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…
Hong Kong developers released nearly 300 new flats to the market amid enthusiastic demand from potential homebuyers as the latest official data show completion of private residential units is set to decline this year and next. As of 3pm, 138 out of 218 units at the One Victoria Cove Phase I in Hung Hom, jointly…
Hong Kong International Airport expects revenue to grow by up to 10 per cent this year despite disruptions from the Iran conflict, with its chief executive aiming to position it as an alternative hub to the Middle East. In a wide-ranging interview with the South China Morning Post on Thursday, Airport Authority Hong Kong CEO…
Hong Kong’s Airport Authority has launched its marina project as part of the broader SkyCity blueprint, seeking global interest from the yachting, hospitality and water sports sectors to help shape the 200-hectare (494 acres) development, with the first phase scheduled for completion in 2028. Cissy Chan Ching-sze, the authority’s commercial executive director, said on Monday…
Hong Kong’s New World Development (NWD) has shelved plans to acquire the remaining stakes in three commercial sites in Causeway Bay, signalling continued caution among developers despite signs of improving demand in the core office market. The company, which has been selling assets to reduce debt, said it would “exercise prudence as appropriate, having regard…
Hongkonger Katie Chan was hoping to buy a flat to live in, and although the 37-year-old accountant was in no rush, the potential longer pause in interest rate cuts could delay her decision. For Chan, the ideal mortgage would be if the one-month Hong Kong interbank offered rate (Hibor) fell below 1.95 per cent, but…
Developers in Hong Kong are testing the housing market’s recovery by nudging prices up or paring discounts as improving sentiment and a rebound in transactions boost confidence in the city’s property sector. But analysts said the moves remained uneven, with many newly launched projects still offering sizeable concessions as developers continued to prioritise clearing unsold…
Hong Kong airport’s second terminal will fully open on May 27, authorities have announced, with the redeveloped facility set to serve as the base for 15 airlines. The terminal, which will mostly handle regional flights, is part of the airport’s HK$141.5 billion (US$18.1 billion) expansion project launched in 2016 that also included a third runway….
Blackstone’s potential acquisition of a stake in New World Development (NWD) will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. The New York-based private equity giant’s investment in NWD could take the form of “shareholder loans or direct equity financing, as well as…