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…
Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, has sold out the first batch of units at its Garden Regency project in the New Territories on Saturday, according to agents. By 3.30pm, all 138 flats the developer had launched in the Kam Tin North project in Yuen Long had found buyers,…
Some of Hong Kong’s largest developers, including Sun Hung Kai Properties (SHKP) and Wheelock Properties, are set to release new units in residential projects this month amid an expected cooling of price increases. SHKP, the city’s largest developer in terms of market capitalisation, released the price list for 120 units at its Garden Regency project…
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 has launched a new solar farm built on restored landfill in Tseung Kwan O that aims to cut carbon emissions by an amount equivalent to planting about 20,000 trees each year. Jointly developed by environmental services firm Veolia and developers Sun Hung Kai Properties (SHKP) and Citic Pacific, with government support, the facility…
Hong Kong construction and engineering company Able Engineering has secured a residential site in Tung Chung for a higher-than-expected HK$1.627 billion (US$207 million) premium, outbidding five groups of major developers in the city. Able Best, a construction and private development unit of Able Engineering, secured a 50-year land grant for the 152,332 sq ft plot,…
The Hong Kong government’s first land sale in the current financial year has drawn six bids, according to the Development Bureau, including those from the city’s largest developers, suggesting a more confident outlook for the residential property market. At the close of tender for Tung Chung Town Lot No 54 at Area 106A on Friday…
Office rents in Hong Kong’s Central district are expected to rise faster in the second quarter of the year, according to analysts, a reversal of a multi-year slump that began in the second half of 2019. The latest forecast was made by US bank Citi, which said premium offices in the city’s main business zone…
Hong Kong’s West Kowloon is poised to emerge as the second-most important office sub-market after Central with the completion of new buildings that will accommodate banks and insurance companies, according to industry officials. However, there was expected to be limited demand from newcomers or via corporate expansion, with leasing activity dominated by relocations and higher…
The US-Israeli war on Iran has unleashed sharp swings across global energy and financial markets, fuelling demand for safe-haven assets, with Hong Kong emerging as a potential beneficiary across gold, property and capital markets. In the third of a three-part series, we look at Hong Kong’s position as a stable base where demand for property…