OCBC’s headquarters complex consists of the 52-storey OCBC Centre and smaller buildings nearby. As the buildings are designated historic structures, the bank has to be careful with the makeover, CEO says.
Andy Cheung has been an independent non-executive director since 2022 and before that was an executive with Link Reit.
Wanda Group founder Wang Jianlin turned to a ‘light-asset’ model in 2017, helping him avoid the same fate as Hui Ka Yan, the embattled founder of indebted real estate developer Evergrande Group.
Logan Group is entering a crucial stage in its offshore restructuring, with just three months to pay or refinance a loan or risk losing control of a key luxury home project in Hong Kong, The Corniche.
A nine-member jury at the Court of First Instance found Sit Yi Ki, Lam Wing Ki and Tam Cheuk Hang guilty of manipulating the shares of Ching Lee Holdings.
China Merchants Port Group joins at least four other large corporations that have scrapped plans to hire or ended contracts with the auditing firm in the last month, after whistle-blowers in April alleged PwC ‘turned a blind eye’ to misconduct by China Evergrande.
‘The second-hand market is facing a lot of competition from the first-hand market, so prices have not had much room to grow,’ Colliers researcher says.
Shenzhen and Guangzhou have joined the ranks of major Chinese cities that have lowered mortgage rates to lure homebuyers.
The Hong Kong Green Building Council and Beam Society have launched a global certification to promote sustainable construction, as practitioners seek opportunities overseas and look to strengthen the city’s green credentials.
Growth in rentals on luxury residential properties cooled last quarter, as policymakers took steps to rein in inflation. Sustained demand, however, will keep the market bullish this year, Knight Frank says.
Mainland China’s commercial and financial hub will relax home purchase restrictions and grant subsidies to people buying new flats in a move designed to breathe life back into the city’s real estate sector.
Distressed properties in Europe are presenting opportunistic gains for global investors because of supply and demand imbalances and pressure from high borrowing costs, UK-based Patron Capital Partners says.
Dubai is shaping up to be a new favourite for buyers, thanks to a booming real estate market and fast-track residency scheme, agents say. It handed out 158,000 ‘golden visas’, dwarfing the 13,000 that Portugal has issued since 2012.
Home purchases in Hong Kong are slowing down after an initial spate of enthusiasm sparked by the government’s rollback of cooling measures in February.
The latest government measures are merely ‘a drop in the ocean’, and rebuilding homebuyers’ confidence in the presale system is a precondition for any revival, analysts say.
The mix of tenants in malls and at street level is changing as restaurateurs pounce on slumping rents to expand, often taking the spaces left behind by retailers forced to leave during the pandemic.
The comments by Chan showed how Hong Kong has been caught since 2019 by a series of turbulent events, including months of anti-government protests, US sanctions and a Covid-19 pandemic in its third year.
Upmarket home rents in Hong Kong and Shenzhen declined in the year’s first half, bucking the global trend of increases among 30 cities tracked by property consultancy Savills.
The owners of the iconic Hong Kong restaurant, previously a huge draw for tourists with its prime location, are now paying less than half the monthly HK$230,000 (US$29,300) they were forking out on a lease signed pre-pandemic.