Hong Kong property developers are expected to report stronger first-half earnings in the coming weeks, buoyed by a rebound in home sales and improving development margins, as investors look for clues on whether the sector’s recovery is sustainable. Bank of America Global Research expected Hong Kong developers and conglomerates to post average core net profit…
Hong Kong’s development chief has welcomed collaboration between property developers and industry operators in bids for the Northern Metropolis pilot project, saying the consortium reflected diversity and the government’s aim of pairing the two sectors. Secretary for Development Bernadette Linn Hon-ho made the remarks on Saturday despite the government only receiving two bids for the…
Hong Kong should broaden mental health support beyond high-risk students amid the growing impact of social media on young people, a government adviser has urged, as a prominent tycoon pledged to empower more young philanthropists to tackle the problem. Children who had not shown any of the usual signs of intense difficulty at home or…
Prices for some new homes in Hong Kong have rebounded by as much as a third from the housing market’s lowest level a few years ago amid robust demand, according to analysts. Developers have priced new units this year in Tseung Kwan O, Wong Chuk Hang and Tai Wai between 7 and 36 per cent…
Hong Kong developer New World Development (NWD) is making 28 units of its Pavilia Rosa project in Kowloon Tong available to buyers on Friday, a test of sentiment and demand in the city’s residential property market amid a slumping Hang Seng Index. NWD said the flats would be sold via a regular price list on…
Inside a massive retail and office complex called 11 Skies next to Hong Kong International Airport, all 800 shops sit vacant and only two of 120 food outlets were open earlier this month. They were supposed to begin operating in the 3.8 million sq ft development – equivalent in size to about 53 football pitches…
The authority managing Hong Kong International Airport has taken over the retail and entertainment operations of 11 Skies from New World Development ahead of the opening of the second passenger terminal, the South China Morning Post has learned. Multiple sources said the Airport Authority had assumed control of key components of the 2.66 million sq…
The takeover of an exclusive Hong Kong sports club’s top venue in Central has been postponed following opposition from some members, the South China Morning Post learned. A source said that following a meeting involving members of the Hong Kong Golf & Tennis Academy (HKGTA), the date of the merger of operations for its Town…
An exclusive Hong Kong sports club will press ahead with an imminent change of operator for its Central clubhouse despite objections by some of its members about unfair access and incompatibility of their client profiles, the South China Morning Post has learned. The controversy began about a fortnight ago after private members’ club Carlyle &…
Hong Kong welcomed more than 1 million mainland Chinese visitors during their five-day Labour Day “golden week” holiday, a 10 per cent rise from a year ago, exceeding government expectations, but industry leaders have said their spending was inconsistent. Immigration Department data showed the city recorded 1.01 million mainland visitor arrivals between May 1 and…