Singapore 

Super cool space shuttle-inspired kid’s bedroom in this four-bedroom condo, Singapore News

Having worked on business owner Charles Cheo’s previous home about 10 years ago, Raymond Seow, design director of Free Space Intent, was deemed the most suitable candidate to design the interior of Charles’ new apartment at Duo Residences. The previous property was Charles’ family home and his parents still reside there. It has an Old Shanghai theme and is furnished with many antique Peranakan furniture pieces from Charles’ collection. “For the Duo apartment, which I share with my wife, Lili, and our twin boys, I wanted something different and which…

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Singapore 

Upgraded Changi Airport Terminal 3 basement features new event space and indoor garden, Singapore News

SINGAPORE – Visitors to Changi Airport’s Terminal 3 (T3) can now watch live football matches on a big screen and enjoy live performances at its revamped basement two, which also features an indoor garden. By June, visitors can also shop at Japanese discount chain Don Don Donki, which will open a 30 sq m store at the T3 departure hall. The revamped basement has a new atrium space ST3PS and an indoor garden, both covering a floor area of 440 sq m, close to the size of a basketball court.…

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China 

Trade war could crimp demand for China’s office space by 8 million square metres as businesses downsize, CBRE says

An area equivalent to 39 of China’s tallest buildings could be hurt if the ongoing trade war between the United States and mainland China deteriorates, as businesses downsize their offices, demand to pay less rent or move to cheaper locations, according to a forecast by CBRE.As much as 8 million square metres (86.11 million square feet) of commercial space, about 10 per cent of the office space in 17 Chinese cities CBRE covers, could be affected by the trade war, according to the real estate… Source link

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Home 

Hong Kong office space rents to further soften as US-China trade war lingers

Prime office rents in the Central business district are forecast to decline by as much as 7 per cent this year as mainland Chinese companies pare back their expansion plans amid uncertainties ranging from the US-China trade war to cooling domestic economic growth, according to Knight Frank’s latest global outlook report released on Thursday. “There are already signs of market softening since November, the first time in 29 months. An uncertain China-US trade relationship and the mainland’s own market challenges have curtailed demands from some mainland firms for prime office…

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Home 

The SFC throws in the towel on Central rents, signs on for new office space at One Island East

The Securities and Futures Commission (SFC) plans to move out of its Central office to save on rental costs as it forecasts a deficit of HK$230 million (US$29.3 million) for the year ahead. The city’s securities regulator has taken out an eight-year lease in Swire Properties’ One Island East in Quarry Bay. The move, set to take place under a lease beginning in January 2020, would likely reduce office rental costs for the regulator by about half, according to an agenda published online by the Legislative Council on Tuesday. The…

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Property 

Debt-saddled HNA Group sued for HK$8.3 million in costs relating to surrender of Hong Kong office space

Embattled HNA Group is being sued by its office landlord in Hong Kong’s main business district over a debt of about HK$$8.3 million (US$1.06 million), according to a writ filed with the city’s High Court. The unpaid money is the costs allegedly incurred by HNA when it surrendered five floors of office space at Three Exchange Square, in Central, as part of a cost-cutting exercise, two sources close to the matter said. Mulberry Land, a wholly owned subsidiary of Hongkong Land, claims the debt-laden Chinese conglomerate owes two instalments –…

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Home 

Debt-laden conglomerate HNA sells space in Shanghai tower to Singapore’s CapitaLand for US$400 million

The Chinese debt-laden aviation-to-finance conglomerate HNA Group has sold 70 per cent of space in a Shanghai office building to Singapore property giant CapitaLand for 2.75 billion yuan (US$400.5 million), CapitaLand said on Monday. After the transaction, the latest divestment move by HNA, CapitaLand and a joint venture partner will own levels 8 to 19 and 21 to 32 of the 34-storey Pufa Tower – a total gross floor area of 41,773 square meters – as well as 61 car parks with property title. The tower, which also has three…

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Home 

Hong Kong’s record-breaking parking space market set to lose steam, say analysts

Hong Kong’s famously lucrative market for car parking spaces may be about to stall, according to analysts and investors. Prices of parking bays, which peaked this year at an average HK$2.25 million (US$290,000), are likely to drop in the short term as demand wavers amid a souring property market, rising interest rates and the US-China trade war. As the economy starts to stutter some Hongkongers will sell their cars to save money, further denting demand, said Lai Wing-to, a veteran property investor with HK$15 billion of assets. “The economy will…

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Property 

Demand for prime office space in Hong Kong to cool further as trade war weighs on companies

Rising interest rates and lingering uncertainty over the US-China trade war are denting demand for prime office space in Hong Kong, with rents likely to fall in Central, the world’s most expensive office district next year, as businesses feel their impact, analysts said. “Investment volumes remained subdued amid ongoing economic uncertainty and the potential for further interest rate hikes,” said Denis Ma, head of research at JLL. “With the yield expectations of buyers rising and vendors remaining firm on asking prices, this trend will continue in the short-run.” Nearly 60,000…

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Vietnam 

HCM City to auction bus advertising space again – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – The three unsold packages for leasing advertising space on HCM City public buses will be put up for auction for a fourth time this month following three earlier unsuccessful attempts, according to the Department of Transport. On September 12 last year the department had called for three-year bids for advertising on 2,082 buses. Package 1 for 492 buses on 25 routes had a reserve price of VNĐ161 billion (US$7.1 million), package 2 for 538 buses on 23 routes cost VNĐ193 billion,…

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