Hong Kong’s MTR Corporation said on Monday that it had received eight bids for a commercial and residential development at one of the critical hubs in the Northern Metropolis, a large-scale project that aims to bolster the city’s economic base and foster closer integration with the Greater Bay Area. The number of bids for the…
Hong Kong homebuyers flocked to the second round of new flat sales at the La Mirabelle I project in Tseung Kwan O, underscoring continuing demand for property amid escalating tensions in the Middle East. By noon, 72 of the 168 units had been sold, according to agents. Another 86 flats have been made available via…
Hong Kong developers are raising prices of new homes this week following sold-out launches in recent days, further testing the appetite of homebuyers amid geopolitical and interest rate uncertainties. Henderson Land Development put another 39 units at its Chester project in Hung Hom on sale on Monday, with 25 homes finding buyers, according to agents….
The earnings underscored how the city’s developers are shifting focus towards projects that can still generate cash flow, mainly high-end housing in Hong Kong and top-tier mainland cities, while waiting for offices and retail to recover. Recent geopolitical tensions, including the Iran war, had created “significant economic uncertainties”, prompting Henderson to adopt a more prudent…
May Chan is looking for a home that she can call her own. The freelancer wants to buy a flat, but high mortgage rates as well as uncertainty in the property market kept her from taking the plunge. “I would like to buy a flat, if I can afford it,” she said. “It would certainly…
The pedestrian footbridge linking Hong Kong’s Central Pier with the International Financial Centre (IFC) will be demolished and replaced by a temporary one, with Wednesday marking its last day open to the public. A new temporary passageway, located near the current footbridge, will be open for use on Thursday, according to Henderson Land Development. On…
Martin Lee Ka-shing, chairman of Hong Kong’s Henderson Land Development, has taken an actress to court over allegedly defamatory remarks that suggested they had an illicit relationship, while also seeking damages from US tech giant Google and five YouTube channels for failing to remove “false” content. The 54-year-old business mogul on Friday sued Chrissie Chau…
Tycoon Li Ka-shing has added more than US$6 billion to his net worth, boosting his standing as Hong Kong’s richest individual and contributing to a US$65 billion increase in the assets of the city’s 50 richest people, according to Forbes. Li, whose business interests span real estate, infrastructure and pharmaceuticals via companies such as CK…
Hong Kong-listed mainland Chinese developer China Overseas Land & Investment won a bid for a 3,132-square-metre (33,712 sq ft) residential plot in Kowloon East, beating some of the city’s largest developers with a higher-than-expected tender. The state-backed developer beat eight rivals to secure a 50-year grant for the parcel in Ngau Tau Kok with its…
Hong Kong’s tender for a 3,132 square metre (33,712 sq ft) residential plot in Ngau Tau Kok, Kowloon East, has drawn nine bids, according to the Development Bureau. The site was estimated to be worth as much as HK$1.55 billion (US$198 million), according to real estate services provider CBRE. Sun Hung Kai Properties, Henderson Land…