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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 

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

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Soho China, struggling with flagging profits and stock price, put up US$1.13 billion office assets for sale

Soho China, one of the country’s largest commercial developers, is putting 7.8 billion yuan (US$1.13 billion) of office assets up for sale, making its biggest disposal in the company’s two-decade history to raises capital to buy land to expand its land bank.The developer on Friday put 20,000 square metres of office space in five Beijing and Shanghai projects on the market.The move conflicts with a pledge by its chairman Pan Shiyi a year ago not to sell core assets in either of the two mainland… Source link

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A shareholder’s stake sale plan stops the bull run in China’s best-performing brokerage stock CSC Financial

The bull run in CSC Financial, this year’s best performer among China’s brokerage stocks, was stopped in its tracks as a disposal plan by its fourth-biggest shareholder raised concern that the country’s financial-services companies may already be overvalued.Citic Securities, China’s largest public traded broker, said it plans to sell 427 million shares, or 5.6 per cent of CSC Financial, in the secondary market in the next six months to meet its operational needs, according to a June 25… Source link

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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

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Weak response among property firms to Kai Tak residential plot a week after sale was cancelled due to Hong Kong protests

A residential plot at Hong Kong’s old airport received a lukewarm response from developers on Friday, with only about five bids submitted for the oceanfront piece of land by 7pm.The sale of Area 4C Site 1 on the Kai Tak runway was postponed last week because of mass protests in Hong Kong. The plot could yield 714,374 sq ft of gross floor area for an estimated HK$20,000 (US$2,560) per square foot, and is expected to set a price record.“It is a really bad reaction for a plot at such a…

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Singapore 

HDB SBF & ROF – complete guide to applying for Sale of Balance flats, Lifestyle, Singapore News

With HDB BTOs, it’s a leap of faith. All you really need to do is to choose your preferred location and flat size. HDB provides just the generic map, so you just have to hope that it’ll live up to your expectations. But with the SBF, HDB provides a ton of information, right down to the block number (so you know exactly where it is), unit number (so you know which floor it’s on), and the ethnic quota (so you know whether you got chance or not). Plus each batch…

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Singapore 

Singapore has 6 of 11 ‘super penthouses’ now on sale in the world: List Sotheby’s, Business, Singapore News

SINGAPORE – Of the 11 super penthouses around the world now on the market, six are in Singapore, based on listings from 2016 to April 2019, List Sotheby’s International Realty (List SIR) said on Wednesday (June 19). The biggest of these “super penthouses” in Singapore is in Wallich Residence, with a floor area of 21,108 sq ft and a building height of 950 ft. Spanning levels 62 to 64, the property has five bedrooms, a family room, a viewing deck, a private garden, a 12m pool, a cabana, a jacuzzi,…

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CK Asset sells 44 per cent of flats during weekend sale at Shanghai residential project as location, price controls draw buyers

Beijing’s policy of imposing curbs on how much developers can charge for homes has helped ignite sales, especially on the upper end of the market, as buyers snapped up nearly 500 units of a prime project in Shanghai at prices 10 per cent lower than a similar project.The sale, which took place at CK Asset Holdings’ project Upper West Shanghai, bodes well for other prime projects with artificially low prices, analysts said.CK Asset, which has two projects underway in Shanghai, netted 4.3 billion… Source link

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‘Chinese pig’ remark lands UBS in trouble as state firm excludes Swiss bank from bond sale

One of China’s biggest state-owned infrastructure companies excluded UBS Group from a bond deal after the bank’s global chief economist sparked a furore with his use of the phrase “Chinese pig”.China Railway Construction Corp decided against hiring UBS as a joint global coordinator on a dollar-bond sale, a CRCC spokesman said. The decision was prompted by last week’s pig remark, sources said earlier. UBS declined to comment.CRCC is the first known corporate issuer to distance itself from UBS… Source link

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