Feb 15, 2025 The latest offering from New World Development (NWD) in North Point has seen remarkable interest from Hong Kong homebuyers, quickly selling a significant number of flats. As of 3pm, 103 out of the 168 units at State Pavilia were snapped up by eager buyers, as reported by South China Morning Post. This…
Hong Kong’s largest banks are likely to offer new mortgages to ease the burden on homebuyers amid elevated interest rates, but experts doubt that the trend would overcome the factors weighing down the struggling property market. HSBC, one of the city’s three currency-issuing lenders, unveiled on Wednesday new mortgage plans offering a fixed rate of…
New World Development (NWD) raised prices for a new batch of units in a sought-after residential project on Hong Kong Island, as prospective buyers outnumber the project’s supply of flats by more than 28 times. The developer said the response to the 388-unit State Pavilia project on King’s Road in North Point has been “enthusiastic”,…
The default of a major Hong Kong property developer could send shock waves through the broader sector and scuttle a potential recovery in the residential market, according to S&P Global Ratings. “Hong Kong’s residential property recovery may be slipping out of view,” the credit-rating agency said in a report on Thursday. “S&P Global Ratings believes…
In August 1993, Donald Trump visited Hong Kong with the intention of building a Trump Tower in Central. “I’m a New York boy, born and bred, and there’s only one other city in the world that impresses me – Hong Kong,” Trump enthused in an interview with this paper, accompanied by his then-girlfriend Marla Maples,…
Hong Kong-based property developer New World Development on Friday confirmed it is conducting ongoing negotiations for the potential sale of its shopping centre, K11 Art Mall. Local media had reported in August that the company received a HK$9 billion (US$1.16 billion) bid for the Hong Kong shopping mall from a Chinese state-owned company. CR Longdation,…
CTF Services, the infrastructure development arm under Chow Tai Fook Enterprises (CTFE), owned by one of Hong Kong’s richest families, plans to issue HK$780 million (US$100 million) in convertible bonds to replenish its working capital and repay debt, it said on Thursday. The initial conversion price of HK$8.043 per share equates to a premium of…
One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it…
(Bloomberg) — One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing. Most Read from Bloomberg As China’s property debt crisis enters its fifth year, there’s little indication…
Hong Kong stocks traded near a three-week high as investors weighed the prospect of stimulus measures from Beijing against the backdrop of heightened trade tensions. The Hang Seng Index rose 0.4 per cent to 19,819.62 as of 11.18am local time after falling as much as 0.7 per cent. The Hang Seng Tech Index climbed 0.5…