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First seafront commercial plot of land on Kai Tak runway sells for record HK$11.1 billion

The first seafront commercial plot of land on the runway of Hong Kong’s former airport, Kai Tak, has sold for a record HK$11.1 billion (US$1.41 billion), the city’s Lands Department said on Wednesday.Hong Kong developer Goldin Financial Holdings shrugged off the turmoil of an escalating trade war to win the tender for Kai Tak 4C Site 4, the second commercial plot on the runway to be offered for sale. At HK$12,888 per square foot, the sale was broadly in line with a forecast of HK$13,000 per… Source link

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‘Sandwich class’ flat in Tsing Yi sells for record US$1.2 million as Hong Kong homebuyers get desperate

Hong Kong homebuyers, desperate to get their hands on property after a short-lived price correction, are chasing real estate in an obscure segment of the market as a bull market takes hold.On Monday, a 706 square feet flat at the 24-year-old Tivoli Garden in Tsing Yi, New Territories, was sold for HK$10 million (US$1.27 million), or HK$14,164 per sq ft, making it the most expensive unit converted from government funded abodes under the Sandwich Class Housing Scheme.In the early 1990s, the… Source link

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Hong Kong developer Henderson Land sells a third of 101 units at Yuen Long project

Hong Kong developer Henderson Land sold about a third of the 101 apartments on offer at its Reach Summit project in Yuen Long on Tuesday, in further evidence a recovery in the city’s property market was taking hold after a five-month correction in prices.The apartments, ranging from 255 to 381 sq ft in area, were offered at an average discounted price of HK$16,088 per square foot, an increase of 1.3 per cent over the average price of HK$15,881 offered when the project was launched late last… Source link

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Hong Kong developer Henderson sells 76 out of 100 units at Cheung Sha Wan project without offering discounts

Hong Kong developer Henderson Land sold 76 out of the 100 units on offer at The Addition, a new residential project in Cheung Sha Wan, on Tuesday, without offering a discount on the selling price.The apartments, ranging from 220-277 sq ft in size, sold at an average selling price of HK$21,055 (US$2,683) per square foot. Most units were going for between HK$5 million and HK$6 million. Most apartments sold on Tuesday, the first day of sales, were one and two-bedroom units.Interest in the property… Source link

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Former Hong Kong airport site sells for low end of expectations, signalling caution as major developers scout for residential land

The largest residential site at Hong Kong’s former Kai Tak airport has been sold to a consortium of five major developers including Henderson Land Development and Wheelock Properties for HK$9.89 billion (US$1.26 billion), matching the low end of expectations as developers adopt a cautious market outlook.The Lands Department awarded the tender for the plot, which can yield 722,060 sq ft in gross floor area, to Infinite Sun on Tuesday.Other members of the alliance include China Overseas Land &… Source link

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Hapro sells Chu Đậu shares to BRG Group – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Chu Đậu pottery in Việt Nam. — VNA/VNS Photo Thống Nhất Viet Nam News HÀ NỘI — Hà Nội Trade Corporation (Hapro) is planning to transfer 420,000 shares in Chu Đậu Ceramic JSC to BRG Group JSC. Chu Đậu JSC is one of ten affiliates of Hapro. As of 2018, Hapro owned 51 per cent of Chu Đậu JSC. After the transfer, the corporation will hold 30 per cent. The shares, equivalent to 21 per cent of the company, will be sold for VNĐ13,500 each, or VNĐ5.67…

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Hainan Airlines sells two Boeing 737-800 planes for US$27.5 million to raise cash, after grounding 737 MAX 8

Hainan Airlines Group can’t seem to catch a break.China’s fourth-largest carrier, a unit of one of the country’s largest and most heavily indebted conglomerates, was in the midst of an asset disposal programme – selling everything from Hong Kong land parcels, slashing its Deutsche Bank stake to airliners – when a Boeing 737 MAX 8 operated by Ethiopian Airlines crashed this week.The tragedy, which killed 157 people on board – including eight Chinese – sparked a worldwide backlash that saw… Source link

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Hong Kong’s monetary authority sells US dollars to prop up local currency, the first intervention since August 2018 as rate gap widened

Hong Kong’s monetary authority has sold HK$1.5 billion (US$191 million) of US dollars in the foreign-exchange market to prop up the local currency’s value against the greenback, the first intervention by the city’s de facto cental bank since August 2018.The move, undertaken through the “weak-side convertibility undertaking (CU),” was triggered when the local currency touched 7.8500 per dollar, the lower limit of a trading band in place since May 2005. The aggregate balance of Hong Kong’s… Source link

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Lantau Island land plot sells for 50pc above expectations, driven by Greater Bay Area ‘fever’

A land plot on South Lantau Island sold for HK$1.13 billion (US$143.96 million), beating market forecasts by as much as 50 per cent amid optimism towards the spin-off benefits arising from the “Greater Bay Area”.Huge Choice Group, an affiliate of mainland developer Agile Group, won the tender for HK$12,740 per square foot, the Lands Department said on Monday.The director of Huge Choice Group is Chan Cheuk Yin, according to records on the Integrated Companies Registry Information System. Chan is… Source link

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China’s HNA Group sells Manhattan building near Trump Tower amid national security concerns

HNA Group sold a building in Manhattan to help ease the embattled conglomerate’s debts and stave off US concerns about a Chinese company owning property near Trump Tower. HNA completed the sale, the group said in a statement, without providing details. Bisnow reported earlier that investor and real estate developer Jacob Chetrit and his sons bought the tower in a US$422 million transaction that resulted in a loss for HNA. The Chinese company, which bought the tower for US$463 million with its partners before Donald Trump became president, had been…

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