https://www.scmp.com/rss/318784/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal Hong Kong’s property market is poised for a broad-based recovery as a strong upturn in the residential segment spills over to the struggling office and retail sectors, according to analysts. Morgan Stanley upgraded its forecast for the city’s home prices to a 12 per cent increase this year from 10 per cent previously and anticipated another 5 per cent rise in 2027, it said in a report on Monday. Likewise, the office property segment was likely to see some relief, with Hong Kong’s top business... https://www.scmp.com/business/article/3352357/hong-kong-residential-property-upturn-drives-recovery-office-retail-morgan-stanley?utm_source=rss_feed https://www.scmp.com/business/article/3352357/hong-kong-residential-property-upturn-drives-recovery-office-retail-morgan-stanley?utm_source=rss_feed Mon, 04 May 2026 09:15:08 +0000 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 A two-speed recovery is emerging in Central’s top-tier offices, prompting landlords to adopt a more hands-on leasing approach, including hiring asset managers, as rental performance diverges. While much attention has focused on firms taking advantage of lower rents to move back into Central, widening the gap with other districts, data from CBRE showed another divide was widening within the business district itself. In the first quarter, vacancy in Central’s grade A offices eased to about 9.6 per... https://www.scmp.com/business/article/3351364/2-speed-recovery-hits-central-landlords-older-towers-cut-rents-compete?utm_source=rss_feed https://www.scmp.com/business/article/3351364/2-speed-recovery-hits-central-landlords-older-towers-cut-rents-compete?utm_source=rss_feed Sun, 26 Apr 2026 03:30:08 +0000 Cheryl Arcibal Cheryl Arcibal DBS Bank (Hong Kong) has agreed to pay about HK$2.62 billion (US$334 million) for six floors at The Center – once the world’s most expensive skyscraper – marking the city’s largest office transaction so far this year. The lender acquired the 32nd, 36th, 37th, 56th, 62nd and 76th floors late last month, with the deal registered on Tuesday, according to Land Registry records. The purchase adds 151,934 sq ft of gross floor area, DBS said in a statement on Wednesday. The price works out to roughly... https://www.scmp.com/business/article/3350140/dbs-hong-kong-acquires-six-floors-center-us334-million-deal?utm_source=rss_feed https://www.scmp.com/business/article/3350140/dbs-hong-kong-acquires-six-floors-center-us334-million-deal?utm_source=rss_feed Wed, 15 Apr 2026 06:50:31 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s reputation as a safe haven could be reinforced by the geopolitical shock waves from the US-Israel conflict with Iran, potentially supporting demand for premium office space in its core business districts, according to analysts. While the city was not insulated from global uncertainty, it could benefit over the medium term as Gulf investors reassessed geographic diversification and sought stable financial hubs, said Jack Tong, director of research and consultancy at Savills Hong... https://www.scmp.com/business/article/3349700/geopolitical-tensions-may-bolster-hong-kong-office-demand-gulf-capital-looks-east?utm_source=rss_feed https://www.scmp.com/business/article/3349700/geopolitical-tensions-may-bolster-hong-kong-office-demand-gulf-capital-looks-east?utm_source=rss_feed Mon, 13 Apr 2026 01:00:11 +0000 Peggy Ye Peggy Ye Jardine Matheson is giving up its remaining office space in FWD Tower at Taikoo Place and plans to relocate staff back to Jardine House in Central as part of operational consolidation, sources said. The move reflects a wider trend of companies consolidating into the core district, where demand for premium office space has been strengthening. The group’s primary office at Jardine House, part of its own property portfolio, “is now undergoing renovations to create a modern workspace that will... https://www.scmp.com/business/companies/article/3349602/jardine-matheson-exit-swires-taikoo-place-consolidate-offices-central-sources?utm_source=rss_feed https://www.scmp.com/business/companies/article/3349602/jardine-matheson-exit-swires-taikoo-place-consolidate-offices-central-sources?utm_source=rss_feed Fri, 10 Apr 2026 04:05:07 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s New World Development (NWD) has shelved plans to acquire the remaining stakes in three commercial sites in Causeway Bay, signalling continued caution among developers despite signs of improving demand in the core office market. The company, which has been selling assets to reduce debt, said it would “exercise prudence as appropriate, having regard to cost and efficiency, as well as overall market supply and demand, with a view to delivering reasonable returns”. NWD, which reported... https://www.scmp.com/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed Thu, 02 Apr 2026 11:34:41 +0000 Cheryl Arcibal Cheryl Arcibal Prime office supply in mainland Chinese cities and Hong Kong is estimated to peak this year, while demand remains hampered by an economic slowdown and global uncertainties, according to Cushman & Wakefield. At the end of 2025, premium office inventory in 21 major cities in Greater China – including Hong Kong, Beijing, Shanghai, Shenzhen and Guangzhou, as well as Taiwan – amounted to 99.2 million square metres (1.07 billion sq ft), up 4.6 million square metres or 8.4 per cent from a year earlier,... https://www.scmp.com/business/article/3348648/mainland-china-hong-kong-premium-office-supply-peak-demand-lags-cushman-says?utm_source=rss_feed https://www.scmp.com/business/article/3348648/mainland-china-hong-kong-premium-office-supply-peak-demand-lags-cushman-says?utm_source=rss_feed Wed, 01 Apr 2026 08:30:13 +0000 Zhu Wenqian,Cheryl Arcibal Zhu Wenqian,Cheryl Arcibal Prime office vacancy rates in Hong Kong’s main business district dropped to single digits for the first time in 26 months, lifting overall rents in the city’s struggling office property market, according to JLL. The vacancy rate in Central for premium offices fell to 9.9 per cent in February from 10.1 per cent the previous month, the property consultancy said. The last time a single-digit rate was recorded for grade A offices in the district was in December 2023, when it also hit 9.9 per cent,... https://www.scmp.com/business/article/3347209/office-vacancy-rate-hong-kongs-central-falls-single-digits-after-2-years?utm_source=rss_feed https://www.scmp.com/business/article/3347209/office-vacancy-rate-hong-kongs-central-falls-single-digits-after-2-years?utm_source=rss_feed Fri, 20 Mar 2026 00:30:12 +0000 Cheryl Arcibal Cheryl Arcibal JPMorgan Chase has committed to leasing about 250,000 sq ft of space in the new Sun Hung Kai Properties (SHKP) office towers in Hong Kong’s West Kowloon district for 10 years, making the US investment bank the anchor tenant of the 700,000 sq ft mixed-use development, the Hong Kong-listed developer said on Friday. Artist Square Towers (AST) will house the bank’s Kowloon office, which is currently located at The Quayside in Kowloon East, starting in the latter half of 2028, according to an... https://www.scmp.com/business/article/3346491/jpmorgan-signs-anchor-tenant-shkps-west-kowloon-office-development?utm_source=rss_feed https://www.scmp.com/business/article/3346491/jpmorgan-signs-anchor-tenant-shkps-west-kowloon-office-development?utm_source=rss_feed Fri, 13 Mar 2026 10:30:08 +0000 Peggy Ye Peggy Ye Swire Properties reported stronger underlying earnings in 2025, as the Hong Kong developer stepped up asset disposals and expanded its mainland China retail portfolio, though weakness in the city’s office market dragged the company into a headline loss. Underlying profit rose 27 per cent to HK$8.62 billion (US$1.1 billion), driven largely by gains from the disposal of noncore assets including the Brickell City Centre retail mall in Miami and several properties in Hong Kong, according to the... https://www.scmp.com/business/article/3346391/hong-kong-developers-swire-and-wharf-report-profit-growth-amid-valuation-pressure?utm_source=rss_feed https://www.scmp.com/business/article/3346391/hong-kong-developers-swire-and-wharf-report-profit-growth-amid-valuation-pressure?utm_source=rss_feed Thu, 12 Mar 2026 12:30:11 +0000 Cao Li Cao Li Singapore is the most expensive city in the Asia-Pacific region to outfit an office, driven by increased labour costs, a shortage of contractors and strict building standards, according to real estate consultancy Knight Frank. The city had the highest average fit-out cost at US$2,029 per square metre – ahead of Tokyo (US$1,994) and Taipei (US$1,593) – in the firm’s survey of 23 cities across Australasia, East Asia, Southeast Asia and India. It was also the most expensive place to set up an... https://www.scmp.com/business/article/3345398/singapore-offices-cost-most-outfit-asia-pacific-survey-says?utm_source=rss_feed https://www.scmp.com/business/article/3345398/singapore-offices-cost-most-outfit-asia-pacific-survey-says?utm_source=rss_feed Wed, 04 Mar 2026 08:30:32 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s struggling office landlords are ramping up efforts to convert their assets into co-working spaces and student accommodation in a bid to adapt to intense competition and the flight to quality, according to analysts. With some 3.5 million sq ft of new premium office space expected to be completed this year and next, on top of the 4.5 million sq ft added in 2024 and 2025, tenants are increasingly choosing to relocate to new and modern offices, leading to diverging fortunes for big... https://www.scmp.com/business/article/3344901/hong-kongs-small-office-landlords-turn-co-working-student-hostels-survive?utm_source=rss_feed https://www.scmp.com/business/article/3344901/hong-kongs-small-office-landlords-turn-co-working-student-hostels-survive?utm_source=rss_feed Sat, 28 Feb 2026 23:30:08 +0000 Cao Li Cao Li The value of collateral assets used by banks for commercial property loans is expected to continue declining in 2026, according to S&P Global Ratings, as the sector has yet to find a clear bottom. “More collateral pain is likely this year for Hong Kong banks,” the credit rating agency said in a report published on Thursday, adding that a subset of small banks could face more acute strain. That assessment comes as Hong Kong’s commercial property market remains on a sustained downturn that started... https://www.scmp.com/business/banking-finance/article/3344761/hong-kong-banks-collateral-asset-valuations-continue-declining-2026-sp?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344761/hong-kong-banks-collateral-asset-valuations-continue-declining-2026-sp?utm_source=rss_feed Thu, 26 Feb 2026 12:18:04 +0000 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 Cao Li Cao Li China’s shop rents have slid back to 2018 levels as subdued consumer spending continues to weigh on the retail sector, with analysts expecting the pressure to persist for another one to two years. In the second half of 2025, average rents across 100 major commercial streets in 15 key mainland cities fell to 24 yuan (US$3.50) per square metre per day — the lowest level since the second half of 2018 — according to a report published on Monday by independent real estate research firm China Index... https://www.scmp.com/business/article/3344308/empty-shops-falling-rents-commercial-property-takes-hit-china-retail-slump?utm_source=rss_feed https://www.scmp.com/business/article/3344308/empty-shops-falling-rents-commercial-property-takes-hit-china-retail-slump?utm_source=rss_feed Mon, 23 Feb 2026 06:30:07 +0000 SCMP Editorial SCMP Editorial Hong Kong commercial real estate is showing signs of life again. The move by Swiss bank UBS to West Kowloon and trading firm Jane Street’s leasing of 223,000 sq ft of office space at the New Central Harbourfront project – the largest leasing deal in Central in a decade – have given a big boost to the market. Such moves by foreign financial institutions not only indicate market recovery, but also their confidence in the Hong Kong and mainland economies, with the city playing the role of a... https://www.scmp.com/opinion/comment/article/3343443/steady-recovery-hong-kongs-property-market-vote-confidence?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3343443/steady-recovery-hong-kongs-property-market-vote-confidence?utm_source=rss_feed Sat, 14 Feb 2026 23:15:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s so-called headquarters economy, in which the city serves as a regional and global base for corporate headquarters, is spurring recovery in the commercial real estate sector as analysts forecast an improved investment environment this year. The city’s battered office market showed signs of stability in 2025, with 2.1 million sq ft (195,000 square metres) of net absorption for the full year, the largest annual total since 2018, according to CBRE. Central recorded the biggest... https://www.scmp.com/business/article/3342815/what-hong-kongs-headquarters-economy-and-how-it-drives-commercial-property-upswing?utm_source=rss_feed https://www.scmp.com/business/article/3342815/what-hong-kongs-headquarters-economy-and-how-it-drives-commercial-property-upswing?utm_source=rss_feed Sun, 08 Feb 2026 07:44:27 +0000 Peggy Ye Peggy Ye When Alex Barnes and his team finally closed the two largest single-tenant office leasing deals Central has seen in more than a decade, the outcome was decisive – but the path there was anything but quick. Barnes, the co-CEO in Greater China and managing director in Hong Kong, Taiwan and Macau at JLL, advised quantitative trading firm Jane Street Asia on a record-setting lease at Central Yards, followed months later by a six-floor commitment from hedge fund Qube Research & Technologies at Two... https://www.scmp.com/business/article/3342806/how-two-landmark-central-deals-boost-sentiment-hong-kongs-office-market?utm_source=rss_feed https://www.scmp.com/business/article/3342806/how-two-landmark-central-deals-boost-sentiment-hong-kongs-office-market?utm_source=rss_feed Sun, 08 Feb 2026 06:00:16 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong commercial real estate is the Asia-Pacific region’s fifth most favoured investment destination for cross-border capital this year, underscoring an improved outlook for the city’s battered property market, according to a CBRE report. Hong Kong also recorded the second-highest number of luxury residential property deals among 12 super-prime markets worldwide in the last quarter of 2025, sustaining a recovery that began in the second quarter, a report from Knight Frank showed. After a... https://www.scmp.com/business/article/3342451/hong-kong-back-top-choice-foreign-commercial-property-investors-study-says?utm_source=rss_feed https://www.scmp.com/business/article/3342451/hong-kong-back-top-choice-foreign-commercial-property-investors-study-says?utm_source=rss_feed Thu, 05 Feb 2026 03:15:41 +0000 Cheryl Arcibal Cheryl Arcibal A Hong Kong office unit at Admiralty Centre has changed hands for HK$292.17 million (US$37.46 million), making it the most expensive commercial property transaction registered on Tuesday, according to official records, in a deal that adds to tentative signs of stabilisation in the city’s battered real estate market. The office space, located in Tower 1 of the Admiralty Centre within the city’s core business district, was acquired by Luck Ring Development, Land Registry records showed. The unit... https://www.scmp.com/business/article/3341576/hong-kong-logs-us37-million-admiralty-office-deal-amid-tentative-market-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3341576/hong-kong-logs-us37-million-admiralty-office-deal-amid-tentative-market-recovery?utm_source=rss_feed Wed, 28 Jan 2026 12:08:57 +0000 Peggy Ye Peggy Ye The couple behind the Asia distributor of Japanese skincare brand Fancl has bought prime office and retail space in Hong Kong’s Admiralty district, highlighting selective bargain hunting by cash-rich local investors as commercial property prices remain under pressure. Gourmet Dining Group, owned by Christopher Chan and wife Michelle Ma-chan, agreed on January 5 to buy a shop and a unit on the first floor as well as part of the mezzanine on the second floor at Lippo Centre for HK$299 million... https://www.scmp.com/business/article/3340397/fancl-distributor-couple-buys-lippo-centre-office-shop-us383-million-deal?utm_source=rss_feed https://www.scmp.com/business/article/3340397/fancl-distributor-couple-buys-lippo-centre-office-shop-us383-million-deal?utm_source=rss_feed Mon, 19 Jan 2026 07:20:35 +0000 Zhu Wenqian Zhu Wenqian More economy and mid-range hotel operators in China are leasing office buildings for conversion to guest accommodation, and such flexible, mixed-use approaches are expected to increase amid a continued weakening of the office market. In some Chinese cities, the practice of multiple hotel brands co-leasing separate floors within a single building has become more prevalent, fuelled by interest from both property owners and hotel operators. In Hangzhou, the capital of eastern China’s Zhejiang... https://www.scmp.com/business/article/3340179/hotel-conversions-gain-traction-chinas-office-market-amid-high-vacancies?utm_source=rss_feed https://www.scmp.com/business/article/3340179/hotel-conversions-gain-traction-chinas-office-market-amid-high-vacancies?utm_source=rss_feed Sun, 18 Jan 2026 03:00:10 +0000 Cheryl Arcibal Cheryl Arcibal The newest landmark office tower in Hong Kong’s main business zone is nearing full occupancy a year and a half after it welcomed its first tenants, suggesting improving fortunes in the city’s office property segment. The Henderson – the prime commercial development and namesake tower for one of Hong Kong’s largest developers – reached 90 per cent occupancy recently, Henderson Land said on Friday. The 36-storey building in Central counts among its tenants auction house Christie’s, alternative... https://www.scmp.com/business/article/3340209/hong-kongs-latest-office-landmark-nearly-full-segment-upturn-simmers?utm_source=rss_feed https://www.scmp.com/business/article/3340209/hong-kongs-latest-office-landmark-nearly-full-segment-upturn-simmers?utm_source=rss_feed Fri, 16 Jan 2026 12:30:15 +0000 Cheryl Arcibal Cheryl Arcibal Surging mainland Chinese investment in Hong Kong’s commercial real estate sector has helped set the stage for a “measured recovery” in 2026, according to Colliers. Investment from the mainland rose to the highest level in five years in the last quarter of 2025, and deal value in 2026 was set to increase by 10 per cent, Colliers said. In the luxury residential segment, mainland capital accounted for about 80 per cent of transactions exceeding HK$100 million on The Peak and in Southern district,... https://www.scmp.com/business/article/3339783/mainland-chinese-money-drive-10-rise-hong-kong-commercial-property-deals-colliers?utm_source=rss_feed https://www.scmp.com/business/article/3339783/mainland-chinese-money-drive-10-rise-hong-kong-commercial-property-deals-colliers?utm_source=rss_feed Wed, 14 Jan 2026 03:00:14 +0000 Cheryl Arcibal Cheryl Arcibal Ares Management, one of Asia’s largest alternative investment managers, is doubling its real estate footprint in Hong Kong, a move that aligns with a broader expansion by financial firms and demand for office space in the core Central business district. The Los Angeles-based asset manager would add about 12,500 sq ft of space in Gloucester Tower, where it has been a tenant since 2017, according to a statement from the landlord Hongkong Land on Monday. The new lease will be effective in... https://www.scmp.com/business/article/3339546/financial-firm-ares-doubles-hong-kong-office-footprint-real-estate-outlook-improves?utm_source=rss_feed https://www.scmp.com/business/article/3339546/financial-firm-ares-doubles-hong-kong-office-footprint-real-estate-outlook-improves?utm_source=rss_feed Mon, 12 Jan 2026 05:10:41 +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 Hong Kong’s battered office sector showed cautious signs of life in 2025, supported by improved take-up in core districts and a slower pace of rental declines and –. while analysts said that trend was set to continue into 2026 – rents were unlikely to rise over the next six months. The coming year was expected to build on the market’s momentum, with stabilisation emerging as the dominant theme, analysts said. Vacancy rates in prime assets in core districts were likely to steady further, but... https://www.scmp.com/business/article/3338546/hong-kong-office-leasing-rebound-lifts-outlook-2026-rents-remain-under-pressure?utm_source=rss_feed https://www.scmp.com/business/article/3338546/hong-kong-office-leasing-rebound-lifts-outlook-2026-rents-remain-under-pressure?utm_source=rss_feed Mon, 05 Jan 2026 00:30:25 +0000 Peggy Ye Peggy Ye City University of Hong Kong has bought an office property in Kowloon for HK$1.96 billion (US$252 million), joining a growing list of educational institutions buying office assets amid depressed prices as the city’s office market shows early signs of stabilising. CityU Limited, a wholly owned subsidiary of the university, has acquired the low-rise office block at Festival Walk in Kowloon Tong from Singapore-based Mapletree Pan Asia Commercial Trust. The agreement was signed on December 10, with... https://www.scmp.com/business/article/3338488/cityu-joins-ranks-schools-snapping-hong-kong-offices-festival-walk-buy?utm_source=rss_feed https://www.scmp.com/business/article/3338488/cityu-joins-ranks-schools-snapping-hong-kong-offices-festival-walk-buy?utm_source=rss_feed Fri, 02 Jan 2026 06:52:02 +0000 Chen Hong Chen Hong Landlords in Hong Kong and Singapore are expected to continue allocating space to flexible office operators as multinational corporations reshape the sector’s risk profile and fuel long-term demand, according to industry experts. A major driver behind this shift is the rapid change in who uses flexible workspaces. Global companies now represented 41 per cent of Asia-Pacific flex office users, the highest proportion worldwide and nearly triple North America’s 14 per cent, according to Piers... https://www.scmp.com/business/article/3336733/hong-kong-and-singapore-landlords-embrace-flex-offices-multinationals-reshape-demand?utm_source=rss_feed https://www.scmp.com/business/article/3336733/hong-kong-and-singapore-landlords-embrace-flex-offices-multinationals-reshape-demand?utm_source=rss_feed Sun, 21 Dec 2025 03:30:10 +0000 Cheryl Arcibal Cheryl Arcibal Hongkong Land is set to launch what it expects to be the largest private real estate fund in Singapore, with more than S$8 billion (US$6.2 billion) in assets under management, including prime commercial projects in the waterfront Marina Bay district. At inception, the Singapore Central Private Real Estate Fund (SCPREF) would include one-third stakes in One Raffles Quay and Marina Bay Financial Centre Towers 1 and 2, the Hong Kong-based commercial landlord and developer said in a statement on... https://www.scmp.com/business/article/3336260/hongkong-land-poised-launch-us6-billion-singapore-property-fund?utm_source=rss_feed https://www.scmp.com/business/article/3336260/hongkong-land-poised-launch-us6-billion-singapore-property-fund?utm_source=rss_feed Fri, 12 Dec 2025 11:30:18 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s Hang Seng University has acquired office units in a commercial building in the New Territories for HK$90 million (US$11.6 million), making it the latest school to purchase real estate amid a government push to turn the city into a global education hub. The acquisition covers 16 office units measuring 19,139 sq ft on the 11th floor of Metropole Square in Sha Tin, together with four car parking spaces. The seller was listed company Alco Holdings, which manufactures and sells consumer... https://www.scmp.com/business/article/3335975/hong-kongs-hang-seng-university-joins-property-rush-us116-million-office-deal?utm_source=rss_feed https://www.scmp.com/business/article/3335975/hong-kongs-hang-seng-university-joins-property-rush-us116-million-office-deal?utm_source=rss_feed Thu, 11 Dec 2025 01:35:33 +0000 Peggy Ye Peggy Ye Hongkong Land has secured the return of international law firm Harneys to its office portfolio in the Central business district, in a deal that underscores improved sentiment in Hong Kong’s premium commercial property market. Harneys, which marks its 20th year in Hong Kong in 2025, has signed an eight-year lease for 11,048 sq ft on the 14th floor of Alexandra House, part of Hongkong Land’s Landmark complex. The firm, a repeat tenant previously based in Exchange Square, will relocate in February... https://www.scmp.com/property/hong-kong-china/article/3335842/hongkong-lands-leasing-deal-law-firm-harneys-sign-flight-quality?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3335842/hongkong-lands-leasing-deal-law-firm-harneys-sign-flight-quality?utm_source=rss_feed Wed, 10 Dec 2025 05:00:08 +0000 Cheryl Arcibal Cheryl Arcibal HSBC is set to occupy more than 40,000 sq ft of space in Capitol Centre in Causeway Bay, as Hong Kong’s largest bank joins a growing list of finance and banking firms snapping up commercial space in the city. The London-headquartered lender signed a five-year lease, which starts May 18, 2026, for five levels – ground plus four floors of the building, according to Land Registry records. The deal was registered in late November. The records did not show the size or rent for the leased space, but... https://www.scmp.com/business/article/3335233/hsbc-occupy-over-40000-sq-ft-hong-kongs-capitol-centre-2026?utm_source=rss_feed https://www.scmp.com/business/article/3335233/hsbc-occupy-over-40000-sq-ft-hong-kongs-capitol-centre-2026?utm_source=rss_feed Fri, 05 Dec 2025 00:30:10 +0000 Cheryl Arcibal Cheryl Arcibal An increase in office leasing activity in Hong Kong, coupled with a moderate amount of new space coming onto the market, translates to improved prospects for the battered commercial property sector next year, according to analysts. The supply of new grade A office space in 2026 and 2027 was likely to be less than the amount completed in the last two years, according to forecasts by property consultants. CBRE estimated that a net of 3.5 million sq ft of new premium office space would be completed... https://www.scmp.com/business/article/3334664/hong-kongs-battered-prime-office-market-poised-better-year-ahead-analysts-say?utm_source=rss_feed https://www.scmp.com/business/article/3334664/hong-kongs-battered-prime-office-market-poised-better-year-ahead-analysts-say?utm_source=rss_feed Mon, 01 Dec 2025 00:30:12 +0000 Ken Ip Ken Ip There was a time when Hong Kong’s retail landlords looked untouchable. If you wanted a dependable income, you would buy shares in the city’s leading real estate investment trusts (Reits), the steady dividend machines of a service economy built on foot traffic, routine and the long-held assumption that Hongkongers would always shop. These companies were the unshakeable pillars of everyday commerce. They prospered not because the economy was roaring, but because consumers kept showing up. That era... https://www.scmp.com/opinion/hong-kong-opinion/article/3333967/why-not-just-another-retail-downturn-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3333967/why-not-just-another-retail-downturn-hong-kong?utm_source=rss_feed Wed, 26 Nov 2025 08:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Investment in Hong Kong’s commercial property more than tripled in the third quarter from a year earlier, making it the second-fastest growing market in the Asia-Pacific region amid rising confidence in the city’s bruised real estate sector, according to MSCI. Some US$4.9 billion was pumped into offices, data centres, retail spaces, hotels and senior housing in the September quarter, a year-on-year increase of 231 per cent, according to the data services provider, which compiled deals worth at... https://www.scmp.com/business/article/3334097/out-icu-hong-kongs-third-quarter-commercial-property-deals-triple-us49-billion?utm_source=rss_feed https://www.scmp.com/business/article/3334097/out-icu-hong-kongs-third-quarter-commercial-property-deals-triple-us49-billion?utm_source=rss_feed Wed, 26 Nov 2025 00:51:43 +0000 Cheryl Arcibal Cheryl Arcibal Prime office rents in Hong Kong’s Central business district rose modestly in November – the first time in three and a half years – on the back of an overall improvement in vacancy rates, which helped buttress the negotiating stance of landlords, according to property consultancy JLL. Rents in Central inched up 0.1 per cent to HK$72.90 (US$9.36) per square foot from October, as the number of empty offices decreased slightly to 13.1 per cent from 13.4 per cent, JLL said. The last time that rents... https://www.scmp.com/business/companies/article/3333986/hong-kongs-central-prime-office-rents-rise-first-time-more-3-years?utm_source=rss_feed https://www.scmp.com/business/companies/article/3333986/hong-kongs-central-prime-office-rents-rise-first-time-more-3-years?utm_source=rss_feed Mon, 24 Nov 2025 22:30:09 +0000 Cheryl Arcibal Cheryl Arcibal Prime office rents in Hong Kong and Singapore are expected to reach parity within two years, driven by diverging dynamics in demand and supply for office properties in the rival business hubs, according to CBRE. By the fourth quarter of 2027, tenants in premium office spaces in Hong Kong were set to pay just over US$122 per square foot per year, while those in Singapore would face slightly higher costs at about US$123 per square foot annually, said Ada Choi, head of research for Asia-Pacific at... https://www.scmp.com/business/article/3333789/hong-kong-and-singapore-prime-office-rents-set-equalise-2027-cbre-says?utm_source=rss_feed https://www.scmp.com/business/article/3333789/hong-kong-and-singapore-prime-office-rents-set-equalise-2027-cbre-says?utm_source=rss_feed Mon, 24 Nov 2025 01:30:15 +0000 Cheryl Arcibal Cheryl Arcibal Henderson Land Development has unveiled Central Yards, a 1.6 million sq ft mixed-use project taking shape on Hong Kong’s most expensive piece of prime real estate and a key component of the developer’s HK$63 billion (US$8 billion) New Central Harbourfront project. The nine-storey building in Central, which would offer more than 700,000 sq ft of office and ancillary space, would have the largest floorplate in the city’s main business district, Henderson said in a statement on Tuesday. Five of the... https://www.scmp.com/business/article/3333346/henderson-unveils-central-yards-centrepiece-its-us8-billion-harbourfront-project?utm_source=rss_feed https://www.scmp.com/business/article/3333346/henderson-unveils-central-yards-centrepiece-its-us8-billion-harbourfront-project?utm_source=rss_feed Wed, 19 Nov 2025 04:37:05 +0000 Daniel Ren Daniel Ren Lower rents improved occupancy rates in Shanghai’s premium office market as the city reported solid economic growth, but most companies remained cost-conscious amid a cloudy economic outlook and expectations for bigger discounts, according to JLL. Discounts attracted corporate tenants in the quarter ended September, prompting relocations from business parks and suburban areas to grade-A office buildings, the property firm said. “As the rental disparity between grade-A and grade-B properties... https://www.scmp.com/business/china-business/article/3332972/shanghai-premium-office-market-picks-rent-discounts-encourage-upgrades?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3332972/shanghai-premium-office-market-picks-rent-discounts-encourage-upgrades?utm_source=rss_feed Mon, 17 Nov 2025 01:30:11 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s luxury residential rents are likely to climb another 3 to 5 per cent next year as growing numbers of returning Western expatriates and home-grown professionals drive demand for high-end accommodation, according to Savills. Deals were expected to exceed the 660 last year, said Jack Tong, the property consultancy’s director of research. “The outlook remains cautiously positive,” he added. For next year, Savills expected “stable to gently rising luxury rents as the supply of prime units... https://www.scmp.com/business/article/3332283/returning-expats-fuel-hong-kongs-luxury-rental-rebound-savills-says?utm_source=rss_feed https://www.scmp.com/business/article/3332283/returning-expats-fuel-hong-kongs-luxury-rental-rebound-savills-says?utm_source=rss_feed Wed, 12 Nov 2025 00:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Credit Agricole CIB has renewed its lease for 85,000 sq ft of prime office space at Pacific Place in Admiralty, extending its tenancy until 2034, according to landlord Swire Properties. The renewal would continue a partnership spanning more than two decades, Swire Properties, one of Hong Kong’s largest commercial landlords, said in a statement on Monday. The premises – four floors at Two Pacific Place – serve as the French banking giant’s Asia-Pacific headquarters. “Pacific Place has been our... https://www.scmp.com/business/article/3332165/credit-agricole-renews-pacific-place-lease-reaffirming-commitment-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/3332165/credit-agricole-renews-pacific-place-lease-reaffirming-commitment-hong-kong?utm_source=rss_feed Mon, 10 Nov 2025 06:30:48 +0000 Cheryl Arcibal Cheryl Arcibal Paris-based private equity (PE) firm Ardian has opened a 4,000 sq ft office in Hong Kong’s main business district, with an eye on growing its US$3 billion investment out of the company’s total US$200 billion in assets under management (AUM). The new office at the Two International Finance Centre in Central marked the company’s fifth location in Asia and would initially have eight permanent staff, according to Jason Yao, the group’s head of Greater China. “The reason we have an office here is to... https://www.scmp.com/business/companies/article/3330943/european-private-equity-firm-ardian-eyes-fresh-growth-new-office-hong-kongs-two-ifc?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330943/european-private-equity-firm-ardian-eyes-fresh-growth-new-office-hong-kongs-two-ifc?utm_source=rss_feed Thu, 30 Oct 2025 23:30:09 +0000 Salina Li Salina Li A multinational infrastructure consultancy has leased 120,000 sq ft for its upgraded Asia headquarters at a grade A office building of New World Development (NWD) in Cheung Sha Wan, setting a record as the biggest post-pandemic deal of its kind in the district. Aecom, drawn by the district’s well-developed transport network and accessibility, which supports employee commutes and business development across the Greater Bay Area and Northern Metropolis, was the latest tenant at NWD’s 83 King Lam... https://www.scmp.com/business/article/3330860/hong-kong-developer-nwd-seals-record-deal-global-firm-aecoms-asia-headquarters?utm_source=rss_feed https://www.scmp.com/business/article/3330860/hong-kong-developer-nwd-seals-record-deal-global-firm-aecoms-asia-headquarters?utm_source=rss_feed Thu, 30 Oct 2025 06:10:28 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s education sector, an emerging industry with full backing of the government, is starting to have an impact on the city’s prime office market as traditional tenants in finance continue to downsize their real estate footprint, according to analysts. Office tenants in the city occupied a total of 73.4 million sq ft this year, according to the latest study by CBRE. That was 1.1 million sq ft more than they had occupied in 2022, the last time a similar study was done by the... https://www.scmp.com/business/article/3330349/education-emerges-new-player-hong-kongs-office-market-amid-high-vacancy-rates?utm_source=rss_feed https://www.scmp.com/business/article/3330349/education-emerges-new-player-hong-kongs-office-market-amid-high-vacancy-rates?utm_source=rss_feed Mon, 27 Oct 2025 01:30:14 +0000 Cheryl Arcibal Cheryl Arcibal As Japan enters a new era with the likely election of Sanae Takaichi as the first female prime minister of Asia’s second-largest economy, is it time for property investors to end their enduring love affair with Japanese real estate? The 64-year-old Takaichi emerged last week as the leader of Japan’s ruling Liberal Democratic Party, paving the way for her to seek the premiership, although uncertainties remain following the collapse of a coalition with the party’s allies. Under an anticipated... https://www.scmp.com/business/article/3329467/china-hong-kong-property-markets-stabilise-it-time-investors-quit-japan?utm_source=rss_feed https://www.scmp.com/business/article/3329467/china-hong-kong-property-markets-stabilise-it-time-investors-quit-japan?utm_source=rss_feed Sun, 19 Oct 2025 01:30:14 +0000 Cheryl Arcibal,Salina Li Cheryl Arcibal,Salina Li Alibaba Group Holding and Ant Group have agreed to pay HK$7.2 billion (US$925 million) to buy the top floors of a Causeway Bay office tower that Mandarin Oriental International is building on the site of The Excelsior hotel, marking Hong Kong’s largest real estate transactions since 2021. Alibaba and Ant bought 301,555 sq ft (28,015 square metres) of space, comprising the top 13 floors of the 24-storey building, with parking space for 50 vehicles and signage rights to the tower, according to... https://www.scmp.com/business/article/3329403/alibaba-ant-buy-top-13-floors-one-causeway-bay-relief-hong-kongs-property-glut?utm_source=rss_feed https://www.scmp.com/business/article/3329403/alibaba-ant-buy-top-13-floors-one-causeway-bay-relief-hong-kongs-property-glut?utm_source=rss_feed Fri, 17 Oct 2025 09:24:38 +0000 Daniel Ren Daniel Ren Canadian athletic apparel retailer Lululemon has become the latest tenant of Hongkong Land’s mixed-use project Westbund Central in Shanghai, adding lustre to a waterfront area in the city’s southwestern Xuhui district amid a property downtrend. The company would officially open its China store support centre on October 27, a move to show Lululemon’s vibrancy in line with the development of the West Bund, an emerging central business district (CBD) built on the 11km-long zone, according to Ng San... https://www.scmp.com/business/china-business/article/3328746/lululemon-moves-hongkong-lands-project-shanghai-giving-emerging-cbd-boost?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328746/lululemon-moves-hongkong-lands-project-shanghai-giving-emerging-cbd-boost?utm_source=rss_feed Mon, 13 Oct 2025 07:36:15 +0000 Salina Li Salina Li Hong Kong’s largest flex-office provider, International Workplace Group (IWG), has opened a new 10-storey facility in Central, as the rise in stock market confidence and listing activities supported the recovery in the city’s office market, according to property consultants. IWG on Wednesday opened the company’s 22nd workspace location in Hong Kong at The Voeux, located at 102-104 Des Voeux Road, which offers more than 6,400 square feet of flexible office space to cater to the needs of... https://www.scmp.com/business/article/3328265/hong-kongs-largest-flex-office-provider-opens-new-workspace-facility-demand-improves?utm_source=rss_feed https://www.scmp.com/business/article/3328265/hong-kongs-largest-flex-office-provider-opens-new-workspace-facility-demand-improves?utm_source=rss_feed Wed, 08 Oct 2025 12:13:39 +0000