Property 

Hong Kong’s top builders spot a bargain as they submit tenders for Kai Tak plot whose value has been slashed

The tender for a plot in Kai Tak on Friday attracted better-than-expected response as one surveyor cut the estimated value of commercial land on the site of Hong Kong’s former airport by up to 20 per cent after a high-profile sale was abandoned in June.The Lands Department said on Friday that 10 developers submitted bids.The Post found that the bidders included Sun Hung Kai Properties, CK Asset Holdings, Wheelock Properties, Sino Land, China Overseas Land& Investment, Great Eagle Holdings, Far… Source link

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Property 

Wharf Holdings warns China’s stringent property curbs could weigh on future profit

Hong Kong-listed Wharf Holdings, a leading developer in China with 100 billion yuan (US$14.2 billion) worth of assets, said mounting curbs in the mainland’s housing market could seriously affect its profitability, as it posted a 12 per cent drop in first-half underlying profit.The company’s underlying profit stood at HK$2.24 billion (US$285 million) for the six months ended June 30 versus HK$2.53 billion a year earlier.“This year, we see the severity of the curbs is even more higher,… Source link

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Property 

First Philippine Reits likely to be listed by year-end as government relaxes rules in decade-old law

The Philippines could see real estate investment trusts take off this year after the government amends a Reit law passed more than a decade ago, addressing investor concerns, say industry observers. “Reits are likely to be implemented this year as the government has agreed to relax the law’s restrictive rules,” said Joey Bondoc, senior research manager for Philippines at Colliers. “Colliers believes that more firms are likely to tap Reits once the law’s implementing rules and regulations are… Source link

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Property 

Property buyers snap up Great Eagle Holdings’ flats in Tai Po even as two simultaneous rallies rattle Hong Kong’s nerves

Hong Kong investors have snapped up the latest launch of small flats, as the first interest rate cut in more than a decade persuaded buyers to set aside concerns of rising political instability, even as protesters held two opposing rallies simultaneously across the city.Great Eagle Holdings sold 119 flats, or 96 per cent of 124 flats on offer at its Ontolo complex in Pak Shek Kok of Tai Po as at 3pm, according to sales agents, who predicted that the developer would chalk up a second weekend of… Source link

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Property 

Chinese Estates sells no property but swings to profit in first half amid gains on investments

Chinese Estates, developer of No. 55 Conduit Road, has transitioned from a property group into an investment holding company, as indicated by its results announcement for the first half of 2019. The last property sold by the company was at the Conduit Road development in January 2018. Photo: SCMP/Sam Tsang Source link

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Property 

Singapore’s new homes widen their price gap over older real estate, buoyed by interest from foreign buyers

As the political unrest in Hong Kong has taken a violent turn, there is growing unease among the wealthy. A side-effect has been an increase in enquiries and expressions of interest about buying residential property in Singapore from private bankers in Hong Kong, according to some property agents.“It’s not just private bankers inquiring on behalf of their clients in Greater China including Hong Kong, but the private bankers themselves are house-hunting in Singapore too,” said Ken Low, managing… Source link

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Property 

Hong Kong’s Henderson Land ranks No 1 in micro flat sales during the first half, beating out all other developers by a wide margin

Henderson Land Development has emerged as the city’s largest developer of “micro flats” in the first half, underscoring the popularity of cheaper housing among investors and those seeking to get a start on the housing ladder.Henderson, owned by Hong Kong’s wealthiest man Lee Shau-kee, sold 351 micro flats, typically defined as units with floor area less than 200 square feet, in the six months ended in June, generating revenue of HK$1.67 billion (US$213 million), according to data provider… Source link

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Property 

Allianz and Gaw Capital buy iconic office, shopping complex in Singapore for US$1.2 billion amid ‘flurry’ of investment in city state

Hong Kong-based Gaw Capital and Allianz Real Estate have bought part of an iconic mixed-use development in Singapore for S$1.6 billion (US$1.17 billion), in the city state’s largest private sector office sale in almost two years.They acquired Duo Tower, a high-rise office building and Duo Galleria, the neighbouring shopping mall, from M+S Pte, a partnership between state-owned entities of Malaysia and Singapore.The eye-catching hexagonal plated towers form a distinctive part of Singapore’s… Source link

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Hong Kong property transactions drop by 48 per cent to yearly low, deposits worth HK$3.5 million forfeited as protests weigh on sentiment

Hong Kong homebuyers are having second thoughts about the biggest purchase of their lives, as nearly two months of unprecedented public unrest cast a pall over the city’s real-estate market.Weekly transactions involving used homes fell to their lowest level this year on Sunday, according to one of the city’s largest real-estate agencies, while a dozen buyers last week decided against completing contracts for new homes worth more than HK$70 million (US$8.9 million), forfeiting more than HK$3.5… Source link

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Property 

China’s top property developers to get bigger amid tightened funding, with mid and small firms forced to sell assets to survive

The latest tightening in funding might drive a fresh round of consolidation among mainland Chinese property developers, with an acceleration in acquisition of land and assets by the biggest players, analysts said.The biggest developers are expected to grow at the expense of smaller rivals, with their performance increasingly deviating from the industry average.“Foreign investors are too bearish about Chinese developers … they see slower sales and heightened government curbs. But what they may… Source link

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