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CK Asset, Sun Hung Kai compete for homebuyers’ cheques in Sham Shui Po, in a battle that can set the course for Hong Kong’s market

Two of Hong Kong’s largest property developers are poised to compete head to head next month for the chequebooks of the city’s homebuyers, in a battle that will determine the course of the world’s most expensive real estate market.CK Asset Holdings, founded by the city’s wealthiest man Li Ka-shing, will start selling the 876-unit Seaside Sonata residential project in Sham Shui Po, its first sale in 2019 and a third of the 2,400 apartments on its contract book. Sun Hung Kai Properties (SHKP)… Source link

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Shui On revamps Xintiandi Plaza as it looks to become the go-to destination for female shoppers in Shanghai

Shui On Land, the mainland-focused developer known for its expertise in large-scale urban renewal projects, has carved a niche for itself in China’s ultra competitive retailing sector by launching the mainland’s first shopping centre dedicated to women in Shanghai.Located in the heart of downtown Shanghai, in Huaihai Road, Xintiandi Plaza aims to become a lifestyle destination for women of all ages, securing dozens of tenants to offer shoppers highly customisable interactive experiences.The 27… Source link

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Property 

Shui On chairman Vincent Lo’s daughter and designated successor calls the shots at the mainland-focused developer

Stephanie Lo Bo-yue, 36, has massive responsibilities. She is raising two young boys, aged two and four, and managing the day to day responsibilities of Shui On Land known for its famous Xintiandi Plaza in Shanghai.Both tasks are challenging, but as the likely successor to the HK$14.4 billion business empire founded by her illustrious father and chairman, Vincent Lo Hong-shui, she has massive shoes to fill.In less than a year after being named executive director, she is making her presence felt… Source link

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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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