Hong Kong developer Sino Land on Wednesday said its net profit for the financial year that ended on June 30 fell from a year earlier as strong residential sales were offset by lower rental income and falling occupancies. After taking into account a one-time loss of HK$1.08 billion (US$138.7 million) from the revaluation of its…
Hong Kong developers rushed to put more than 200 residential units on the market for sale on Friday, as they took advantage of the market’s anticipation of the first interest rate cut of 2025, which may take place as soon as mid-September. Most of the flats were offered at two locations on the Kowloon peninsula….
The transaction, which marked the Hong Kong government’s first residential plot sale this financial year, involved a site at Hoi Chu Road in Tuen Mun, a district in proximity to Shenzhen Bay. “The sought-after site presents enormous potential,” Sino Land executive director Victor Tin said on Wednesday. “With beautiful sea views, proximity to the Greater…
The supply of new private homes in Hong Kong is projected to fall over the next four years as property developers booked more sales in recent months amid a revival in market sentiment. The number of homes was projected to drop to about 101,000 units through 2029, according to a quarterly projection published by the…
Hong Kong’s development minister has suggested that local developers join hands with their mainland Chinese counterparts to take part in the Northern Metropolis border town megaproject using a new approach. Secretary for Development Bernadette Linn Hon-ho said on Saturday that the government was studying proposals submitted by various developers and aimed to put one or…
Henderson Land Development, New World Development and Sino Land are among 22 Hong Kong and mainland Chinese companies that have expressed interest in a pilot scheme to develop large land parcels in the Northern Metropolis after a Beijing official urged the business sector to get involved. The Development Bureau said on Monday that it had…
Bob Prince, the co-chief investment officer of the world’s largest hedge fund, bought a luxury home in Hong Kong, joining an A-list of global financiers who have begun to heed the city government’s serenade to put down roots in Asia’s third-largest capital market. The executive of Bridgewater Associates, which had US$235 billion of assets under…