Home 

Hong Kong land sale at former Kowloon airport receives muted response from developers

The largest residential site at Hong Kong’s former Kai Tak airport received fewer than expected bids when a government tender closed at noon on Friday, as property developers take a more cautions stance on the local property market following recent downgrades to the city’s economic outlook.The plot designated Area 4A Site 1, located on the former runway with a gross floor area of 1.08 million square feet, received at least four known bids from CK Asset Holdings, Sun Hung Kai Properties, a… Source link

Read More
Property 

Developers set to unleash 817 flats in the biggest weekend sale since extradition bill protests rocked Hong Kong

Property sales are back in full swing. Six developers are selling 817 units, including Hong Kong’s smallest flat, in the biggest weekend sale since protests against the controversial extradition bill started in early June.Louis Chan, vice-chairman of Asia-Pacific and chief executive of residential division at Centaline Property Agency, said market sentiment has improved as tensions have eased between the US and China after the G20 summit and anticipation that possible interest rate cuts by the… Source link

Read More
Home 

Hong Kong developers ramp up sales as buyers cheer signs of easing in US-China trade tensions

Property developers are preparing to accelerate the marketing of new projects, taking advantage of brightening market sentiment after an apparent warming in relations between the US and China following weekend talks at the Group of 20 summit in Japan.At last weekend’s sales, buyers snapped up almost 700 flats at projects that included Wheelock Properties’ Grand Montara in Tseung Kwan O and Wing Tai Properties’ Oma Oma in Tuen Mun.Agents attributed the buoyant reception to improved prospects for… Source link

Read More
Property 

Sales at China’s top 100 developers slow down in the first half as property curbs bite

Sales at China’s top 100 developers slowed significantly in the first half, and the outlook for the second half remains weak amid a tightening of home buying restrictions and a funding squeeze on builders in place since May, a report from property consultancy CRIC showed on Monday.Excluding revenue from jointly developed projects, contracted sales at these 100 companies rose 4 per cent year on year to 3.9 trillion yuan (US$570 billion) in the first six months, a sharp drop from the 37.6 per… Source link

Read More
Property 

Hong Kong’s new business hub at Kai Tak may fall years late as developers turn skittish

The bold vision to transform the former Kai Tak airport site into a second major business hub in Kowloon East may have to be put on hold for a while, as confidence in the project has been dealt a blow after a local developer judged it too risky to proceed with the purchase of a HK$11.1 billion (US$1.42 billion) site, according to industry experts.The government may opt to defer the sale of some commercial sites at the city’s former airport by up to two years until sentiment improves, a delay……

Read More
Home 

Chinese developers snap up discounted Kai Tak land as Hong Kong’s mood for property sours amid protest rallies and trade war

Two mainland Chinese developers bought a plot of residential land on the runway of Hong Kong’s former Kai Tak airport, paying a lower-than-expected price for the oceanfront property as the city’s biggest public protests in decades sapped appetite for investments amid a US-China trade war.China Resources Land and Poly Property Group, two real estate units that belong to two of China’s largest state conglomerates, won a tender for the second-biggest parcel of land that is earmarked for building… Source link

Read More
Home 

Shenzhen’s largest residential land sale since 2001 draws the attention of more than 80 Chinese and Hong Kong developers

More than 80 Chinese and Hong Kong developers are expected to engage in fierce bidding when the tender for five residential sites in Shenzhen opens on Monday, as the city known for its scarce land supply, auctions the largest volume of land in a single day in nearly two decades.The auction will test developers’ financial resolve as they look to bolster their position in Shenzhen, a key technology hub in the Greater Bay Area that integrates nine cities in Guangdong province with Hong Kong and… Source link

Read More
Home 

Hong Kong developers hope to put recent setbacks behind them as they launch projects at discounts of up to 20 per cent

Hong Kong developers, taking advantage of the calm that has returned to the city, on Thursday launched projects at prices that undercut rivals by up to 20 per cent, hoping to attract buyers who have adopted a cautious approach.Wing Tai Properties said it would sell flats at OMA OMA in Tuen Mun at an average price of HK$12,463 per square foot, some 20 per cent lower than Sun Hung Kai Properties’ Mount Regency phase two, which is also in the same area. The city’s largest developer is putting 130… Source…

Read More
Home 

What’s in a name? It’s plenty for China’s hoteliers and property developers, if the brand is too ‘big, foreign or weird’

China’s property developers and hoteliers are bearing the brunt of a government edict to standardise location names, as tens of thousands of apartment projects, hotels, townships, communities and office towers across several provinces are forced to rename and rebrand themselves.The edict was the result of a 2018 policy by six government departments to get rid of “Big, Foreign, Weird” names, and names that played on homonyms. The policy required the country’s provincial and county authorities to… Source link

Read More
Home 

Ratings agency S&P warns of risks from aggressive land banking by Chinese developers

The rush by Chinese real estate developers to rebuild their land banks during the recent property revival could expose those with weaker capital positions to problems as bond repayments come due, S&P Global Ratings said in a research note on Wednesday.The rating agency said it was most concerned about real estate companies with thin land reserves, as these groups have been active in building up reserves in step with the rising market since March.“Given the strength of the market, developers… Source link

Read More