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Homebuyers snap up more than 90 per cent of Cullinan West III project after Sun Hung Kai offers steep discount

Homebuyers took advantage of steep discounts and snapped up more than 90 per cent of the 352 flats Sun Hung Kai Properties, Hong Kong’s biggest developer, had on sale at its The Cullinan West III project on Thursday. Developers have been rushing to offload flats before the introduction of a vacancy tax, now expected as soon as January.The developer priced the latest batch of flats at the project at an average of HK$23,172 per square foot, up to 25 per cent below the prevailing market rate in… Source link

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Iconic dragon’s head building in Beijing once owned by fugitive Guo Wengui sells at big discount

An iconic Beijing office tower in the shape of a dragon’s head has been sold for a discount during an online auction, as bankers and creditors succeeded on their third attempt to dispose of the asset to recover some of the 3 billion yuan (US$425 million) owed by the fugitive Guo Wengui.Pangu Plaza Tower 5, which houses IBM China’s office next to the Bird’s Nest Olympic Stadium in the Chinese capital, was sold for 5.187 billion yuan during a 24-hour auction on Taobao, the country’s largest e… Source link

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Buyers shrug off Hong Kong rallies to snap up Aurora flats in Tsuen Wan, offered at 10 per cent discount to the neighbourhood

Homebuyers shrugged off a downpour and Hong Kong’s 11th week of street protests to snap up the flats offered at a discount by Billion Development & Project Management in Tsuen Wan.Billion sold 300 flats, or 85 per cent of the 354 available units on offer at The Aurora as at 5pm, sales agents said, adding that they expect the project to sell out by the end of the day.Prices at The Aurora start at HK$3.81 million (US$485,720), or HK$17,558 per square foot, for a 217-square foot (20 square metre)… Source…

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Far East picks up the smallest land plot at Kai Tak at discount, as public unrest deters developers from long-term investments

Hong Kong’s government sold the smallest land parcel at the former Kai Tak airport at a discount to market expectations, as the city’s 10 consecutive weeks of public unrest deterred developers from committing to long-term investments.The commercial site, located next to the Kai Tak Sports Park built over the former airfield, sold for HK$2.45 billion (US$312 million), 9.4 per cent less than the lower end of the HK$2.7 billion to HK$3.6 billion range that valuers were looking for. Far East… Source link

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Billion Development prices Tsuen Wan project at 10pc discount to lived-in homes as Hong Kong’s property market reels from protests

Billion Development and Project Management on Tuesday released the first batch of flats at its Tsuen Wan project at discounts of up to 10 per cent to rates prevailing in the district, in the first sign that two months of unrest in Hong Kong is having an impact on property prices.The Hong Kong builder unveiled 238 flats at the 840-unit The Aurora in the western New Territories, even as sales of secondary homes dropped to a nine-month low, with 48 deals concluded last week, according to a report… Source link

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Property 

Hong Kong sells biggest plot of Kai Tak’s land at discount as city’s unrest drives investors to the sidelines and saps risk appetite

Hong Kong’s government sold the biggest plot of residential land at the former Kai Tak airport at lower than expected price, as seven consecutive weeks of increasingly violent street protests drove many developers to the sidelines and sapped their appetite for long-term investments.Dragon Star H.K. Investments, a consortium of three major developers, paid HK$12.74 billion (US$1.63 billion), or HK$11,841.70 per square foot, for Kai Tak Area 4A Site 1, according to an announcement by the Lands… Source link

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Creditors put fugitive Guo Wengui’s dragon head-shaped Pangu Plaza on the auction block at a steep discount to recoup debt

The Pangu real estate project next to the Bird’s Nest Olympic Stadium in Beijing. Sitting along a north-south axis, the row of five buildings is led by the tallest tower, which resembled a dragon’s head, pointed southward. Sitting atop the next three towers are four siheyuan for each tower, as Beijing’s traditional courtyard houses are called. Tower 5, the dragon’s head, is going on the auction block on August 19. Photo: Wikipedia. Source link

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Bargain hunters flock to opening of Japanese discount chain Don Don Donki’s first shop in Hong Kong

Japanese discount chain Don Don Donki opened its first Hong Kong shop, in Tsim Sha Tsui, on Friday, attracting hundreds of tourists and locals eager to snap up a bargain.Located inside the Mira Place mall on Nathan Road, the bargain store featuring a wide range of products from groceries to make-up – like its Japanese counterparts – attracted hundreds to its grand opening.Don Quijote, the international chain store operator that came up with the concept of Don Don Donki for its Southeast Asian… Source link

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Singapore 

Good deals must share July 8-17: 90 cents LiHO milk tea, $10 Guardian Discount and other deals, Lifestyle, Singapore News

We scour the island for the best deals to help you stretch your dollar, and keep you in the loop on the hottest shopping trends. ‘Cos good things must share. 90 CENTS LIHO MILK TEA  Singaporeans can’t seem to get enough of bubble milk tea, but it’s oh-so-expensive to drink it every day.  To make your milk tea drinking habit a little easier on the wallet and to celebrate LiHO’s recent outlet openings, the bubble tea chain is offering its 90 cents milk tea at its five new outlets. The 90 cents milk tea is…

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Singapore 

Coffee Bean & Tea Leaf apologises for gaffe in SAF Day discount promotional artwork, Singapore News

SINGAPORE – The Singapore chain of Coffee Bean & Tea Leaf has apologised for a blunder in its original promotional artwork to mark SAF Day, which featured a soldier in uniform. The coffee chain is offering a 50 per cent discount for its small ice blended drinks for national servicemen (NSmen) who show their 11B card or wear their uniforms at outlets islandwide from next Monday (July 1) to Sunday. However, the image drew the ire of social media users, who pointed out that the solder did not appear to…

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