Topic
Henderson Land Development Co. Ltd. (HK stock code 0012) is a Hong Kong-based property company and constituent of the benchmark Hang Seng Index. Henderson Land focuses on property development and investment, project management, construction, hotel operation, department store operation, finance, investment holding and infrastructure.
Low-rise plans for site costing record auction price of HK$58.8 billion are a vote of confidence for the Central business district and promise greater public enjoyment.
As the city’s second richest man retires, and another tycoon leaves jail to hand business over to his son, local developers are being eclipsed by the inflow of red capital from the connections they enjoyed
Clips of brawling real estate agents at a luxury Hong Kong mall go viral and, despite industry claims of supervision and security, show the pressure such lowly workers are under
- Kevin Ching, the CEO of Sotheby’s in Asia, is joining his former competitor as Asia chairman
- Christie’s move from Alexandra House to The Henderson will allow it to host year-round auctions in its own space
Henderson Land said in an exchange filing that the decrease in underlying profit was partly due to an attributable gain of HK$1.8 billion, which was recognised in the previous year.
The supply of new homes could more than double compared with this year, driving developers to slash prices by 10 per cent or more to attract buyers amid historically high interest rates, analysts say.
As in the years from 1997 to 2003, a struggling housing market, slowing economy and surging interest rates are making the debt levels of the city’s home builders a cause for concern.
Authorities have given the greenlight to three housing projects under a pilot scheme launched by former chief executive Carrie Lam in 2019.
Weekend sales at three property projects in Hong Kong were tepid on Saturday, as homebuyers take a “wait and see” approach with prices expected to fall.
The state-backed real estate giant’s announcement comes as President Xi Jinping underscores the critical role of Hong Kong during the Chinese Communist Party’s 20th national congress in Beijing.
Temporary homes only brief respite for families who end up renting tiny subdivided spaces again.
Local homebuyers are taking a wait-and-see approach ahead of major policy announcements in Hong Kong and the mainland, and a further rise in interest rates.
The scrapping of hotel quarantine requirements and a relaxation of mortgage rules boosted sales of cheaper new homes in the Northern Metropolis area, said analysts, as young buyers snapped up flats priced from HK$3.07 million (US$391,085) each.
As of 7pm only two out of 139 units on offer at the development on the site of Hong Kong’s former airport had been sold, according to Sammy Po of Midland Realty.
Only about 30 per cent, or 41 of the 137 flats on sale at Miami Quay in Kai Tak have been sold, according to agents.
The average price of second-hand homes have fallen in Hong Kong, as a resurgent Covid-19 outbreak – and the quarantine rules to contain it – has driven the city into a technical recession.
Rezoning of commercial sites, appearance of Covid-19 facility raise questions about new ‘CBD2’.
Henderson Land Development, one of Hong Kong’s biggest property developers, reported a 34 per cent year-on-year decline in first-half profit to HK$5.1 billion (US$654.6 million) on Tuesday.
Hong Kong’s Henderson Land Development sold all flats at its One Innovale-Archway project in Fanling for a second consecutive weekend on Sunday, showing that demand remained strong despite rising interest rates.
More than 24,000 potential buyers had registered to buy a total of 321 flats at Henderson Land’s One Innovale-Archway in Fanling and Sun Hung Kai Properties’ Novo Land in Tuen Mun.
With 666 flats for sale on Saturday, Hong Kong saw the most units for sale in a single weekend in two years.
HSBC, Standard Chartered, Bank of China (Hong Kong) and Hang Seng Bank kept their prime rates unchanged this week, even after the city’s de facto central bank raised its base rate by 75 basis points.
Topping off the higher rates is a bulging pipeline of new flats – estimated at 12,646 in 2022 by JLL – waiting to find buyers.
“We agree that Hong Kong should boost the supply of land in both quantity and quality, as mentioned by chief executive-elect John Lee,” Martin Lee Ka-shing, Henderson Land’s co-chairman and Lee Shau-kee’s younger son, said at an annual general meeting held on Wednesday.
The lukewarm response was in stark contrast to Friday’s bumper sale at Grand Mayfair in Yuen Long, where more than 90 per cent of 428 flats on offer were snapped up.
Henderson Land, which has spent over 20 years and billions of dollars on the 2,800-unit Baker Circle redevelopment project in Hung Hom, is likely to launch the first phase in June.
Henderson Land sold 51 units out of 138 on offer at The Quinn Square Mile, as young buyers unleash pent up demand by snapping up small flats.
The Hong Kong government rejected all five bids received for a 1.3 million square feet residential site in Tuen Mun, as all tenders came in below the reserve price.
The expected releases would mark the busiest quarter in nine months, as the ebb and flow of the Covid-19 disease sent the world’s most expensive residential property market into bouts of activity and torpor.
The fifth wave of coronavirus, and Russia’s invasion of Ukraine which triggered sanctions that have hit global trade, are likely to subdue Hong Kong’s economic recovery, the developer’s chairmen warn.
