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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

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Property 

New ‘tiny home’ benchmark for Kowloon as developer rolls out Sham Shui Po project in layouts beginning at 129 sq ft

Hong Kong’s Kowloon district is about to realise a new benchmark for tiny home sizes that will test the market’s tolerance for what’s considered liveable space, with one developer set to launch a project in Sham Shui Po featuring layouts starting at 129 square feet, the smallest on record for the area. The 22-storey residential block named AVA 228 will feature 160 units with sizes ranging from 129 sq ft to 249 sq ft, according to the website of Magic Sight Holdings, a privately held developer owned by property investor…

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Property 

Grand Central flats in East Kowloon nearly sell out, giving Sino Land a strong finish to rocky year for developers

Hong Kong developer Sino Land is closing the year on positive note, after buyers snapped up close to 90 per cent of its flats for sale on Saturday. About 180 of the 208 units the company released at the fourth round sale of its Grand Central residential project in Kwun Tong in East Kowloon were sold as of 3pm. The year-end offer had drawn registrations from 1,500 prospective buyers, making it more than six times oversubscribed. Although not all were sold, the figure is a “strong” one given the market…

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Property 

Kowloon to welcome back ‘Regent’ name, as part of InterContinental Hotel revamp

Hong Kong’s harbour-facing InterContinental Hotel in Kowloon will hike up its prices after being rebranded as its original name, the upscale “Regent”, and reopened in 2021, which analysts say reflects a trend towards more luxury offerings in the city. Average daily rates at the hotel, situated in the bustling Tsim Sha Tsui district on the edge of Victoria Harbour, could increase by as much as 40 per cent as the British multinational InterContinental Hotels Group (IHG) seeks to build a more upmarket image, according to Jolyon Bulley, chief executive of…

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