https://www.scmp.com/rss/117394/feed Hysan Development is a property investment, management and development company with extensive properties in Causeway Bay, where the company is the largest commercial landlord. It listed on the Hong Kong Stock Exchange in 1981. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, reported a 36.2 per cent year-on-year jump in first-half net profit to HK$10.25 billion (US$1.3 billion). Revenue rose 32 per cent to HK$52.7 billion for the six months ended December from a year earlier, while operating income increased 10.7 per cent to HK$13.4 billion, the developer said in a filing to the Hong Kong stock exchange on Thursday. Underlying profit, which discounts property revaluations, gained... https://www.scmp.com/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed https://www.scmp.com/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed Thu, 26 Feb 2026 10:23:04 +0000 Gloria Tso Gloria Tso Amanda Cheung – entrepreneur, philanthropist and entertaining conversationalist – is quickly jotting down notes and sketching out mind maps when I catch up with her on an average Wednesday afternoon. The born-and-raised Hongkonger is managing director of the charity First Initiative Foundation (FIF), established in 2010 by her mother, jewellery designer and philanthropist Michelle Ong. Cheung seems to talk – and think – with her hands, as if an endless stream of thoughts and ideas is at her... https://www.scmp.com/magazines/style/people/icons-influencers/article/3344294/amanda-cheung-reimagining-philanthropy-nightlife-and-heritage?utm_source=rss_feed https://www.scmp.com/magazines/style/people/icons-influencers/article/3344294/amanda-cheung-reimagining-philanthropy-nightlife-and-heritage?utm_source=rss_feed Mon, 23 Feb 2026 07:15:08 +0000 Denise Tsang Denise Tsang When Kevin Ng Shu-keung inspected the mock-up of a curved glass panel in 2019 to be mass-produced for the facade of The Henderson, a grade A commercial tower in Hong Kong, he was shocked to discover its flaws. The geometrically complex glass panels had never been used in Hong Kong before and his team had to put them through rounds of tests and trials at a residential construction site in Sham Shui Po, said Ng, senior deputy general manager of project management at property giant Henderson... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3341155/henderson-among-3-buildings-hong-kong-win-major-design-awards?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3341155/henderson-among-3-buildings-hong-kong-win-major-design-awards?utm_source=rss_feed Sun, 25 Jan 2026 07:49:39 +0000 Peggy Ye Peggy Ye Morgan Stanley upgraded Hong Kong’s property sector to “attractive”, noting that an all-round improvement in the city’s economy and a policy-driven recovery will continue to push prices higher this year. The US investment bank forecast home prices to rise around 10 per cent in 2026, with further gains expected in 2027, pointing out that the ongoing rebound marks the start of a new upcycle. “We expect all three sub-segments – Hong Kong residential prices, Central office rents and retail rents –... https://www.scmp.com/business/article/3338864/morgan-stanley-lifts-hong-kong-property-attractive-rebound-extend-2027?utm_source=rss_feed https://www.scmp.com/business/article/3338864/morgan-stanley-lifts-hong-kong-property-attractive-rebound-extend-2027?utm_source=rss_feed Tue, 06 Jan 2026 09:28:15 +0000 Cheryl Arcibal Cheryl Arcibal A nephew of the late Hong Kong shipping tycoon Y.K. Pao has bought a HK$75 million (US$9.6 million) luxury flat in Repulse Bay, continuing a trend among the city’s wealthy buyers who have been snapping up high-end homes in recent months. Crosspark Limited, an entity linked to Raymond Pao Lun-kwok, bought the 2,491 sq ft, four-bedroom flat in Grand Garden in the affluent Southern district on December 8, according to the Land Registry. The previous owner paid HK$80 million in 2018, the records... https://www.scmp.com/business/article/3336577/hong-kong-shipping-barons-nephew-buys-us96-million-flat-repulse-bay?utm_source=rss_feed https://www.scmp.com/business/article/3336577/hong-kong-shipping-barons-nephew-buys-us96-million-flat-repulse-bay?utm_source=rss_feed Tue, 16 Dec 2025 04:08:20 +0000 Cheryl Arcibal Cheryl Arcibal A director at Jackeline Beauty Salon – the Hong Kong chain made famous by its “no acne” ads – has bought a HK$152.27 million (US$19.58 million) Ho Man Tin duplex, underscoring renewed appetite for prime homes among the city’s wealthy. The executive, Huang Yating, took possession of a 25th- and 26th-floor duplex unit in Tower 3 of Phase 2 of the Ultima development on Fat Kwong Street on Tuesday, according to Land Registry records. Measuring 2,681 sq ft, the duplex has five bedrooms, according to... https://www.scmp.com/business/article/3334266/no-acne-salon-boss-snaps-us1958-million-ho-man-tin-duplex-luxury-deals-rebound?utm_source=rss_feed https://www.scmp.com/business/article/3334266/no-acne-salon-boss-snaps-us1958-million-ho-man-tin-duplex-luxury-deals-rebound?utm_source=rss_feed Thu, 27 Nov 2025 00:30:07 +0000 Cheryl Arcibal,Themis Qi Cheryl Arcibal,Themis Qi A company associated with Vincent Gao Leyi, the founder of Hong Kong-based hedge fund CoreView Capital, has bought a luxury home in the city’s Southern district for about HK$579 million (US$74.3 million), according to official records. Matrix Properties was identified as the buyer of House 6 at the upscale development No 15 Shouson Hill in one of the city’s most exclusive enclaves, Land Registry documents showed. According to the Companies Registry, Gao serves as a director of Matrix Properties... https://www.scmp.com/business/companies/article/3333521/hong-kong-hedge-fund-founder-buys-luxury-home-shouson-hill-us743-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3333521/hong-kong-hedge-fund-founder-buys-luxury-home-shouson-hill-us743-million?utm_source=rss_feed Thu, 20 Nov 2025 07:17:32 +0000 Salina Li Salina Li Charles Tong Chi-kar, the vice-chairman and executive director of Tomson Group, has bought a HK$112 million (US$14.4 million) home in Mid-Levels West, joining a growing number of affluent buyers who are increasingly confident in Hong Kong’s residential market. Sold for HK$48,060 per square foot, the 2,335 sq ft four-bedroom unit at The Legacy, developed by Henderson Land, was handed over to Tong on Monday, according to the Land Registry. Tomson Group, known for its luxurious Tomson Riviera... https://www.scmp.com/business/companies/article/3332446/tomson-groups-charles-tong-buys-us144-million-hong-kong-home-amid-luxury-market-surge?utm_source=rss_feed https://www.scmp.com/business/companies/article/3332446/tomson-groups-charles-tong-buys-us144-million-hong-kong-home-amid-luxury-market-surge?utm_source=rss_feed Wed, 12 Nov 2025 06:30:44 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong is riding a 10-month high in transactions involving upmarket real estate deals, with former chairman and CEO of Alibaba Group Holding Zhang Yong joining the wave after purchasing a luxury home in Mid-Levels for HK$53.54 million (US$6.89 million). In the first 20 days of October, 78 first-hand private residential sales priced between HK$30 million and HK$49.99 million were registered, according to Land Registry data. “This represents a 24 per cent increase from the 63 transactions for... https://www.scmp.com/business/article/3330471/hong-kong-sees-10-month-high-upscale-home-sales-former-alibaba-ceo-joining-wave?utm_source=rss_feed https://www.scmp.com/business/article/3330471/hong-kong-sees-10-month-high-upscale-home-sales-former-alibaba-ceo-joining-wave?utm_source=rss_feed Mon, 27 Oct 2025 09:28:47 +0000 Salina Li Salina Li Buyers connected to Hong Kong property developer Great Eagle Holdings have bought another home in the New Territories after snapping up dozens of units across the city in recent months. The 773 sq ft three-bedroom unit at Grand Mayfair II in Kam Tin South, developed by China Overseas, Sino Land and K Wah, was sold for HK$11.99 million (US$1.54 million), or HK$15,510 per square foot, and handed over to Rising Thrive on October 2, according to Land Registry records. Alexander Lo Chun-him, Kan... https://www.scmp.com/business/article/3328506/hong-kong-developer-great-eagles-executives-jointly-acquire-us15-million-flat?utm_source=rss_feed https://www.scmp.com/business/article/3328506/hong-kong-developer-great-eagles-executives-jointly-acquire-us15-million-flat?utm_source=rss_feed Fri, 10 Oct 2025 07:05:41 +0000 Salina Li Salina Li The son of former financial secretary Henry Tang Ying-yen has bought property in Kowloon, joining a growing number of affluent buyers snapping up homes in Hong Kong amid improving confidence in the residential market. Two connected units at Wheelock Properties’ Kadoorie Hill luxury project were sold for HK$36.4 million (US$4.7 million) each and handed over on October 3, according to the Land Registry. The flats were bought through two entities, Jumbo Bridge and Risking Sky. William Harry Tang... https://www.scmp.com/business/article/3328109/henry-tangs-son-buys-2-flats-wheelocks-kadoorie-hill-boost-property-market?utm_source=rss_feed https://www.scmp.com/business/article/3328109/henry-tangs-son-buys-2-flats-wheelocks-kadoorie-hill-boost-property-market?utm_source=rss_feed Tue, 07 Oct 2025 08:06:49 +0000 Yulu Ao Yulu Ao Hysan Development sold three units at its Bamboo Grove luxury complex in Hong Kong’s Mid-Levels for a total of HK$133 million (US$17 million), two of which were bought by the company’s chairwoman Irene Lee Yun-lien’s son, Nicolas Hugh Ingram, while the third was acquired by the wife of non-executive director Lee Chien. The transactions, disclosed by the company on Friday, are expected to yield a total gain of about HK$49.3 million for the developer. The proceeds would be allocated for general... https://www.scmp.com/business/companies/article/3327868/hysan-sells-hong-kongs-bamboo-grove-flats-worth-hk133-million-lee-family-members?utm_source=rss_feed https://www.scmp.com/business/companies/article/3327868/hysan-sells-hong-kongs-bamboo-grove-flats-worth-hk133-million-lee-family-members?utm_source=rss_feed Sat, 04 Oct 2025 07:00:08 +0000 Cheryl Arcibal Cheryl Arcibal Mandarin Oriental International said on Tuesday it was in discussions regarding the potential sale of a portion of its prime mixed-use building, One Causeway Bay, in one of Hong Kong’s top retail and business hubs. The company, which operated 43 assets worldwide as of June, said negotiations were ongoing but “there can be no certainty that any sale will proceed, nor as to the terms on which such a sale might be made”. “A further announcement will be made if and when appropriate,” it said. A... https://www.scmp.com/business/article/3327369/mandarin-oriental-confirms-talks-sell-top-floors-new-one-causeway-bay-tower?utm_source=rss_feed https://www.scmp.com/business/article/3327369/mandarin-oriental-confirms-talks-sell-top-floors-new-one-causeway-bay-tower?utm_source=rss_feed Tue, 30 Sep 2025 08:30:14 +0000 Morning Studio editors Morning Studio editors Under the stewardship of chairman Irene Lee, Hysan Development is redefining urban sustainability and community in Hong Kong. Anchored by a century-old legacy, Lee’s leadership is driving the transformation of Causeway Bay with a future-focused vision and a “Core and Pillars” strategy that set new benchmarks for urban evolution in Hong Kong. By spearheading the development of Hysan’s Lee Gardens area, Lee is ensuring the company retains its strong foundation in Hong Kong while addressing the... https://www.scmp.com/native/business/topics/building-hysans-legacy/article/3317723/building-century-vision-irene-lees-leadership-hysan-development?utm_source=rss_feed https://www.scmp.com/native/business/topics/building-hysans-legacy/article/3317723/building-century-vision-irene-lees-leadership-hysan-development?utm_source=rss_feed Mon, 14 Jul 2025 02:00:11 +0000 Cheryl Arcibal Cheryl Arcibal High-end office assets in Hong Kong’s Causeway Bay neighbourhood are expected to draw greater interest from large multinational companies that are seeking to expand in the city, in a boost to the sluggish property market. Following Jane Street Asia’s record-setting HK$30.6 million (US$3.9 million) a month lease for a 223,437 square foot space in Henderson Land’s New Central Harbourfront project in Central, one veteran deal-maker said Causeway Bay was expected to see Hong Kong’s next major office... https://www.scmp.com/business/article/3316264/high-end-office-properties-causeway-bay-lure-major-global-tenants-jll-says?utm_source=rss_feed https://www.scmp.com/business/article/3316264/high-end-office-properties-causeway-bay-lure-major-global-tenants-jll-says?utm_source=rss_feed Sun, 29 Jun 2025 07:32:33 +0000 Cheryl Arcibal Cheryl Arcibal The trend of companies offering flexible working arrangements to retain their top talent, far from a pandemic-era fad, is now a permanent fixture of the office property market, according to International Workplace Group (IWG). In addition, global economic uncertainty was shaping office-space demand, driving companies away from being tied to traditional office leases, said Marc Descrozaille, CEO for Middle East, Africa and Asia-Pacific with the Switzerland-headquartered flex-desk service... https://www.scmp.com/business/article/3308080/hong-kongs-largest-flex-office-provider-seeks-deals-vacant-office-landlords?utm_source=rss_feed https://www.scmp.com/business/article/3308080/hong-kongs-largest-flex-office-provider-seeks-deals-vacant-office-landlords?utm_source=rss_feed Sun, 27 Apr 2025 05:30:54 +0000 This year marks a major historical milestone for Hysan – more than a century since visionary pioneer Lee Hysan bought his first major plot of land in East Point, now known as Causeway Bay. The remarkable transformation from a narrow piece of land to a world-renowned commercial district owes much to Lee Hysan, whose vision was to create a new residential and commercial precinct catering to a growing and increasingly prosperous population. In commemoration of the company’s milestones and... https://www.scmp.com/native/business/topics/hysan-celebrates-centenary/article/3294513/hong-kongs-hysan-celebrates-more-century-shaping-citys-growth?utm_source=rss_feed https://www.scmp.com/native/business/topics/hysan-celebrates-centenary/article/3294513/hong-kongs-hysan-celebrates-more-century-shaping-citys-growth?utm_source=rss_feed Wed, 15 Jan 2025 07:37:45 +0000 Cheryl Arcibal,Salina Li Cheryl Arcibal,Salina Li Hong Kong developers are likely to report weak earnings this year and next despite recent stimulus measures, as the commercial market prepares for a supply glut and residents seek to splurge either on the mainland or overseas, according to ratings agency Moody’s. The forecast comes a week after Chief Executive John Lee Ka-chiu unveiled a more liberal mortgage-financing policy, which added to the optimism that was sparked by global central banks starting to raise interest rates. The less than... https://www.scmp.com/business/article/3283577/hong-kong-developers-ck-asset-sun-hung-kai-swire-feel-earnings-pain-moodys?utm_source=rss_feed https://www.scmp.com/business/article/3283577/hong-kong-developers-ck-asset-sun-hung-kai-swire-feel-earnings-pain-moodys?utm_source=rss_feed Thu, 24 Oct 2024 00:30:08 +0000 Bloomberg Bloomberg Prada is renting an 8,000 sq ft store in K11 Musea, a harbourfront luxury shopping centre by New World Development, people familiar with the matter said. Construction work for the two-floor store will begin soon and it is expected to open early next year, said the people, who asked not to be identified discussing private matters. Rent is likely to be partly based on store sales, some of the people said. This will be Prada’s first major new store in Hong Kong in years. The group shut its flagship... https://www.scmp.com/business/companies/article/3272313/hong-kong-retail-prada-open-8000-sq-ft-store-k11-musea-after-years-downsizing?utm_source=rss_feed https://www.scmp.com/business/companies/article/3272313/hong-kong-retail-prada-open-8000-sq-ft-store-k11-musea-after-years-downsizing?utm_source=rss_feed Mon, 29 Jul 2024 08:28:02 +0000 Sino Land and Hysan Development, two major Hong Kong property developers, expect “uncertainties” to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday. Sino Land said that its profit in the July-to-December period last year – the first six months of its financial year – rose 6.5 per cent to HK$2.6 billion (US$332 million) even as revenue fell by about 23 per cent to HK$4.92 billion. Its property sales jumped 70 per cent to HK$6.63... https://www.scmp.com/business/article/3252877/hong-kong-developers-sino-land-hysan-expect-last-years-uncertainties-loom-over-citys-property-sector?utm_source=rss_feed https://www.scmp.com/business/article/3252877/hong-kong-developers-sino-land-hysan-expect-last-years-uncertainties-loom-over-citys-property-sector?utm_source=rss_feed Thu, 22 Feb 2024 12:35:41 +0000 A recovery in the retail property market in Hong Kong is on the right track, but the same cannot be said for the office market amid continued high vacancy rates and economic uncertainty, according to leading landlords Swire Properties and Hysan Development. Both companies pointed to encouraging signs in the retail market as they reported their first-half financial results on Thursday. Retail sales at some of Swire’s shopping malls, which include Pacific Place in Admiralty and Cityplaza at Taikoo... https://www.scmp.com/business/companies/article/3230651/hong-kongs-retail-sector-revive-top-landlords-see-positive-signs-shop-tenants-while-office-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3230651/hong-kongs-retail-sector-revive-top-landlords-see-positive-signs-shop-tenants-while-office-market?utm_source=rss_feed Thu, 10 Aug 2023 10:11:59 +0000 Hysan Development, the largest landlord in ­Causeway Bay, is cautious on Hong Kong’s retail and office markets, saying a slower-than-anticipated growth in sales and an impending office glut is clouding market outlook. The market has become optimistic following the reopening of the border with the mainland, but the increased footfall has not resulted in sales rebounding to pre-social unrest levels, Hysan chairman Irene Lee said at a post-results briefing on Friday. Hysan’s underlying profit fell... https://www.scmp.com/business/article/3210612/hysan-cautious-hong-kongs-retail-office-markets-after-posting-86-cent-drop-profit-2022?utm_source=rss_feed https://www.scmp.com/business/article/3210612/hysan-cautious-hong-kongs-retail-office-markets-after-posting-86-cent-drop-profit-2022?utm_source=rss_feed Fri, 17 Feb 2023 11:42:27 +0000 Hysan Development, Causeway Bay’s largest landlord, has set aside HK$2 billion (US$256.2 million) to upgrade its Lee Garden portfolio in the prime Hong Kong shopping district and turn it into a one-stop luxury shopping destination. The proposed “Lee Gardens Rejuvenation” includes the development of the Caroline Hill Road land parcel, Hysan executives said in a briefing last Thursday. The revamp will turn Lee Gardens into the “home of luxury”, said Ricky Lui, executive director and chief... https://www.scmp.com/business/article/3204642/hysan-earmarks-us256-million-lee-gardens-rejuvenation-causeway-bay-turn-it-home-luxury?utm_source=rss_feed https://www.scmp.com/business/article/3204642/hysan-earmarks-us256-million-lee-gardens-rejuvenation-causeway-bay-turn-it-home-luxury?utm_source=rss_feed Tue, 27 Dec 2022 23:30:09 +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 Hysan Development, the largest landlord in Hong Kong’s trendy shopping district of Causeway Bay, reported slightly lower profit and sales for the first half, as the city’s toughest Covid-19 restrictions during the height of the fifth wave of the pandemic slammed the retail segment. Recurring underlying profit dipped 0.7 per cent year on year to HK$1.16 billion (US$149 million) in the January to June period, while turnover declined 3.1 per cent to HK$1.77 billion, it said in a filing to Hong Kong... https://www.scmp.com/business/article/3189764/hong-kongs-hysan-causeway-bays-largest-landlord-posts-lower-first-half?utm_source=rss_feed https://www.scmp.com/business/article/3189764/hong-kongs-hysan-causeway-bays-largest-landlord-posts-lower-first-half?utm_source=rss_feed Mon, 22 Aug 2022 09:38:31 +0000 Hong Kong’s property developers are extending favourable finance terms to luxury home deals, after big-ticket sales declined by up to almost half in July. The number of transactions for lived-in homes worth HK$12 million (US$1.5 million) to HK$20 million dropped last month with just 181 deals completed, a 45 per cent drop from June, according to analysis of Land Registry data by Ricacorp Properties. The sales of homes costing between HK$20.01 million and HK$50 million dropped by 33 per cent to... https://www.scmp.com/business/article/3188960/hong-kong-developers-sweeten-financing-terms-luxury-homes-after-deals?utm_source=rss_feed https://www.scmp.com/business/article/3188960/hong-kong-developers-sweeten-financing-terms-luxury-homes-after-deals?utm_source=rss_feed Tue, 16 Aug 2022 00:30:23 +0000 Alibaba Group Holding has increased the representation of women and independent directors on its board, after adding two directors ahead of its application to make Hong Kong the primary listing venue of its stock. Irene Lee Yun-lien, chairwoman of Hysan Development Company Limited, and Albert Ng Kong-ping, former chairman of Ernst & Young China, were appointed to Alibaba’s board, effective on Thursday, according to a company statement. “Irene and Albert are both respected leaders with invaluable... https://www.scmp.com/tech/big-tech/article/3187645/alibaba-appoints-two-independent-directors-it-seeks-hong-kong-primary?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3187645/alibaba-appoints-two-independent-directors-it-seeks-hong-kong-primary?utm_source=rss_feed Thu, 04 Aug 2022 02:48:21 +0000 A high-rise office tower in Hong Kong’s bustling shopping district of Causeway Bay is an unlikely spot for planting aubergines and taros, but every quarter or so, 110 lucky people get to set foot on 8,000 square feet of soil located on the 38th floor of the 40-storey skyscraper to grow and harvest their own crops. The open space in Hysan Place on Hennessy Road, called The Urban Farm, is just one example of several non-rural gardens in one of the world’s densest cities and one of the most... https://www.scmp.com/business/article/3183266/rooftop-farms-hong-kong-skyscrapers-provide-fruitful-and-nutritious-hobby?utm_source=rss_feed https://www.scmp.com/business/article/3183266/rooftop-farms-hong-kong-skyscrapers-provide-fruitful-and-nutritious-hobby?utm_source=rss_feed Tue, 28 Jun 2022 01:30:22 +0000 A large residential site in Kowloon’s To Kwa Wan has sold slightly below market expectations amid Hong Kong’s worsening Covid-19 outbreak. Centenary Investments Limited, a wholly-owned subsidiary of CK Asset Holdings, won two adjoining sites about eight minutes walk to the To Kwa Wan MTR Station for HK$5.99 billion (US$767.3 million), the Urban Renewal Authority (URA) said on Thursday. The price was lower than the market expectation of HK$6 billion to HK$6.8 billion. The plot may have sold below... https://www.scmp.com/business/article/3169127/ck-asset-unit-wins-large-residential-site-kowloons-kwa-wan-us767-million?utm_source=rss_feed https://www.scmp.com/business/article/3169127/ck-asset-unit-wins-large-residential-site-kowloons-kwa-wan-us767-million?utm_source=rss_feed Thu, 03 Mar 2022 12:15:21 +0000 Two of Hong Kong’s biggest property developers and retail landlords have posted declining results and foresee more challenges ahead, as the city’s social distancing rules keep consumers away from shopping centres. Sun Hung Kai Properties (SHKP), which owns neighbourhood shopping centres New Town Plaza and Yoho Mall in Sha Tin and Yuen Long, two districts with the most number of Covid-19 cases, said its interim core profit fell 15 per cent to HK$14.8 billion (US$1.9 billion) in the six months... https://www.scmp.com/business/article/3168291/hong-kong-developers-sun-hung-kai-properties-hysan-post-declining-profits?utm_source=rss_feed https://www.scmp.com/business/article/3168291/hong-kong-developers-sun-hung-kai-properties-hysan-post-declining-profits?utm_source=rss_feed Thu, 24 Feb 2022 14:00:16 +0000 Henderson Land Development may have set a record by bidding HK$50.8 billion (US$6.5 billion) for Hong Kong’s most coveted commercial plot in the main business zone of Central, but the city is no stranger to eye-watering land deals. Henderson Land’s record bid beat out five contenders in the government’s “two-envelope” tender for the harbourfront plot in Central. North of the city’s old General Post Office and next to the International Finance Centre, the plot measures 516,316 sq ft (47,967... https://www.scmp.com/business/article/3154890/after-henderson-lands-record-bid-here-are-five-other-most-expensive-land?utm_source=rss_feed https://www.scmp.com/business/article/3154890/after-henderson-lands-record-bid-here-are-five-other-most-expensive-land?utm_source=rss_feed Thu, 04 Nov 2021 23:30:22 +0000 Hysan Development is expanding into Shanghai’s commercial market with the 3.5 billion yuan (US$542 million) acquisition of a 24-storey building in which CK Asset Holdings has a controlling stake, with the aim of recreating another Lee Gardens in the mainland city, according to a company announcement late Friday. “This acquisition marks a very important step for our long-term planning and development in Shanghai. We will continue to identify new development opportunities in Shanghai, the Greater... https://www.scmp.com/business/article/3149214/hysan-snaps-shanghai-building-35-billion-yuan-and-says-it-aims-create?utm_source=rss_feed https://www.scmp.com/business/article/3149214/hysan-snaps-shanghai-building-35-billion-yuan-and-says-it-aims-create?utm_source=rss_feed Sat, 18 Sep 2021 01:00:32 +0000 Hysan Development, the largest commercial landlord in Causeway Bay, expects retail rents to rise thanks to Hong Kong’s economic recovery and the consumption vouchers handed out by the government. Sales and footfall in shopping centres have increased with the government’s distribution of HK$5,000 (US$642.56) consumption vouchers to each Hongkonger this month and the easing of Covid-19 cases, said Ricky Lui, chief operating officer at Hysan at a briefing on Wednesday. “The stimulus from... https://www.scmp.com/business/article/3144706/hong-kong-retail-rents-will-rise-thanks-economic-recovery-covid-19?utm_source=rss_feed https://www.scmp.com/business/article/3144706/hong-kong-retail-rents-will-rise-thanks-economic-recovery-covid-19?utm_source=rss_feed Wed, 11 Aug 2021 12:00:11 +0000 Hysan Development is expanding into the shared-office market in the Greater Bay Area through a joint venture with IWG, the world’s largest flexible workspace operator, as it seeks to cash in on the growing trend of remote working arrangements by companies who are looking to contain costs. The joint venture will acquire and operate IWG’s 32 existing locations and brands across the Greater Bay Area, Hysan said on Monday, without disclosing its investment in the venture. Sixteen of these shared... https://www.scmp.com/business/article/3144403/hysan-development-iwg-form-flexible-office-joint-venture-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/3144403/hysan-development-iwg-form-flexible-office-joint-venture-hong-kong?utm_source=rss_feed Mon, 09 Aug 2021 11:30:15 +0000 Hong Kong property stocks are enjoying a value revival as investors pay the highest price for their underlying assets in more than a decade. Strong response to new residential projects, more spending vouchers, and a return of foreign funds could fuel that momentum. The price-to-book ratio of Hang Seng Property Index members has risen to 1.8 times this year, according to data compiled by Bloomberg, a level not seen since they averaged two times in 2009. In pandemic-stricken 2020, they slumped to... https://www.scmp.com/business/markets/article/3137936/hong-kong-property-stocks-enjoy-value-revival-they-hitch-ride?utm_source=rss_feed https://www.scmp.com/business/markets/article/3137936/hong-kong-property-stocks-enjoy-value-revival-they-hitch-ride?utm_source=rss_feed Sun, 20 Jun 2021 23:30:00 +0000 A large commercial plot in Causeway Bay, the first to be offered by the government in the area in 24 years, attracted six bids on Friday. Bids for the 286,140 sq ft site on Caroline Hill Road have been placed by a partnership between Hysan Development, the largest landlord in Causeway Bay and Chinachem Group, while Sino Land is bidding as part of a consortium that includes Lifestyle International Holdings, Kerry Properties and CC Land Holdings. Offers have also come from Sun Hung Kai Properties... https://www.scmp.com/business/companies/article/3132685/ck-asset-wheelock-sun-hung-kai-properties-among-six-bidders?utm_source=rss_feed https://www.scmp.com/business/companies/article/3132685/ck-asset-wheelock-sun-hung-kai-properties-among-six-bidders?utm_source=rss_feed Fri, 07 May 2021 10:53:39 +0000 At least 100 “ageing” office buildings in Hong Kong need to be refurbished to unlock their rental potential, as the Covid-19 pandemic changes market dynamics and tenant expectations, according to JLL. More than half of the city’s grade A and B buildings are considered ageing as they were built more than 20 years ago, with rents 10 to 40 per cent lower than well-maintained and newer buildings, the property consultancy said. And with less than a quarter of them upgraded in the last 10 years, they... https://www.scmp.com/business/article/3132255/hong-kongs-ageing-office-towers-likely-lose-rental-value-us13-billion?utm_source=rss_feed https://www.scmp.com/business/article/3132255/hong-kongs-ageing-office-towers-likely-lose-rental-value-us13-billion?utm_source=rss_feed Wed, 05 May 2021 02:00:15 +0000 There is still no light at the end of the tunnel for Hong Kong’s major property developers after a painful year in which their hotel and retail businesses took a particular drubbing, according to analysts and industry figures. Three of the city’s biggest commercial property landlords revealed sizeable falls in profit for 2020 as travel restrictions kept visitors at bay and brought the city’s economy to a virtual standstill. “Various domestic and external challenges will continue to weigh on the... https://www.scmp.com/business/article/3123165/outlook-major-hong-kong-developers-still-gloomy-covid-19-travel?utm_source=rss_feed https://www.scmp.com/business/article/3123165/outlook-major-hong-kong-developers-still-gloomy-covid-19-travel?utm_source=rss_feed Thu, 25 Feb 2021 23:30:07 +0000 Hang Seng Bank said on Monday that it would appoint independent director Irene Lee Yun Lien as its chairman later this year, the first woman to serve in the role in the bank’s history. The Hong Kong lender said Raymond Ch’ien Kuo Fung would retire after 13 years as chairman to devote more time to his other commitments and interests following the bank’s annual meeting, which is expected in the second quarter of this year. “I am excited to take up the role of chairman at a time when the digital... https://www.scmp.com/business/banking-finance/article/3116406/hang-seng-bank-appoint-first-woman-its-chairman-later-year?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3116406/hang-seng-bank-appoint-first-woman-its-chairman-later-year?utm_source=rss_feed Mon, 04 Jan 2021 14:12:34 +0000 “Historic theatre to face bulldozer,” ran a South China Morning Post headline on March 11, 1991. The theatre in question was the Lee Theatre, “an historic landmark in Causeway Bay”. It was “set to be taken over for redevel­opment” by Hysan Development, which had acquired it for HK$450 million. “The grand­iose Lee Theatre was built [in the 1930s] by a British architect as a copy of London’s Haymarket Theatre,” the story continued. The next day, the Post reported Hysan Development was “anxious to... https://www.scmp.com/magazines/post-magazine/short-reads/article/3096314/when-final-curtain-fell-hong-kongs-lee-theatre?utm_source=rss_feed https://www.scmp.com/magazines/post-magazine/short-reads/article/3096314/when-final-curtain-fell-hong-kongs-lee-theatre?utm_source=rss_feed Fri, 07 Aug 2020 03:15:16 +0000 IWG, the world’s largest operator of serviced offices, is to take over the space left behind by rival WeWork at Hysan Place in Causeway Bay, where rents have fallen more than 6 per cent recently. The 32,000 square feet of co-working space on the 31st and 32nd floors of the tower, owned by one of the city’s biggest landlords, Hysan Development, was abandoned by WeWork in April. The American flexible workspace giant has vacated a fifth of its Hong Kong premises recently. The uncertain economic... https://www.scmp.com/business/companies/article/3087683/flexible-workspace-giant-iwg-takes-over-us-rival-weworks?utm_source=rss_feed https://www.scmp.com/business/companies/article/3087683/flexible-workspace-giant-iwg-takes-over-us-rival-weworks?utm_source=rss_feed Fri, 05 Jun 2020 05:01:06 +0000 WeWork, the US real estate firm, is returning about 20 per cent of its Hong Kong premises to their owners, as start-ups, small enterprises and other short-term tenants failed to take up its offering of shared working space in the city. It has given up 182,000 sq ft in Causeway Bay and Tsim Sha Tsui, two of Hong Kong’s prime office districts, according to agents familiar with the matter. Two floors in Hysan Place in Causeway bay and six floors in Sun Life Tower in Harbour City in Tsim Sha Tsui... https://www.scmp.com/business/article/3084074/wework-dumps-about-fifth-coworking-space-breach-leases-signed-major-hong?utm_source=rss_feed https://www.scmp.com/business/article/3084074/wework-dumps-about-fifth-coworking-space-breach-leases-signed-major-hong?utm_source=rss_feed Wed, 13 May 2020 01:00:16 +0000 Hong Kong’s leading mall owners are looking at various options to help struggling tenants amid the unrelenting protests, but most of them are reluctant to commit to rent cuts even after the city recorded its worst monthly sales in August. Although Sun Hung Kai Properties, Wharf (Holdings), Hysan Development, Swire Properties and CK Asset, which together own 40 shopping centres in the city, have come up with proposals, including increasing promotional activities to postponing rental payments,... https://www.scmp.com/business/companies/article/3032385/hong-kongs-mall-owners-push-back-tenants-plea-cut-rent-even?utm_source=rss_feed https://www.scmp.com/business/companies/article/3032385/hong-kongs-mall-owners-push-back-tenants-plea-cut-rent-even?utm_source=rss_feed Fri, 11 Oct 2019 00:15:12 +0000 Hysan Development, the biggest landlord in Hong Kong’s shopping district Causeway Bay, said that overall sales at its shopping centres is likely to have fallen by at least 10 per cent in July, as the regular extradition bill protests in the area kept shoppers away. “For July ... I believe a drop can be seen. The initial estimate will be in early teens, a drop of at least 10 per cent,” Roger Hao, Hysan’s chief financial officer, said after the firm reported an 8.9 per cent rise in an underlying... https://www.scmp.com/property/hong-kong-china/article/3022640/hysan-development-biggest-landlord-causeway-bay-feels?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3022640/hysan-development-biggest-landlord-causeway-bay-feels?utm_source=rss_feed Tue, 13 Aug 2019 12:31:16 +0000 Rents for co-working space in Hong Kong, already the most expensive in Asia-Pacific at US$741 per month, are set to rise further as the sector undergoes another wave of consolidation even as uptake slows, say industry operators. According to the latest report from property agency Colliers, Hong Kong, with 141 shared office centres, topped 14 other cities in the region in terms of average desk cost per month, followed by Beijing at US$693, which has 45 co-working centres and Sydney, with 58... https://www.scmp.com/property/hong-kong-china/article/3015814/hong-kong-co-working-operators-set-raise-rates?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3015814/hong-kong-co-working-operators-set-raise-rates?utm_source=rss_feed Tue, 25 Jun 2019 23:00:09 +0000 Hysan Development, one of the biggest landlords in Hong’s Kong’s famous shopping district of Causeway Bay, is poised to benefit as an influx of shoppers using the new Hong Kong-Zhuhai-Macau Bridge and high-speed rail link is set to rejuvenate the city’s beleaguered retail market. Market observers have seen a 20 per cent increase in shoppers since the launch of the Hong Kong-Zhuhai-Macau Bridge and the new high-speed train service, and are forecasting a gradual recovery in the city’s retail... https://www.scmp.com/business/companies/article/2187176/hysan-development-set-profit-mega-bridge-high-speed-rail-link?utm_source=rss_feed https://www.scmp.com/business/companies/article/2187176/hysan-development-set-profit-mega-bridge-high-speed-rail-link?utm_source=rss_feed Thu, 21 Feb 2019 23:01:21 +0000 The owner of the city’s biggest shopping mall expects retail sales to remain stable after a strong recovery in the first half this year even as dark clouds loom in the form of the US-China trade war and a weakening yuan. “We don’t see much impact yet, but we have to be very vigilant,” said Stephen Ng Tin-hoi, chairman and managing director of Wharf Real Estate Investment, which owns Harbour City and Times Square. “Generally speaking, we are not pessimistic.” Ng said some of his tenants told him... https://www.scmp.com/business/companies/article/2158636/trade-war-weakening-yuan-pose-challenges-harbour-city-mall?utm_source=rss_feed https://www.scmp.com/business/companies/article/2158636/trade-war-weakening-yuan-pose-challenges-harbour-city-mall?utm_source=rss_feed Tue, 07 Aug 2018 08:32:30 +0000 How’s this for a comedown? A top Hong Kong restaurant is making way for a children’s attraction, months after losing its Michelin star. Seasons restaurant in the upmarket Lee Garden Two mall in Causeway Bay will close on July 15, to be replaced with what landlord the Hysan Development Company describes as “an exciting kids-oriented project”. The French Revolution: Why three top chefs are going it alone in Hong Kong The French fine-dining restaurant opened just over four years ago in a... https://www.scmp.com/lifestyle/food-drink/article/2153685/top-hong-kong-restaurant-shut-kids-attraction-replace-it-year?utm_source=rss_feed https://www.scmp.com/lifestyle/food-drink/article/2153685/top-hong-kong-restaurant-shut-kids-attraction-replace-it-year?utm_source=rss_feed Wed, 04 Jul 2018 04:15:37 +0000 Summer Zhen Summer Zhen Workplaces are quickly evolving in Causeway Bay, one of Hong Kong’s busiest shopping and business districts, and the area’s biggest commercial landlord wants to lead on creating a more enjoyable and healthier work environment for millennials. Hysan Development’s 32-storey, grade A office tower, Lee Garden Three, which is to open by year end, will feature an indoor running track, spaces for yoga and spas and a terrace. “Society has changed and is focusing more on lifestyle. As an office operator,... https://www.scmp.com/property/hong-kong-china/article/2116580/running-track-yoga-and-spa-hysan-targets-millennials-new?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2116580/running-track-yoga-and-spa-hysan-targets-millennials-new?utm_source=rss_feed Tue, 24 Oct 2017 04:00:46 +0000 Hysan Development, one of the largest landlords in the shopping district of Causeway Bay in Hong Kong, will continue looking for opportunities to raise its stake in the residential market, the company’s management said on Friday. The owner of several major shopping malls last year made its first residential land purchase in nearly 20 years as the city’s retail sector took a downward turn. In November, Hysan, along with land developer HKR International, was awarded two residential sites in the... https://www.scmp.com/business/article/2067903/hysan-eyes-more-hong-kong-residential-projects-amid-subdued-retail-sector?utm_source=rss_feed https://www.scmp.com/business/article/2067903/hysan-eyes-more-hong-kong-residential-projects-amid-subdued-retail-sector?utm_source=rss_feed Fri, 03 Feb 2017 12:43:48 +0000