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Soho China wins libel case against Chinese blogger for claiming that its Zaha Hadid-designed Wangjing project is bad feng shui

Pan Shiyi, the founder of Soho China and an outspoken property developer with 20 million followers on his blog posts, has won a libel suit against a Chinese blogger who alleged that the bad feng shui in one of Soho’s projects is bad for tenants.Zhuhai Shengun Internet Technology, which operates a blog called “S. Shengunju. S”, was ordered by the Beijing Chaoyang District Court to apologise to Pan, and pay Soho 200,000 yuan (US$29,800) in compensation. The blog wrote that Pan’s Wangjing Soho… Source link

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Hong Kong-listed developer Shui On reports drop in earnings for 2018 and slashes sales target for this year

Hong Kong-listed property developer Shui On Land reported on Wednesday that its core earnings had dropped by 3 per cent to 3.06 billion yuan (US$457.09 million) for the year ending December 31, 2018.The company, which has the second-largest commercial property portfolio in Shanghai, said its revenue had jumped by 35 per cent to 24.84 billion yuan for the year, and that it would pay a final dividend of 8.4 Hong Kong cents, an increase of 20 per cent year on year.Vincent Lo Hong-sui, Shui On’s… Source link

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Micro-sized housing project in Sham Shui Po offers discounts… and cheapest new homes in the city since 2016

Hong Kong’s newest micro-sized housing project has been priced at levels that represent a double-digit percentage discount to similar offerings released only a few months earlier. The offer of cut-price micro flats reflect the eagerness of the developer to adopt an aggressive pricing ­strategy as the residential market continues to cool. The 22-storey residential block named AVA 228 – a project in Sham Shui Po featuring 160 flats – has priced the smallest of an initial batch of units, measuring 151 square feet, at HK$18,563 per square foot, or HK$2.8…

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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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Money 

Hoping to bring home the bacon in the Year of the Pig? Avoid the stock market then, says CLSA’s Feng Shui Index

If you’re hoping to bring home the bacon by investing in stocks during the Year of the Pig, you may want to proceed with caution, according to investment bank CLSA’s annual Feng Shui Index. But if property is more your thing, Hong Kong’s Central district may be in for a prosperous 12 months, if Chinese fortune-telling is anything to go by. The Chinese new year kicks off on February 5, and stock market investors are not the only ones facing a bumpy ride. US President Donald Trump is also destined…

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