Home 

Hong Kong developer Wheelock cuts price of new project, sparks fears of faster-than-expected correction in property market

Hong Kong developer Wheelock Properties has sparked fears of a faster-than-expected correction in the world’s most expensive property market by pricing a new project in Tseung Kwan O 8 per cent below properties sold in the area just two months ago.It has priced a first batch of 130 flats at the 674-unit Marini development, in Lohas Park, at an average of HK$14,997 (US$1,912.9) per square foot, after a 21.5 per cent discount.“The social unrest in the past two months has had a significant impact… Source link

Read More
Property 

Hong Kong’s protest rallies force Thai developer to defer sales launch of ultra luxury apartments in Bangkok

Magnolia Quality Development Corporation, the developer of an ultra luxury apartment complex in Thailand, said it had to put off the marketing plan to sell the remaining units of its project in Hong Kong, as 11 weeks of protest rallies in the city showed no signs of letting up.At The Residences at Mandarin Oriental in Bangkok, a 52-storey ultra-luxury condominium completed last week, about 30 per cent had been sold to foreign buyers, of which the majority were from Hong Kong and mainland China… Source link

Read More
Home 

Hong Kong developer Nan Fung launches arthritis and cancer biosimilars joint venture with Korean biopharmaceutical firm

Hong Kong-based property developer Nan Fung deepened its diversification into health care with the announcement on Friday of a joint venture that will produce and sell in mainland China biosimilar versions of medicines used to treat arthritis and cancers.Shanghai-based Vcell Healthcare Limited, set up in collaboration with South Korean biopharmaceutical company Celltrion, will own the rights to develop, manufacture and commercialise three of Celltrion’s major biosimilars – Remsima, Truxima and… Source link

Read More
Home 

Developer of some of Hong Kong’s smallest abodes may have sold at a loss just to clear the flats off its books to avoid vacancy tax

Mainland property developers that arrived late to Hong Kong are discovering not everything always ends well when it comes to risk taking in the world’s least affordable market for home ownership.Chinese developer Jiayuan International Group appears on track for a slim profit or even a loss in its first residential property investment in the city. The developer gave discounts of up to 37.6 per cent at T-Plus, a residential development in Tuen Mun featuring “micro homes”.The new price list,… Source link

Read More
Home 

Chinese Estates’ Joseph Lau pockets US$2 million paper gain after buying shares of troubled developer Future Land

Joseph Lau Luen-hung, the Hong Kong billionaire owner of Chinese Estates Holdings, is estimated to have pocketed HK$15 million (US$1.9 million) of paper gains in a week through an astute punt in one of China’s biggest real estate developers.Fair Eagle Securities, a wholly-owned unit of Chinese Estates, bought nearly 40.9 million shares of Future Land Development Holdings on the Hong Kong stock exchange at HK$7.19 per share on July 4, according to the Hong Kong stock exchange’s CCASS… Source link

Read More
Home 

Prices of micro flats at T-Plus in Tuen Mun slashed by 38 per cent as developer looks to lure back buyers

The developer of a micro flat project in Hong Kong has cut the price of flats that are smaller than a car parking space by 38 per cent, after managing to sell only two units during the initial launch in December.Prices were unveiled on Thursday for 36 flats at the T-Plus project in Tuen Mun, jointly developed by ­Jiayuan International Group and Stan Group,starting at HK$1.73 million (US$222,200), which makes it the cheapest property in the city since CK Asset Holdings sold 165 sq ft units at… Source link

Read More
Property 

Demand for Hong Kong developer Wing Tai’s Oma Oma project pushes residential property sales to ‘one of the best weekends this year’

Hong Kong property developer Wing Tai Properties said on Sunday it had sold about 70 per cent of apartments on offer at its new Oma Oma development in Tuen Mun, rounding off what could be one of the most successful weekends for residential property sales in the city this year.Buyers had snapped up 130 units out of the 193 on offer at Oma Oma as of 5pm, a day after Wheelock Properties sold all 504 Grand Montara apartments in Tseung Kwan O, in Hong Kong’s third-biggest weekend launch this year……

Read More
Singapore 

Chatroom: Singaporean indie games developer Joysteak Studios on birbs, burnout, and mental health, Digital, Singapore News

Born in 2017, Joysteak Studios is a three-man squad of NUS graduates: Muhammad Hanif, Tan Kang Soon, and Chue Sai Hou. The trio has been working on an insanely adorable musical platformer, Songbird Symphony, which finally gets to leave its nest on July 25 this year. So far, the award-winning game has already received praise from Waypoint and Alpha Beta Gamer for its relatable, heartfelt story about Birb, a lonely chick with an identity crisis. Players guide Birb on a journey to find out who and what he is, all…

Read More
Home 

Logistics developer ESR Cayman scrubs Hong Kong IPO amid ‘market uncertainties’

Logistics real estate developer ESR Cayman said on Thursday it would postpone its proposal to list on the Hong Kong stock exchange, becoming the latest company to scale back plans amid escalating tensions related to the city’s controversial extradition bill and the trade battle between the world’s two biggest economies.“In light of the current market conditions, the company, having consulted the joint global coordinators, has decided that the global offering will not proceed at this time,”… Source link

Read More
Home 

Hong Kong developer walks away from Kai Tak project, citing ‘social contradiction and economic instability’

The Hong Kong developer that beat out several of the city’s biggest and wealthiest property groups for a commercial plot at the former Kai Tak Airport in May has had a change of mind after less than a month, saying it will abandon the offer, citing “social contradiction and economic instability”.Goldin Financial Holdings told a telephone conference on Tuesday that it was rescinding its HK$11.1 billion (US$1.42 billion) winning bid for C Site 4 at Kai Tak at the city’s former airport, forfeiting… Source link

Read More