With Hong Kong set to face a shortage of over 60,000 residences for the elderly by 2032, the government needs to create enough accommodation to defuse the ‘huge social problem’, according to JLL’s Wendy Chan.
The long queues were a welcomed sight for Hong Kong’s developers and agents, as rising rates combined with the Covid-19 pandemic to knock the city’s property bull market off its footing.
Land tender documents found to have clauses to warn potential buyers of disqualification for national security breaches
CLP will upgrade the air-conditioning system at Chinachem’s Nina Tower complex to a water-cooled, AI-controlled system, and a CLP wind farm in southwest China will offset its carbon footprint.
Ecological conservation and smart technologies have helped Sun Hung Kai Properties sell more than 1,650 homes near Hong Kong’s Mai Po wetlands and generate over US$1.5 billion in revenue.
Hysan Development will spend HK$2 billion (US$256.2 million) to upgrade its Lee Gardens commercial portfolio in Hong Kong’s Causeway Bay and turn it into a one-stop luxury shopping destination.
Judge says persons supervising vast estate must be ‘fit and proper’ for task, stressing charitable purposes took precedence and foundation is merely conduit.
Hong Kong-based property firm Chinachem Group has bought the office building in London being leased by popular short video app TikTok for £158.5 million (US$182 million).
Hongkongers are living longer than ever before, exerting an increasing burden on the government as the expenditure on elderly services surged 82 per cent in the 12 months ending on March 31, 2023.
Property developers, who usually conduct their sales campaigns on weekends, have deferred the launch of new projects until the second quarter, when the current Covid-19 outbreak is expected to recede.
Major developers plan to replace some manual operations with technology to reduce human error and ensure safety and build quality after The Pavilia Farm fiasco.
The pickup in second-hand home prices points to a more positive outlook for the world’s most expensive real estate market.
The government is using a ‘two-envelope’ approach for the sale of New Central Harbourfront Site 3, meaning the winner will be determined by assessing both price and design proposal.
The dismal result followed a surge in coronavirus pandemic infections in Hong Kong, which kept more potential buyers at home and away from the sales venue, sales agents said.
The Hong Kong developer is changing its land-bidding strategy to focus on mass housing and move away from super-luxury trophy projects as it marks 60 years in the business.
As Asia’s third-largest capital market, Hong Kong is where hundreds of mainland Chinese companies go to raise capital, and where thousands of multinational companies locate their regional head offices or the doorstep of the world’s most populous consumer market.
Hong Kong forensics specialist and body language expert Kiki Wong talks about US President Donald Trump, Hong Kong Chief Executive Carrie Lam and working on will-forgery allegations involving late Chinachem boss Nina Wang.
Donald Choi, Chinachem’s CEO, said in an interview on the sidelines of the China Conference, which the South China Morning Post is hosting, that tenants who mainly targeted mainland Chinese tourists have been offered the favourable terms to power through the city’s worst ever economic recession on record.
While Citi says home prices should rise as Covid-19 concerns dissipate and buyers unleash pent up demand, CGS-CIMB Securities says correction is not yet over.
Chinachem Group manages to sell only four out of 144 units at its Sol City residential project in Yuen Long even after the developer raises the discount to 13.5 per cent from 7 per cent.
Market observers believe the flexible office market is here to stay, but it is due for a shake-up and see new business models emerging.
Monthly rent of US$741 for 60 sq ft of co-working space in Hong Kong already the highest among 14 cities in Asia-Pacific.
Hong Kong developer Chinachem Group is suing Kr Space, one of mainland China’s largest co-working space operators, after the company failed to take up seven floors at the One Hennessy building in Wan Chai, in breach of contract.
Sales at Hong Kong property developer Chinachem Group’s Sol City development got off to a slow start, and only a fifth of the 148 units on offer were sold, suggesting a correction in Hong Kong’s property market is far from over.
Chan, who has filed a civil lawsuit in mainland China, also says he has completed two distance learning courses from Baptist Theological Seminary since being jailed in 2013 and is now on his third one.