https://www.scmp.com/rss/517763/feed CK Asset Holdings was formed in 2015 when tycoon Li Ka-shing's Cheung Kong Holdings spun off its property arm as part of a restructuring that culminated in the privatisation of Cheung Kong. CK Asset Holdings replaced its parent on the Hong Kong stock exchange. In 2018, Li Ka-shing stepped down as chairman and handed leadership to his son Victor Li Tzar-kuoi. The elder Li retains a role as senior adviser. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com 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 Zhu Wenqian,Cheryl Arcibal Zhu Wenqian,Cheryl Arcibal A consortium led by Sino Land, alongside state-backed mainland developers China Overseas Land & Investment and China Merchants Land, has won a tender for the Kam Sheung Road Station Phase Two development, signalling continued confidence in Hong Kong’s Northern Metropolis and its long-term growth prospects, particularly among mainland developers. The group – which also includes Great Eagle Holdings – plans to invest more than HK$13 billion (US$1.7 billion) to build high-quality residential... https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed Tue, 21 Apr 2026 11:30:30 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s MTR Corporation said on Monday that it had received eight bids for a commercial and residential development at one of the critical hubs in the Northern Metropolis, a large-scale project that aims to bolster the city’s economic base and foster closer integration with the Greater Bay Area. The number of bids for the Kam Sheung Road Station Phase Two property development exceeded expectations, indicating developers’ interest in the Northern Metropolis project, according to analysts. The... https://www.scmp.com/business/article/3350761/hong-kongs-northern-metropolis-gains-momentum-key-project-attracts-8-bids?utm_source=rss_feed https://www.scmp.com/business/article/3350761/hong-kongs-northern-metropolis-gains-momentum-key-project-attracts-8-bids?utm_source=rss_feed Mon, 20 Apr 2026 12:00:05 +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 Julie Zhang Julie Zhang CK Life Sciences, a unit of Li Ka-shing-backed CK Group, plans to bring its cancer vaccine candidates to mainland China through a “fast track” channel as Beijing moves to accelerate early-stage drug development. “We are planning to run investigator-initiated trials [IITs], hopefully, in the next year,” CK Life Sciences’ vice-president and chief scientific officer Dr Melvin Toh Kean-meng said in a recent interview. His comments came as CK Life Sciences set up Sequencio Therapeutics in Hong Kong... https://www.scmp.com/business/china-business/article/3348317/li-ka-shings-ck-life-unit-eyes-china-fast-track-cancer-vaccine-pipeline?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348317/li-ka-shings-ck-life-unit-eyes-china-fast-track-cancer-vaccine-pipeline?utm_source=rss_feed Sun, 29 Mar 2026 23:00:32 +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,Peggy Ye Cheryl Arcibal,Peggy Ye CK Hutchison Holdings, one of the flagship companies owned by Hong Kong billionaire Li Ka-shing’s family, reported a 7 per cent increase in underlying profit for 2025, as the company predicted its businesses would face “new and perhaps unforeseen challenges” in 2026. The ports-to-telecoms conglomerate said on Thursday that underlying profit reached HK$22.3 billion (US$2.85 ‌billion) last year, compared with HK$20.8 billion a year earlier. Including a one-time ⁠accounting loss, net profit fell... https://www.scmp.com/business/article/3347168/hong-kongs-ck-hutchison-reports-7-gain-underlying-profit-amid-unforeseen-challenges?utm_source=rss_feed https://www.scmp.com/business/article/3347168/hong-kongs-ck-hutchison-reports-7-gain-underlying-profit-amid-unforeseen-challenges?utm_source=rss_feed Thu, 19 Mar 2026 09:32:39 +0000 Peggy Ye Peggy Ye Luxury residential property on Hong Kong’s Peak Road owned by businessman Chan King-wai has been put up for sale by public tender, several years after he acquired it from companies linked to CK group. Marketing agent JLL said on Monday that the adjoining sites at 86, 88 and 90 Peak Road are being offered for joint sale by tender. The residential lots have a combined area of about 28,620 sq ft. The site could attract bids of about HK$70,000 (US$8,939) to HK$100,000 per square foot, said Joseph... https://www.scmp.com/business/article/3346780/hong-kong-businessman-expected-take-loss-peak-properties-he-bought-us255m?utm_source=rss_feed https://www.scmp.com/business/article/3346780/hong-kong-businessman-expected-take-loss-peak-properties-he-bought-us255m?utm_source=rss_feed Mon, 16 Mar 2026 11:53:05 +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 Zhang Shidong Zhang Shidong Hong Kong stocks closed out February with the worst monthly decline since October as jitters about artificial intelligence’s potential disruption to traditional industries put investors on tenterhooks. For the month, the Hang Seng Index dropped 2.8 per cent, dragged down by Chinese technology stocks. The benchmark closed 1 per cent higher at 26,630.54 on Friday. The Hang Seng Tech Index gained 0.6 per cent, paring the decline in February to 10 per cent. On the mainland, the CSI 300 Index slipped... https://www.scmp.com/business/china-business/article/3344801/hong-kong-stocks-head-worst-month-october-ai-disruption-angst?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3344801/hong-kong-stocks-head-worst-month-october-ai-disruption-angst?utm_source=rss_feed Fri, 27 Feb 2026 02:14:40 +0000 Peggy Ye Peggy Ye A consortium comprising CK Infrastructure Holdings, CK Asset Holdings and Power Assets Holdings has agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie in a deal worth £10.5 billion (US$14.2 billion), according to a joint filing issued before the Hong Kong market opened on Thursday. The agreement was signed after trading hours on Wednesday in Hong Kong, London and Paris. The announcement triggered a rally across the CK group’s Hong Kong-listed... https://www.scmp.com/business/banking-finance/article/3344660/ck-group-agrees-sell-uk-electricity-operator-us142-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344660/ck-group-agrees-sell-uk-electricity-operator-us142-billion?utm_source=rss_feed Thu, 26 Feb 2026 00:38:30 +0000 Cheryl Arcibal Cheryl Arcibal Tycoon Li Ka-shing has added more than US$6 billion to his net worth, boosting his standing as Hong Kong’s richest individual and contributing to a US$65 billion increase in the assets of the city’s 50 richest people, according to Forbes. Li, whose business interests span real estate, infrastructure and pharmaceuticals via companies such as CK Asset Holdings and CK Hutchison, had a net worth of US$45.1 billion this year, up from US$38.9 billion in 2025, according to a list compiled by the... https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed Thu, 12 Feb 2026 11:52:11 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-listed mainland Chinese developer China Overseas Land & Investment won a bid for a 3,132-square-metre (33,712 sq ft) residential plot in Kowloon East, beating some of the city’s largest developers with a higher-than-expected tender. The state-backed developer beat eight rivals to secure a 50-year grant for the parcel in Ngau Tau Kok with its bid of HK$1.8 billion (US$230 million), according to a statement from the Lands Department on Tuesday. The site is expected to yield 470... https://www.scmp.com/business/article/3343088/hong-kong-residential-plot-fetches-us230-million-chinese-developer-outbids-city-rivals?utm_source=rss_feed https://www.scmp.com/business/article/3343088/hong-kong-residential-plot-fetches-us230-million-chinese-developer-outbids-city-rivals?utm_source=rss_feed Tue, 10 Feb 2026 12:34:34 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s tender for a 3,132 square metre (33,712 sq ft) residential plot in Ngau Tau Kok, Kowloon East, has drawn nine bids, according to the Development Bureau. The site was estimated to be worth as much as HK$1.55 billion (US$198 million), according to real estate services provider CBRE. Sun Hung Kai Properties, Henderson Land Development and CK Asset Holdings submitted bids individually, while Sino Land and Great Eagle Holdings made a joint offer, the groups confirmed separately on... https://www.scmp.com/business/article/3342684/kowloon-east-site-attracts-nine-bids-hong-kong-housing-outlook-brightens?utm_source=rss_feed https://www.scmp.com/business/article/3342684/kowloon-east-site-attracts-nine-bids-hong-kong-housing-outlook-brightens?utm_source=rss_feed Fri, 06 Feb 2026 10:40:34 +0000 Danny Mok Danny Mok A wild boar carcass found outside the luxury Deep Water Bay residence of Hong Kong’s richest man Li Ka-shing triggered a brief scare over possible human remains before authorities confirmed on Thursday that it was an animal. A 61‑year‑old security guard at Li’s home at 79 Deep Water Bay Road called police shortly before noon on Thursday after detecting a strong odour. Officers arrived and discovered the carcass of a wild boar at the bottom of a 20-metre (66-foot) slope. The Food and... https://www.scmp.com/news/hong-kong/society/article/3340867/wild-boar-carcass-found-near-li-ka-shings-home-hong-kong-sparks-brief-scare?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3340867/wild-boar-carcass-found-near-li-ka-shings-home-hong-kong-sparks-brief-scare?utm_source=rss_feed Thu, 22 Jan 2026 10:46:28 +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 Fiona Chow Fiona Chow Hong Kong labour authorities have suspended the use of elevating platforms at a construction site where a 65-year-old worker died after getting trapped between the device’s railing and a wall. The Labour Department on Thursday said it was “saddened” by the death and had launched an investigation to identify the cause of the accident that took place at the Victoria Blossom housing project on Shing Fung Lane in Kai Tak on Wednesday afternoon. A spokesman said the department had issued suspension... https://www.scmp.com/news/hong-kong/health-environment/article/3340002/hong-kong-authorities-halt-use-elevating-platform-work-site-after-worker-death?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3340002/hong-kong-authorities-halt-use-elevating-platform-work-site-after-worker-death?utm_source=rss_feed Thu, 15 Jan 2026 08:03:52 +0000 Cheryl Arcibal Cheryl Arcibal CK Infrastructure Holdings is poised to complete the disposal of UK Rails (Eversholt Rail) this month following London’s approval of the deal, according to the company, which is part of Hong Kong tycoon Li Ka-shing’s business empire. The train leasing company is owned by a consortium of the group’s companies: CK Infrastructure, which holds 65 per cent, along with CK Asset Holdings (20 per cent), Power Asset Holdings (10 per cent) and CK Hutchison Holdings (5 per cent), according to the... https://www.scmp.com/business/article/3339897/li-ka-shings-ck-infrastructure-gets-nod-sell-train-leasing-firm-uk-rails?utm_source=rss_feed https://www.scmp.com/business/article/3339897/li-ka-shings-ck-infrastructure-gets-nod-sell-train-leasing-firm-uk-rails?utm_source=rss_feed Wed, 14 Jan 2026 11:00:11 +0000 Yulu Ao Yulu Ao Hong Kong stocks rose on Friday as traders positioned for additional growth-supportive measures after Beijing vowed to strengthen the domestic market to buffer against external headwinds at its annual central economic work conference. The Hang Seng Index gained 1.8 per cent to 25,976.79 at the close of trading – the biggest gain since November 24. It helped trim its weekly loss to 0.4 per cent. The Hang Seng Tech Index advanced 1.9 per cent. On the mainland, the CSI 300 Index climbed 0.6 per... https://www.scmp.com/business/china-business/article/3336142/hong-kong-stocks-advance-beijing-vows-bolster-economy-key-conference?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3336142/hong-kong-stocks-advance-beijing-vows-bolster-economy-key-conference?utm_source=rss_feed Fri, 12 Dec 2025 02:19:02 +0000 Lo Hoi-ying,Olga Wong Lo Hoi-ying,Olga Wong Major Hong Kong developers are considering a blanket ban on smoking by workers at construction sites following a blaze in Tai Po that killed 159, with at least two companies already demanding all their contractors impose the rule or step up penalties. The Real Estate Developers Association told the Post on Friday that it was gathering views on the proposed smoking ban from its members, including major developers such as Sino Land, Swire Properties, Sun Hung Kai Properties and New World... https://www.scmp.com/news/hong-kong/society/article/3335294/hong-kong-developers-push-blanket-smoking-ban-construction-sites-after-deadly-fire?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3335294/hong-kong-developers-push-blanket-smoking-ban-construction-sites-after-deadly-fire?utm_source=rss_feed Fri, 05 Dec 2025 04:58:10 +0000 Cheryl Arcibal Cheryl Arcibal Chinachem Group has secured a 70,127 sq ft site in Tsuen Wan in the New Territories for more than HK$2.47 billion (US$318 million), beating eight other bidders, according to the Lands Department. The other bidders were Sun Hung Kai Properties, CK Asset Holdings, Henderson Land Development, Great Eagle Holdings, China Overseas Land & Investment, K. Wah International Holdings, Wheelock Properties and a consortium of Sino Land, Kerry Properties and China Merchants Land. The award gives Chinachem –... https://www.scmp.com/business/article/3333300/chinachem-secures-plot-hong-kongs-tsuen-wan-us318-million?utm_source=rss_feed https://www.scmp.com/business/article/3333300/chinachem-secures-plot-hong-kongs-tsuen-wan-us318-million?utm_source=rss_feed Tue, 18 Nov 2025 13:33:34 +0000 Cheryl Arcibal Cheryl Arcibal Nine groups, including some of Hong Kong’s largest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings, Henderson Land and Chinachem Group – have submitted offers for a 70,127 sq ft parcel in Tsuen Wan in the New Territories. The Lands Department received the bids by noon on Friday, the deadline for the tender that began on September 26, according to a spokeswoman, who did not provide further details. The developers confirmed their participation in the tender to the Post. The site at... https://www.scmp.com/business/article/3332837/hong-kongs-top-developers-vie-rare-tsuen-wan-site-test-land-market-rebound?utm_source=rss_feed https://www.scmp.com/business/article/3332837/hong-kongs-top-developers-vie-rare-tsuen-wan-site-test-land-market-rebound?utm_source=rss_feed Fri, 14 Nov 2025 10:44:36 +0000 Cheryl Arcibal Cheryl Arcibal CK Asset Holdings, the flagship company of Hong Kong tycoon Li Ka-shing, and Sun Hung Kai Properties (SHKP), the city’s largest developer, are two of six bidders for a parcel of land in the New Territories that is estimated to provide 1,280 residential units and car park spaces. MTR Corp, one of the city’s major property developers and landlords, put up the Tuen Mun A16 Station package one property development for tender. Package one, with a maximum residential gross floor area of more than... https://www.scmp.com/business/article/3331668/li-ka-shings-ck-asset-shkp-among-six-bidders-mtrs-tuen-mun-site?utm_source=rss_feed https://www.scmp.com/business/article/3331668/li-ka-shings-ck-asset-shkp-among-six-bidders-mtrs-tuen-mun-site?utm_source=rss_feed Wed, 05 Nov 2025 12:31:49 +0000 Jess Ma Jess Ma A man has been arrested for splashing red paint in the lobby of a landmark Hong Kong skyscraper, with the Post learning that the suspect had demanded to meet tycoon Li Ka-shing beforehand. Police said a security guard reported at 10.36am on Tuesday that he was allegedly attacked by an emotionally agitated man who had been splashing paint inside the Cheung Kong Center. Officers arrived at the scene and arrested the 49-year-old man on suspicion of criminal damage and common assault. A source said... https://www.scmp.com/news/hong-kong/law-and-crime/article/3331481/man-arrested-hong-kong-over-splashing-red-paint-ck-assets-office-lobby?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3331481/man-arrested-hong-kong-over-splashing-red-paint-ck-assets-office-lobby?utm_source=rss_feed Tue, 04 Nov 2025 09:17:43 +0000 Vivian Au Vivian Au Hong Kong’s cash-strapped Urban Renewal Authority (URA) is looking at engaging private developers at an earlier stage of the redevelopment process by allowing them to acquire the old buildings to reduce the risk of failed tenders, the body’s chief has revealed. The remarks by URA managing director Donald Choi Wun-hing on Monday followed the authority’s move to review its compensation policy and introduce a more comprehensive compensation mechanism with better rehousing options to cut its... https://www.scmp.com/news/hong-kong/society/article/3328791/hong-kongs-ura-eyes-engaging-developers-early-cut-risk-failed-tenders?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3328791/hong-kongs-ura-eyes-engaging-developers-early-cut-risk-failed-tenders?utm_source=rss_feed Mon, 13 Oct 2025 07:51:19 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Wednesday, tracking Wall Street’s retreat from record highs amid growing concerns that the artificial intelligence boom may have overheated and risks turning into a bubble. The Hang Seng Index closed 0.5 per cent lower at 26,829.46. The Hang Seng Tech Index lost 0.6 per cent. Stock exchanges on the mainland are closed for a week-long public holiday and will reopen on Thursday. Search-engine leader Baidu slumped 3 per cent to HK$135, while food-delivery service provider... https://www.scmp.com/business/china-business/article/3328178/hong-kong-stocks-drop-most-2-weeks-amid-ai-bubble-fears-track-wall-street?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328178/hong-kong-stocks-drop-most-2-weeks-amid-ai-bubble-fears-track-wall-street?utm_source=rss_feed Wed, 08 Oct 2025 02:37:45 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s homebuyers defied a No 3 typhoon signal to snap up apartments during two property sales on Friday, entering the market after commercial banks lowered their prime lending rates a day earlier following the first rate cut by the local monetary authority. New World Development and CK Asset Holdings, two of the largest property developers in the city, sold 120 apartments, or 66 per cent of the 190 flats on offer at two locations as of 8:30pm. New World sold 115 of the 120 units in the... https://www.scmp.com/business/article/3326182/hong-kongs-homebuyers-brave-storm-signal-citys-first-post-rate-cut-property-sales?utm_source=rss_feed https://www.scmp.com/business/article/3326182/hong-kongs-homebuyers-brave-storm-signal-citys-first-post-rate-cut-property-sales?utm_source=rss_feed Fri, 19 Sep 2025 10:22:21 +0000 Salina Li Salina Li New World Development (NWD) and CK Asset Holdings on Thursday became the first two developers to announce property sales after interest rates were lowered, with analysts saying the move would boost transactions but not prices due to elevated supply. NWD said all 120 units at House Muse in Kowloon City would go on sale on Friday. It is the first new residential project to be launched after the Hong Kong Monetary Authority (HKMA) cut rates for the first time this year, bringing down the cost of... https://www.scmp.com/business/article/3325987/nwd-and-ck-asset-launch-sales-hoping-hkmas-first-rate-cut-year-revives-sentiment?utm_source=rss_feed https://www.scmp.com/business/article/3325987/nwd-and-ck-asset-launch-sales-hoping-hkmas-first-rate-cut-year-revives-sentiment?utm_source=rss_feed Thu, 18 Sep 2025 09:15:12 +0000 Mike Rowse Mike Rowse Hong Kong should be very concerned about the recent flurry of cases involving misbehaviour in the construction industry. It would be too easy to write them off as isolated incidents when they could just as easily be straw in the wind, indicating a serious underlying malaise. One high-profile case is the Anderson Road quarry redevelopment by CK Asset Holdings. The Independent Commission Against Corruption (ICAC) arrested 10 suspects earlier this year for allegedly paying or receiving bribes in... https://www.scmp.com/opinion/hong-kong-opinion/article/3324375/hong-kong-cant-let-its-construction-sector-be-captured-bad-actors?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3324375/hong-kong-cant-let-its-construction-sector-be-captured-bad-actors?utm_source=rss_feed Sun, 07 Sep 2025 08:30:08 +0000 Salina Li Salina Li One of Hong Kong’s best-known real estate investors has put another luxury home up for sale at a discount, as the city’s property glut and elevated interest rates weigh on highly leveraged entrepreneurs. David Chan Ping-chi, dubbed the “Cassette King” for his fortunes made from producing audiovisual cassettes and compact discs, plans to sell a three-storey mansion at 51 Mount Davis Road on Hong Kong Island to repay debt, he said in a phone interview with the Post. Chan is asking for about HK$450... https://www.scmp.com/business/article/3324155/hong-kongs-cassette-king-puts-another-luxury-property-sale-pay-debt?utm_source=rss_feed https://www.scmp.com/business/article/3324155/hong-kongs-cassette-king-puts-another-luxury-property-sale-pay-debt?utm_source=rss_feed Wed, 03 Sep 2025 06:36:22 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s home sales are likely to hit a four-year high this year as buyers show an increasing willingness to commit to both new and existing residential units, according to agents. Residential transactions in the city are expected to rise 13 per cent to 64,000 this year, helped by lower prices as well as policy support that reduced the stamp duty for homes priced up to HK$4 million (US$512,000), said Wong Kin-yip, chairman of Midland Holdings, the parent company of Midland Realty. The value... https://www.scmp.com/business/article/3322974/hong-kong-home-sales-upwards-trajectory-four-year-high-agents-say?utm_source=rss_feed https://www.scmp.com/business/article/3322974/hong-kong-home-sales-upwards-trajectory-four-year-high-agents-say?utm_source=rss_feed Sun, 24 Aug 2025 10:00:18 +0000 Jess Ma Jess Ma Hong Kong building authorities have initiated 205 prosecutions against six people and two companies over alleged subpar steel reinforcement work at a CK Asset Holdings residential project after the city’s anti-corruption agency earlier uncovered suspected bribery in exchange for lax supervision. The Buildings Department said on Friday that it had received a report last August alleging that steel reinforcements of some structural elements at a construction site on Anderson Road had not been... https://www.scmp.com/news/hong-kong/law-and-crime/article/3322886/205-prosecutions-launched-over-subpar-steel-work-ck-asset-hong-kong-project?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3322886/205-prosecutions-launched-over-subpar-steel-work-ck-asset-hong-kong-project?utm_source=rss_feed Fri, 22 Aug 2025 15:06:55 +0000 Salina Li Salina Li Hong Kong Ferry Holdings is buying retail shops in the New Territories from Hong Kong’s “Cassette King” David Chan Ping-chi for HK$260 million (US$33 million) as part of an expansion of its property investment business. Prosper Link Investment, a wholly owned subsidiary of the company, entered into a provisional agreement with the seller, Man Hei International Investment, to acquire various shops at Tai Hung Fai (Tsuen Wan) Centre at 55 Chung On Street in Tsuen Wan, Hong Kong Ferry said in a... https://www.scmp.com/business/article/3322550/hong-kong-ferry-buys-new-territories-retail-space-us33-million-cassette-king?utm_source=rss_feed https://www.scmp.com/business/article/3322550/hong-kong-ferry-buys-new-territories-retail-space-us33-million-cassette-king?utm_source=rss_feed Wed, 20 Aug 2025 12:30:11 +0000 Peggy Sito Peggy Sito Hong Kong developers rushed to put more than 200 residential units on the market for sale on Friday, as they took advantage of the market’s anticipation of the first interest rate cut of 2025, which may take place as soon as mid-September. Most of the flats were offered at two locations on the Kowloon peninsula. A consortium led by Sino Land put up 109 units of Villa Garda II in Tseung Kwan O at between HK$14,245 and HK$17,940 per sq ft after discounts. In Kai Tak on the seafront runway of the... https://www.scmp.com/business/companies/article/3321942/hong-kong-developers-put-more-200-flats-sale-amid-interest-rate-optimism?utm_source=rss_feed https://www.scmp.com/business/companies/article/3321942/hong-kong-developers-put-more-200-flats-sale-amid-interest-rate-optimism?utm_source=rss_feed Fri, 15 Aug 2025 04:30:15 +0000 Julie Zhang Julie Zhang CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to a filing to the Hong Kong stock exchange on Thursday. The earnings were way below analysts’ expectations of about HK$14.2... https://www.scmp.com/business/banking-finance/article/3321886/ck-assets-first-half-profit-falls-26-amid-hong-kong-property-market-challenges?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321886/ck-assets-first-half-profit-falls-26-amid-hong-kong-property-market-challenges?utm_source=rss_feed Thu, 14 Aug 2025 11:03:56 +0000 Peggy Sito Peggy Sito Sino Land has won a residential site tender in Tuen Mun for HK$1.09 billion, beating major Hong Kong and mainland Chinese developers – including CK Asset Holdings, Kerry Properties and China Overseas Land & Investment – as the city’s housing market shows early signs of recovery. The transaction, which marked the Hong Kong government’s first residential plot sale this financial year, involved a site at Hoi Chu Road in Tuen Mun, a district in proximity to Shenzhen Bay. “The sought-after site... https://www.scmp.com/business/companies/article/3321760/sino-land-wins-tuen-mun-land-tender-hk1-billion-bid-amid-improved-housing-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3321760/sino-land-wins-tuen-mun-land-tender-hk1-billion-bid-amid-improved-housing-market?utm_source=rss_feed Wed, 13 Aug 2025 12:28:07 +0000 SCMP SCMP We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. China’s high-speed rail nears 50,000km milestone – but is it sustainable? After a construction boom spanning nearly two decades, China’s high-speed rail (HSR) network has made record-breaking strides. But to ensure long-term... https://www.scmp.com/news/world/article/3321059/chinas-proposed-drone-upgrades-landslide-taiwan-kills-family-scmps-7-highlights?utm_source=rss_feed https://www.scmp.com/news/world/article/3321059/chinas-proposed-drone-upgrades-landslide-taiwan-kills-family-scmps-7-highlights?utm_source=rss_feed Fri, 08 Aug 2025 04:15:09 +0000 Aileen Chuang Aileen Chuang The Tsz Shan Monastery, built by the Li Ka Shing Foundation, has published a new book, offering a peek into the philosophy and wisdom of Hong Kong’s wealthiest man, whose own rags-to-riches life story has inspired generations of entrepreneurs. Titled “Eternity in Light”, the five-chapter tome was published to mark the monastery’s 10th anniversary, featuring writings by scholars of Buddhism and professors of architecture about the landmark in Tai Po in Hong Kong’s New Territories. The Li Ka Shing... https://www.scmp.com/business/companies/article/3321003/tsz-shan-publishes-10th-anniversary-book-offering-peek-li-ka-shings-philosophy?utm_source=rss_feed https://www.scmp.com/business/companies/article/3321003/tsz-shan-publishes-10th-anniversary-book-offering-peek-li-ka-shings-philosophy?utm_source=rss_feed Thu, 07 Aug 2025 00:30:10 +0000 Peggy Sito Peggy Sito Victor Li Tzar-kuoi’s denial this week that his family home was being sold has stirred public curiosity about the address that has been the residence of one of Hong Kong’s wealthiest families and property developers for more than six decades. Located at 79 Deep Water Bay Road in the Southern district of Hong Kong Island, the mansion features three stories that sit atop an elevated podium with a swimming pool and a lawn to one side. The original building was bought in 1963 for HK$650,000 by Chong... https://www.scmp.com/business/companies/article/3320812/revealed-li-ka-shings-family-home-6-decades-and-subject-fabricated-rumours?utm_source=rss_feed https://www.scmp.com/business/companies/article/3320812/revealed-li-ka-shings-family-home-6-decades-and-subject-fabricated-rumours?utm_source=rss_feed Tue, 05 Aug 2025 09:00:17 +0000 Yulu Ao Yulu Ao Hong Kong’s wealthiest family denied that their residence of more than half a century is up for sale, as CK Asset Holdings issued an unusual rebuttal of rumours that have circulated for days on social media. Social media speculation of the impending sale of 79 Deep Water Bay Road was “entirely fabricated”, “false” and “groundless,” CK Asset said in a statement on behalf of the company’s chairman and managing director, Victor Li Tzar-kuoi. “The reports and posts on certain websites and social... https://www.scmp.com/business/china-business/article/3320707/li-family-home-hong-kong-not-sale-ck-asset-says-rebuke-false-rumour?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3320707/li-family-home-hong-kong-not-sale-ck-asset-says-rebuke-false-rumour?utm_source=rss_feed Mon, 04 Aug 2025 10:38:10 +0000 Ng Kang-chung Ng Kang-chung Hong Kong’s development minister has suggested that local developers join hands with their mainland Chinese counterparts to take part in the Northern Metropolis border town megaproject using a new approach. Secretary for Development Bernadette Linn Hon-ho said on Saturday that the government was studying proposals submitted by various developers and aimed to put one or two large land parcels in the Northern Metropolis project up for tender in the second half of the year. Linn stressed that the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3316218/hong-kong-developers-eyeing-border-project-urged-link-mainland-firms?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3316218/hong-kong-developers-eyeing-border-project-urged-link-mainland-firms?utm_source=rss_feed Sat, 28 Jun 2025 09:56:09 +0000 Salina Li Salina Li A consortium led by New World Development (NWD) on Saturday will sell the first batch of flats in a new residential project on the south side of Hong Kong Island after pricing them below neighbouring developments. The announcement comes as property consultancy Knight Frank expects home prices in the city to remain under pressure as developers continue to offer hefty discounts to reduce their inventories amid ample supply. NWD said on Tuesday that 138 flats in the 447-unit Deep Water Pavilia... https://www.scmp.com/business/article/3313877/first-batch-flats-nwd-led-deep-water-pavilia-goes-sale-saturday?utm_source=rss_feed https://www.scmp.com/business/article/3313877/first-batch-flats-nwd-led-deep-water-pavilia-goes-sale-saturday?utm_source=rss_feed Tue, 10 Jun 2025 10:49:42 +0000 Salina Li Salina Li A consortium of builders led by New World Development (NWD) priced a new residential project on the south side of Hong Kong Island below all neighbouring developments, as the embattled company seeks to whittle down HK$124 billion (US$15.8 billion) in debt. The developers priced 101 flats in the 447-unit Deep Water Pavilia project in Wong Chuk Hang at HK$20,932 per square foot. That was about 3 per cent lower than the first price list of CK Asset Holdings’ nearby Blue Coast II in October, and it... https://www.scmp.com/business/article/3313219/new-world-development-and-partners-set-record-low-price-southside-hong-kong-flats?utm_source=rss_feed https://www.scmp.com/business/article/3313219/new-world-development-and-partners-set-record-low-price-southside-hong-kong-flats?utm_source=rss_feed Thu, 05 Jun 2025 10:45:08 +0000 Salina Li Salina Li Hong Kong’s commercial market declines have left some of the city’s once-prosperous veteran investors struggling financially, with experts expecting distressed sales to continue amid plunging property valuations. In April, receivers took over the luxury detached mansion in Pok Fu Lam where “Cassette King” David Chan Ping-chi and his family had lived since the 1980s, marketing it for HK$430 million (US$54.8 million) last week. Chan, who defaulted on a loan of about HK$350 million from Fubon Bank... https://www.scmp.com/business/article/3312592/riches-rags-hong-kongs-veteran-property-investors-grapple-market-downturn?utm_source=rss_feed https://www.scmp.com/business/article/3312592/riches-rags-hong-kongs-veteran-property-investors-grapple-market-downturn?utm_source=rss_feed Sun, 01 Jun 2025 03:00:22 +0000 Vivian Au Vivian Au A Hong Kong construction industry leader has called on professionals to use electronic signatures for safety documents to help prevent fraud, after authorities uncovered a suspected bribery scandal involving a residential project in Kwun Tong. Earlier this week, the Independent Commission Against Corruption (ICAC) alleged that subcontractors had offered bribes to supervisors to turn a blind eye to subpar steel reinforcement works at a residential project handled by real estate giant CK Asset... https://www.scmp.com/news/hong-kong/society/article/3311652/safety-documents-hong-kong-construction-sites-should-require-e-signatures?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3311652/safety-documents-hong-kong-construction-sites-should-require-e-signatures?utm_source=rss_feed Sat, 24 May 2025 05:41:59 +0000 SCMP Editorial SCMP Editorial The structural integrity of major housing projects is paramount to public safety and confidence in construction standards. Revelations of defects are thankfully rare in Hong Kong. When they arise they warrant full public scrutiny and accountability. A case in point is a bribery scandal at a CK Asset Holdings’ residential project at Kwun Tong uncovered by the city’s graft-buster. The Independent Commission Against Corruption (ICAC) alleges site supervisors accepted offers, including red packets... https://www.scmp.com/opinion/comment/article/3311450/public-needs-answers-alleged-corruption-kowloon-flats-site?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3311450/public-needs-answers-alleged-corruption-kowloon-flats-site?utm_source=rss_feed Fri, 23 May 2025 00:15:07 +0000 Salina Li Salina Li CK Asset Holdings, the flagship property developer of Hong Kong billionaire Li Ka-shing’s family, will weather the “doldrums” in the city’s commercial leasing market amid global economic uncertainties, according to chairman Victor Li Tzar-kuoi. “No industry in this world is always well-performing, and demand for Hong Kong’s retail and office properties is indeed slow at the moment,” the eldest son of Li Ka-shing said during the company’s annual general meeting on Thursday. “With approximately 88... https://www.scmp.com/business/article/3311405/hong-kong-developer-ck-asset-set-weather-stress-test-conditions-chairman-says?utm_source=rss_feed https://www.scmp.com/business/article/3311405/hong-kong-developer-ck-asset-set-weather-stress-test-conditions-chairman-says?utm_source=rss_feed Thu, 22 May 2025 11:01:07 +0000 Edith Lin Edith Lin A CK Asset residential project in Hong Kong is in the spotlight after the anti-corruption agency arrested 10 suspects and uncovered subcontractors allegedly offering incentives to site supervisors in exchange for lax oversight of subpar steel reinforcement work. The latest bribery scandal is not the only hiccup for the project in Kwun Tong, which had its contractor changed in 2023 and its presale consent application rejected twice last year. The Post tracks the project’s development and... https://www.scmp.com/news/hong-kong/society/article/3311396/ck-assets-anderson-road-project-scandal-hong-kong-timeline-events?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3311396/ck-assets-anderson-road-project-scandal-hong-kong-timeline-events?utm_source=rss_feed Thu, 22 May 2025 10:36:39 +0000 Vivian Au Vivian Au A bribery scandal involving a 10 per cent shortfall in the number of steel reinforcement bars in a residential project under Hong Kong real estate giant CK Asset is the result of collective and wilful oversight at the construction site, independent engineers have said. The engineers said on Thursday that the case was rare, but they agreed the government should step up inspections at construction sites. The Independent Commission Against Corruption said on Wednesday it had arrested 10 people... https://www.scmp.com/news/hong-kong/society/article/3311334/collective-oversight-blame-hong-kongs-ck-asset-building-scandal-experts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3311334/collective-oversight-blame-hong-kongs-ck-asset-building-scandal-experts?utm_source=rss_feed Thu, 22 May 2025 05:11:23 +0000 Danny Mok Danny Mok A CK Asset residential project in Hong Kong has been caught up in a bribery scandal after the city’s graft-buster uncovered subcontractors allegedly offering incentives to site supervisors in exchange for lax oversight of subpar steel reinforcement work. The Independent Commission Against Corruption (ICAC) said on Wednesday that of 10 suspects, aged 29 to 52, arrested in connection with the case, one was an employee of the main contractor, five were proprietors, operators or employees of some... https://www.scmp.com/news/hong-kong/law-and-crime/article/3311258/10-arrested-hong-kong-bribery-case-centred-ck-asset-development?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3311258/10-arrested-hong-kong-bribery-case-centred-ck-asset-development?utm_source=rss_feed Wed, 21 May 2025 11:43:49 +0000