his position as chairman on April 26. Ronnie Chan said he had spent over a decade... https://www.scmp.com/business/companies/article/3250324/hong-kong-property-conglomerate-hang-lung-unveils-change-guard-its-helm-no-major-strategic-changes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3250324/hong-kong-property-conglomerate-hang-lung-unveils-change-guard-its-helm-no-major-strategic-changes?utm_source=rss_feed Tue, 30 Jan 2024 12:19:02 +0000 Hong Kong developer Hang Lung Properties said it has a ‘fair chance’ of achieving a record year as it reported a 23 per cent profit increase for the six months to June 30, although it warned that international and domestic risks to its business persist. Net profit rose to HK$2.39 billion (US$306 million) in the first half of the year, compared with HK$1.95 billion in the same period last year, while total revenue dropped 1 per cent to HK$5.23 billion, according to an exchange filing on... https://www.scmp.com/business/china-business/article/3229475/hong-kong-developer-hang-lung-properties-reports-23-cent-profit-growth-first-half-warns-clouds?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3229475/hong-kong-developer-hang-lung-properties-reports-23-cent-profit-growth-first-half-warns-clouds?utm_source=rss_feed Mon, 31 Jul 2023 07:53:06 +0000 Saudi Arabia’s Investment Minister Khalid A. Al-Falih called for more investments from mainland China and Hong Kong in a closed-door meeting in Riyadh with a business delegation led by Hang Lung Properties’ chairman Ronnie Chan Chi-chung. The minister, meeting the group after a gala dinner on the first day of the 10th Arab-China Business Conference (ACBC) on Sunday, expressed his hope to see the development of economic and human relationships between Saudi Arabia and China. He also expressed his... https://www.scmp.com/business/article/3223849/saudi-minister-calls-people-people-exchanges-china-businesses-kick-tires-do-due-diligence-enhance?utm_source=rss_feed https://www.scmp.com/business/article/3223849/saudi-minister-calls-people-people-exchanges-china-businesses-kick-tires-do-due-diligence-enhance?utm_source=rss_feed Mon, 12 Jun 2023 14:15:43 +0000 While some international cities that are well-equipped with hotels and airports are “artificial” and “super boring”, Hong Kong is also “full of charm”, which makes it a favourable destination for wooing talent and wealth from across the world, said Ronnie Chan Chi-chung, chairman of Hang Lung Properties. Hong Kong’s unique advantages, such as its strategic location, its role in the Greater Bay Area (GBA), its government and its “moneymaking genes” make it a natural choice for families and family... https://www.scmp.com/business/money/article/3215728/hong-kongs-moneymaking-genes-help-it-trump-charmless-frankfurt-la-and-singapore-says-tycoon-ronnie?utm_source=rss_feed https://www.scmp.com/business/money/article/3215728/hong-kongs-moneymaking-genes-help-it-trump-charmless-frankfurt-la-and-singapore-says-tycoon-ronnie?utm_source=rss_feed Mon, 03 Apr 2023 02:00:17 +0000 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 said on Tuesday. The city would “miss the boat” if it continues to just do what it has done for the past 20 to 50 years. “Globalisation is – for this round – coming to an end. Deglobalisation is happening,” he said. “It won’t be a total decoupling. But nonetheless, there’ll be some decoupling. In which case, Hong Kong as an... https://www.scmp.com/business/article/3208624/hong-kong-should-look-beyond-east-and-west-go-middle-east-if-there-money-be-made-hang-lung-chief?utm_source=rss_feed https://www.scmp.com/business/article/3208624/hong-kong-should-look-beyond-east-and-west-go-middle-east-if-there-money-be-made-hang-lung-chief?utm_source=rss_feed Tue, 31 Jan 2023 12:36:45 +0000 Raymond Cheng, managing director of CGS-CIMB Securities, has a sense of déja vu. With Hong Kong’s housing market struggling, interest rates soaring and buying power faltering amid a slowing economy, the worrisome debt levels of property developers are in the spotlight. The same was true in the years just before Cheng became an analyst in 2003. “At that time, they could not make profits from home sales. Certain developers had tight financials, and most made little profit,” he said. “Generally,... https://www.scmp.com/business/article/3198460/hong-kongs-property-developers-will-struggle-service-their-bulging-debts-interest-rates-soar?utm_source=rss_feed https://www.scmp.com/business/article/3198460/hong-kongs-property-developers-will-struggle-service-their-bulging-debts-interest-rates-soar?utm_source=rss_feed Sat, 05 Nov 2022 02:00:11 +0000 Hang Lung Properties, the first developer to post interim results during Hong Kong’s reporting season, warned of turbulent times ahead for the real estate market as the city increasingly finds itself caught in deteriorating relations between the United States and China. “The US-China relationship is going to trump everything,” Hang Lung’s chairman Ronnie Chan Chi-chung said during the China Conference: Hong Kong organised by South China Morning Post. “Let’s not underestimate the madness with... https://www.scmp.com/business/article/3186941/hang-lungs-chairman-warns-turbulent-times-ahead-hong-kongs-real-estate?utm_source=rss_feed https://www.scmp.com/business/article/3186941/hang-lungs-chairman-warns-turbulent-times-ahead-hong-kongs-real-estate?utm_source=rss_feed Thu, 28 Jul 2022 12:05:17 +0000 Hong Kong developer Kerry Properties, which owns two shopping malls in Shanghai, said it is looking at ways to support its tenants and alleviate the impact of the city’s lockdown. “We recognise this is a very challenging time in Shanghai for everyone,” the home builder said in an email to the Post. “We are currently looking at the best way to support each of our tenants, which potentially include a number of initiatives from rent relief to other forms of assistance depending on their individual... https://www.scmp.com/business/article/3172557/shanghai-lockdown-hong-kong-developers-kerry-and-hang-lung-looking-ways?utm_source=rss_feed https://www.scmp.com/business/article/3172557/shanghai-lockdown-hong-kong-developers-kerry-and-hang-lung-looking-ways?utm_source=rss_feed Thu, 31 Mar 2022 09:00:15 +0000 Hong Kong authorities have turned to mainland China to gather large amounts of necessary Covid-19 supplies, a minister has said, while donations from the private sector have poured in amid an escalating fifth wave of coronavirus infections. Secretary for Commerce and Economic Development Edward Yau Tang-wah, who heads a government task force overseeing medical supplies, said on Friday that local authorities had sent a list of resources to the central government, including personal protective... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3168456/coronavirus-hong-kong-turns-mainland-china-private?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3168456/coronavirus-hong-kong-turns-mainland-china-private?utm_source=rss_feed Fri, 25 Feb 2022 13:04:20 +0000 Property tycoon Ronnie Chan has urged the government to rethink Hong Kong’s tough stance on Covid-19 as the highly infectious Omicron variant appears to produce milder symptoms than its counterparts. 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 extremely difficult for businesses. He compared the severity of the Omicron strain of the coronavirus to influenza. “It seems Omicron is... https://www.scmp.com/business/article/3164976/property-tycoon-ronnie-chan-urges-hong-kong-government-rethink-tough-covid?utm_source=rss_feed https://www.scmp.com/business/article/3164976/property-tycoon-ronnie-chan-urges-hong-kong-government-rethink-tough-covid?utm_source=rss_feed Thu, 27 Jan 2022 11:42:39 +0000 Hong Kong homebuyers snapped up 145 flats of nearly 500 units offered by five major developers as of 6pm on Saturday, marking the city’s biggest weekend sale since September in terms of number of flats up for grabs. Henderson Land sold out all 50 flats on offer at its Caine Hill development within five hours after sales started. This project, located in Sai Ying Pun, on the western part of Hong Kong Island, had received more than 500 registrations of interest, which translates to about 10 bids... https://www.scmp.com/business/article/3160248/hong-kong-homebuyers-snap-third-500-flats-offered-five-developers-citys?utm_source=rss_feed https://www.scmp.com/business/article/3160248/hong-kong-homebuyers-snap-third-500-flats-offered-five-developers-citys?utm_source=rss_feed Sat, 18 Dec 2021 11:43:29 +0000 Hong Kong’s homebuyers snapped up a collection of flats on offer over the weekend in Kowloon Bay, shrugging off higher prices as they piled into the area’s newest supply of private homes in decades. Hang Lung Properties sold 78 of the first batch of 100 flats at its new project, The Aperture at 8pm, agents said. The flats had received nearly 1,500 registrations of interest, translating to about 15 bids for every available unit on average. The flats on sale ranged from one-bedroom units to... https://www.scmp.com/business/article/3159351/homebuyers-snap-aperture-flats-hang-lung-piling-first-new-homes-launch?utm_source=rss_feed https://www.scmp.com/business/article/3159351/homebuyers-snap-aperture-flats-hang-lung-piling-first-new-homes-launch?utm_source=rss_feed Sat, 11 Dec 2021 12:48:44 +0000 Hang Lung Properties plans to start construction by the end of this year on one of Hong Kong’s most luxurious projects on the former site of US consulate residences on Shouson Hill Road. Last September, the Hong Kong-listed developer, led by billionaire Ronnie Chan Chi-chung, picked up the parcel at 37 Shouson Hill Road on which six multistorey villas stood for HK$2.56 billion (US$330 million), or HK$54,138 per square foot. “We won’t squeeze too many flats on the site, which is quite small;... https://www.scmp.com/business/companies/article/3148663/hang-lung-start-construction-shouson-hill-road-ultra-luxury?utm_source=rss_feed https://www.scmp.com/business/companies/article/3148663/hang-lung-start-construction-shouson-hill-road-ultra-luxury?utm_source=rss_feed Tue, 14 Sep 2021 23:30:19 +0000 Hong Kong’s red-hot property market is likely to return to more measured growth now that the government faces less opposition to boosting land supply in a Legislative Council dominated by pro-government lawmakers, according to one of the city’s most influential property tycoons. Ronnie Chan Chi-chung, the outspoken chairman of Hang Lung Properties, said the passing of the contentious national security law last year and sweeping electoral reforms meant laws aimed at increasing the amount of land... https://www.scmp.com/business/article/3143033/hong-kongs-home-prices-will-cool-down-pro-government-legco-gets-increase?utm_source=rss_feed https://www.scmp.com/business/article/3143033/hong-kongs-home-prices-will-cool-down-pro-government-legco-gets-increase?utm_source=rss_feed Thu, 29 Jul 2021 10:47:11 +0000 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 transaction, a multimillion-dollar thorn in the side of US-China relations, was confirmed by Hang Lung on Thursday, which said the seller had fulfilled diplomatic protocols and “now with the consent from the Central People’s Government of China, the transaction will proceed”. A US... https://www.scmp.com/business/article/3122232/sale-us-governments-shouson-hill-road-property-proceeds-after-beijing?utm_source=rss_feed https://www.scmp.com/business/article/3122232/sale-us-governments-shouson-hill-road-property-proceeds-after-beijing?utm_source=rss_feed Thu, 18 Feb 2021 12:00:12 +0000 One of Hong Kong’s biggest real estate transactions of 2020 has been caught in the crossfire of souring US-China diplomatic relations, as the United States consulate failed to get its sale of luxury villas on The Peak recognised by the city’s Land Registry. The HK$2.6 billion (US$330 million) sale on September 10 of six multi-storey villas at 37 Shouson Hill Road could not be registered by Hong Kong’s Land Registry because of “diplomatic obligations” imposed by the Chinese government on the US... https://www.scmp.com/business/companies/article/3115806/hang-lungs-hk256-billion-purchase-us-governments-37-shouson-hill?utm_source=rss_feed https://www.scmp.com/business/companies/article/3115806/hang-lungs-hk256-billion-purchase-us-governments-37-shouson-hill?utm_source=rss_feed Wed, 30 Dec 2020 05:28:47 +0000 Hong Kong developers, facing a dismal Christmas shopping period at home, have pulled out all the stops to woo big spenders to their upmarket malls in mainland China with huge, vibrant festive displays and decorations. While their shopping centres in cities like Shanghai are decked out with enormous, colourful Christmas trees, bright lights and themed entertainment – much of it sponsored by famous luxury brands – the picture is rather more subdued in Hong Kong where a fourth wave of the deadly... https://www.scmp.com/business/china-business/article/3115137/hong-kongs-embattled-retail-landlords-bet-their-mainland?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3115137/hong-kongs-embattled-retail-landlords-bet-their-mainland?utm_source=rss_feed Thu, 24 Dec 2020 02:00:18 +0000 Hong Kong’s commercial and industrial property transactions more than quadrupled in value this month, helped by Swire Properties’ sale of Cityplaza One, as deals increased in anticipation of the government’s move to scrap a double stamp duty for commercial real estate. The value of property bought and sold jumped to HK$13.74 billion (US$1.77 billion) for 318 deals in the first 22 days of November, from HK$2.62 billion for 208 transactions in the same period last year, according to data by... https://www.scmp.com/business/article/3111121/buyers-and-sellers-return-hong-kongs-commercial-real-estate-anticipation?utm_source=rss_feed https://www.scmp.com/business/article/3111121/buyers-and-sellers-return-hong-kongs-commercial-real-estate-anticipation?utm_source=rss_feed Wed, 25 Nov 2020 00:30:18 +0000 Thirty years ago, two internationally minded tycoons opened a Hong Kong branch of the Asia Society, a purely New York-based institution at the time, just when official dialogue between the West and China had ceased following Beijing’s bloody crackdown on pro-democracy protesters in Tiananmen Square in 1989. The mission of the original Asia Society, founded in 1956 by a scion of the Rockefeller family, was to educate Americans about Asia. The Hong Kong centre’s mission was quite different. Late... https://www.scmp.com/lifestyle/arts-culture/article/3109784/what-does-future-hold-asia-society-hong-kong-under-pressure?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3109784/what-does-future-hold-asia-society-hong-kong-under-pressure?utm_source=rss_feed Sat, 14 Nov 2020 02:15:11 +0000 Hang Lung Properties, led by a billionaire developer who frequently calls for dialogue between the United States and China, has stepped in to pick up the US government’s residential real estate asset in Hong Kong with a discount, just as US-China relations deteriorated to their worst in decades. The Hong Kong developer, which mainly develops shopping centres and offices, confirmed that it had won a closed tender for six multi-storey buildings at 37 Shouson Hill Road for HK$2.56 billion (US$330... https://www.scmp.com/business/money/money-news/article/3100957/hang-lung-picks-us-governments-hong-kong-mansions-hk256?utm_source=rss_feed https://www.scmp.com/business/money/money-news/article/3100957/hang-lung-picks-us-governments-hong-kong-mansions-hk256?utm_source=rss_feed Thu, 10 Sep 2020 04:01:55 +0000 Hong Kong stocks retreated amid heightening concerns about Covid-19 infections and renewed pressure on banking stocks, while mainland China equities, particularly of aerospace companies, advanced on hopes for domestic recovery. The Hang Seng Index fell 0.6 per cent to 24,458.13 on Monday, after logging in two straight months of advance. The Shanghai Composite Index jumped 1.8 per cent to 3,367.97. It rallied 11 per cent in July, the most since February 2019. Financial and property stocks dragged... https://www.scmp.com/business/markets/article/3095742/hong-kong-stocks-slip-mainland-equities-add-best-gain-17-months?utm_source=rss_feed https://www.scmp.com/business/markets/article/3095742/hong-kong-stocks-slip-mainland-equities-add-best-gain-17-months?utm_source=rss_feed Mon, 03 Aug 2020 02:37:21 +0000 The Hong Kong government has stumbled from one crisis to another, and its handling of the coronavirus public health emergency has laid bare the incompetence, insensitivity and lack of preparedness of those who, in theory, lead what they boast to be “Asia’s world city”.  With public trust in the Carrie Lam administration hollowed out following months of bruising anti-government protests in 2019, there has been a considerable display of resourcefulness, resilience and solidarity among the public... https://www.scmp.com/comment/opinion/article/3051646/big-business-stepping-where-hong-kong-government-has-fallen-short?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3051646/big-business-stepping-where-hong-kong-government-has-fallen-short?utm_source=rss_feed Fri, 21 Feb 2020 22:30:07 +0000 Zhang Zisheng has stopped shopping in Hong Kong. The 24-year-old salesman no longer feels welcome, even if his home in Jiangmen is a mere 90-minutes’ ride away on the high-speed rail, and he speaks the same Cantonese as Hong Kong’s residents. “I’m worried that I, as a mainland Chinese visitor, may be physically attacked” in Hong Kong amid the city’s anti-government protests, which have taken on a nativist slant in recent months against visitors coming across the southern Chinese border, Zhang... https://www.scmp.com/business/companies/article/3050684/what-future-hong-kongs-luxury-retailers-chinas-big-spenders?utm_source=rss_feed https://www.scmp.com/business/companies/article/3050684/what-future-hong-kongs-luxury-retailers-chinas-big-spenders?utm_source=rss_feed Sat, 15 Feb 2020 02:30:07 +0000 Hong Kong’s three largest banks are lowering their prime rates for the first time in 11 years to support local businesses. The cuts are likely to renew pressure on their margins at an awkward time, as the city’s economy shrank deeper than expected and slipped into its first technical recession in a decade. HSBC, Standard Chartered Bank and Bank of China (Hong Kong), the city’s three currency issuers, will all cut their best lending rate by 12.5 basis points, taking their cues from a... https://www.scmp.com/business/companies/article/3035775/hong-kongs-biggest-banks-find-themselves-vice-they-cut-rates?utm_source=rss_feed https://www.scmp.com/business/companies/article/3035775/hong-kongs-biggest-banks-find-themselves-vice-they-cut-rates?utm_source=rss_feed Thu, 31 Oct 2019 13:00:14 +0000 Sun Hung Kai Properties, which owns 12 million sq ft of retail space in Hong Kong, said it will waive rents and other expenses on days its shopping centres remain closed because of the protests. Hong Kong’s largest developer by market value has had to close some of its shopping centres for days, especially on weekends because of the protests, as rampaging mobs damaged public and private property. “Although this was meant to protect the safety of customers, businesses and staff, SHKP decided to... https://www.scmp.com/business/companies/article/3033089/sun-hung-kai-offers-relief-struggling-retailers-plans-waive?utm_source=rss_feed https://www.scmp.com/business/companies/article/3033089/sun-hung-kai-offers-relief-struggling-retailers-plans-waive?utm_source=rss_feed Tue, 15 Oct 2019 13:08:05 +0000 Hang Lung Properties chairman Ronnie Chan Chi-chung said the “unwise policies” of Hong Kong’s government had contributed to an atmosphere that sparked protests and civil unrest and are now threatening the city’s business community. Chan, who is a supporter of Chief Executive Carrie Lam Cheng Yuet-ngor and her predecessor Leung Chun-ying, said the unrest “cannot but negatively affect business” and reduce “confidence among the international business community”. “In the past month and a half, the... https://www.scmp.com/business/companies/article/3027057/hong-kongs-unwise-policies-fuelled-protests-unrest-city-hang?utm_source=rss_feed https://www.scmp.com/business/companies/article/3027057/hong-kongs-unwise-policies-fuelled-protests-unrest-city-hang?utm_source=rss_feed Fri, 13 Sep 2019 03:52:09 +0000 Citygate Outlets, the city’s only full scale outlet mall in Tung Chung, will open its phase two development next month, in an expansion that will bolster shopping, dining and entertainment amenities, raising the mall’s appeal as a destination for families. The second phase, on track to open 20 years after initial development, will include the addition of four movie houses with a total capacity of 650 seats, a doubling of existing dining options, and additional luxury and casual... https://www.scmp.com/property/hong-kong-china/article/3019668/citygate-outlets-set-become-more-family-friendly-second?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3019668/citygate-outlets-set-become-more-family-friendly-second?utm_source=rss_feed Tue, 23 Jul 2019 00:30:11 +0000 Land reclamation is the key to tackling the housing crisis that has made Hong Kong the world’s most expensive property market, according to tycoon Ronnie Chan Chi-chung. “Otherwise, it will be difficult to solve the land shortage problem in Hong Kong,” he said after his company Hang Lung Properties announced a slump in first-half profit on Monday. But he stressed he would oppose any reclamation work in Victoria Harbour.Reclaiming land an unavoidable part of Hong Kong’s future, Carrie Lam says as... https://www.scmp.com/business/companies/article/2157522/land-reclamation-key-solving-hong-kongs-housing-woes-says-tycoon?utm_source=rss_feed https://www.scmp.com/business/companies/article/2157522/land-reclamation-key-solving-hong-kongs-housing-woes-says-tycoon?utm_source=rss_feed Mon, 30 Jul 2018 13:01:14 +0000 Hong Kong developers Shui On Land and Hongkong Land are vying for a prime plot of land in central Shanghai, a move that underscores the rising appeal of China’s top cities among overseas companies. Two companies have entered the final stage of bidding for the land, according to a statement posted on the official Shanghai Land Market website on Monday. The statement did not disclose the competing companies’ names and said the final results would be released 10 working days later. Huaihai Road is... https://www.scmp.com/property/hong-kong-china/article/2148592/hong-kong-developers-finalists-battle-us21-billion-site?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2148592/hong-kong-developers-finalists-battle-us21-billion-site?utm_source=rss_feed Thu, 31 May 2018 04:57:39 +0000 Hang Lung is paying 10.7 billion yuan (US$1.7 billion) for a parcel of prime commercial land in Hangzhou in eastern China – the Hong Kong firm’s first mainland purchase in five years. The land is believed to be the most expensive plot for commercial project development in the capital city of affluent Zhejiang province, and one of Hang Lung’s priciest ever mainland acquisitions. Total investment of 19 billion yuan is earmarked for the planned project, a large-scale commercial mixed-use complex,... https://www.scmp.com/business/companies/article/2148188/hang-lung-snaps-prime-hangzhou-plot-us17b?utm_source=rss_feed https://www.scmp.com/business/companies/article/2148188/hang-lung-snaps-prime-hangzhou-plot-us17b?utm_source=rss_feed Mon, 28 May 2018 22:15:47 +0000 Hang Lung Properties will spend HK$40 million (US$5.1 million) renovating two of its shopping malls in Hong Kong’s bustling Mong Kok area in a bid to enhance rental income in a fast-changing retail landscape. Bella Chhoa, director of leasing and management at Hang Lung Properties, said the improvements will be carried out over the next two years and will include refurbishment of the facades, lift lobbies and car park exit. It is the latest in a series of “asset enhancements” the retail landlord... https://www.scmp.com/property/hong-kong-china/article/2139042/hang-lung-spend-hk40-million-mall-upgrades-woo-mong-koks?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2139042/hang-lung-spend-hk40-million-mall-upgrades-woo-mong-koks?utm_source=rss_feed Tue, 27 Mar 2018 03:39:08 +0000 Hong Kong’s mall operators are going out of their way – from assisting start-ups in effectively executing their plans to offering them vast amounts of space – to accommodate and cultivate tenants that offer experiential consumption opportunities amid changing consumer tastes. According to Katherine Lo, general manager of leasing and management at Hang Lung Properties, customers nowadays are looking for new and varied experiences when they go shopping. “We have to keep enhancing our tenant mix,... https://www.scmp.com/business/companies/article/2125424/hong-kong-malls-test-experiential-concepts-sustain-traffic-battle?utm_source=rss_feed https://www.scmp.com/business/companies/article/2125424/hong-kong-malls-test-experiential-concepts-sustain-traffic-battle?utm_source=rss_feed Sun, 24 Dec 2017 01:15:37 +0000 Fast fashion chain H&M is estimated to contribute 10 per cent of Hang Lung Properties’ rental income in Hong Kong this year but the developer faces a decline in retail rents in the mainland, Morgan Stanley says. The US investment bank estimated the developer’s rental income in Hong Kong would edge up 4 per cent to HK$3.7 billion this year. H&M alone would boost Hang Lung Hong Kong rental income by 3 per cent, it said. The Swedish fast fashion chain opened two outlets at two shopping malls owned... https://www.scmp.com/property/article/1909689/hm-expected-account-10-cent-hang-lung-properties-rental-income-hong-kong?utm_source=rss_feed https://www.scmp.com/property/article/1909689/hm-expected-account-10-cent-hang-lung-properties-rental-income-hong-kong?utm_source=rss_feed Mon, 08 Feb 2016 02:01:01 +0000