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NWD looks to expand Causeway Bay holdings

New World Development (0017) has filed a compulsory sale application to acquire several properties in Causeway Bay which have a combined market value of HK$4.5 billion.

The properties, which include 54-76 Percival Street and Happy Mansion at 5-27 Lee Garden Road, have a site area of 19,831 square feet.

The developer has more than 80 percent ownership of the properties and the maximum gross floor area would be nearly 300,000 sq ft, if they are rebuilt at a plot ratio of 15.

The companies applying for the compulsory sale are Kerryford Holdings and Time Pilot, whose registered addresses are New World Tower, the headquarters of NWD.

In the primary market, Sun Hung Kai Properties (0016) has unveiled the first price list for Silicon Hill in Tai Po, offering 116 homes at an average per-square-foot price of HK$17,498 after discounts, nearly 10 percent lower than some second-hand flats in the same area.

The first batch includes one-bedroom to three-bedroom units, and is priced from HK$5.49 million to HK$12.92 million after discounts, or from HK$16,461 to HK$19,929 per sq ft.

Three show flats are available for viewing from today and the sales registration will start tomorrow, the developer said, adding that the sales may take place this month.

The project offers studio to three-bedroom units with spaces ranging from 217 sq ft to 851 sq ft. Flats with two bedrooms account for more than half, SHKP said.

In Cheung Sha Wan, Seaside Sonata has put the remaining 38 three-bedroom units up for sale with the cheapest ones at HK$12.38 million after discounts.

The developer CK Asset (1113) said the flats, which range from 771 sq ft to 786 sq ft, are worth HK$570 million and it has raked in about HK$8.3 billion after selling 838 homes in the project.

In Quarry Bay, eight studio units from 221 sq to 227 sq ft at The Holborn will be put on sale with prices from HK$5.74 million to HK$6.13 million after discounts, developer Henderson Land Development (0012) said.

Meanwhile, a luxury residential property at No 2 Stubbs Road in Mid-Levels East worth about HK$1 billion is being tendered, a real-estate service firm said.

The 62-year-old property provides 13 residential flats with a total salable area of 15,224 sq ft, and the tender will close on July 14, it added.

(The Standard)


Hong Kong luxury homes set for a rebound as developers pin hopes on border reopening, buying power from mainland investors

Transaction volume of luxury homes could rebound by 30 to 40 per cent in the second half of 2022 on resumption of normal business

City has approved 13 projects for presale this year through late March, with luxury projects accounting for eight of them

The market for luxury homes in Hong Kong is expected to brighten as developers and property investors look past the slump in the opening months this year. Subsiding Covid-19 impact and hopes for the reopening of borders are behind the new-found optimism.

Transaction volume of luxury homes could jump by 30 to 40 per cent in the second half from the first half, a property agent said. First-quarter sales of homes priced above HK$50 million (US$6.37 million) fell by a sequential 36.3 per cent, the worst since late 2020 because of the fifth wave of pandemic, stock market losses and fears over higher borrowing costs.

The Federal Reserve has raised its key interest rate twice this year, followed in lockstep by Hong Kong’s monetary authority under its linked exchange rate system. Still, local banks have refrained by lifting their lending rates amid a shrinking economy.

“The market has digested the interest-rate hike factor,” said Helen Fung, deputy director of sales at Chinachem Group. “The recent boom in the property market reflects confidence in entering the market.”

Developers had 13 new property projects approved citywide for presale by the government but not yet launched as of late March, offering a total of 2,582 units, according to Hong Kong Economic Times. Luxury residential projects accounted for eight of them.

Kowloon Development last week sold the last flat at Cadogan in Kennedy Town for HK$104 million, a duplex measuring 2,167 square feet. At HK$48,000 per sq ft, the unit is the most expensive in the development, reflecting underlying appetite among local buyers.

Luxury residential properties sold by tender will play a pivotal role in the primary market’s recovery in the coming quarters, according to Fonnie Chan, senior sales manager at Kowloon Development, as some developers have seized the opportunity to position for the market rebound.

Chinachem Group launched four duplex units at Bisney Crest in Pok Fu Lam earlier this month for sale by tender. It collected about HK$230 million from the sale of the last two luxury units at Villa Cove in Clear Water Bay last month.

First Group Holdings offered a house measuring 18,274 sq ft at 72 Repulse Bay Road for sale in mid-May, according to a property agent. The property has attracted more than 20 inquiries, a high reception for properties of that size, the agent added.

Emperor International Holdings, C C Land Holdings, Mingfa Group (International) and Couture Homes, who have jointly developed the No. 15 Shouson ultra-luxury development in the Southern district, could launch it shortly by tender, according to a statement.

“As the pandemic [eases] and Hong Kong’s economy gradually returns to normal, the group expects that the high-end residential market shall follow,” said Alex Yeung, vice-chairman of Emperor International.

That optimism has produced a record deal this month in Tai Po, where a castle-style mansion on 1 Ninth Street in Hong Lok Yuen villa estate changed hands for about HK$300 million. The property is the largest in the area.

The Hong Kong government has taken steps this quarter to peel away some of its tough social distancing curbs after managing to put a lid on the fifth wave of Covid-19 infections, including easing dine-in rules and quarantine measures for inbound arrivals.

“Recently, transactions of big-ticket luxury homes have increased,” said Chan at Kowloon Development. “With the pandemic easing, the market anticipates that the Hong Kong government will soon reopen the borders with the mainland, thereby attracting the purchasing power” from Chinese investors, she added.

(South China Morning Post)


Greater Bay Area residents will soon be able to buy wealth management, beauty and medical services from Hong Kong’s 11 Skies complex

Airport Authority awarded the contract for development and management of the project to New World Development in 2018

Anchor tenants include Bank of China (Hong Kong), Citibank, Standard Chartered, FTLife Insurance and Trinity Health Enterprise

Greater Bay Area (GBA) residents will soon be able to receive medical services and buy wealth management products at a commercial complex named 11 Skies near Hong Kong International Airport, without travelling to the city centre once the border with mainland China reopens.

11 Skies is a HK$20 billion (US$2.55 billion) 3.8 million square feet office-retail-entertainment project, comprising three, seven-storey grade A office towers. It will open in July and mainly target GBA residents who live within a one-and-a-half hour drive of the complex, according to developer New World Development.

“The Covid-19 pandemic has had an impact on construction,” said Larry Leung, vice-president for operations at K11 Concepts, a unit of New World Group that is responsible for project management. “But we still manage to complete the work [for the office site] and keep the budget in check.”

The city’s Airport Authority awarded the contract for development and management of the project to the group’s property arm New World Development in 2018.

Nearly 20 companies from the finance, wealth management, beauty and medical services sectors will open offices at the three office towers, which have a total gross floor area of 570,000 sq ft, said Leung. “About half of the gross floor area [for offices] has been pre-leased,” said Leung, without disclosing the rents payable.

Aside flying to the airport to visit 11 Skies, the complex is also close to the Hong Kong-Zhuhai-Macau Bridge, which could pull in visitors who drive from the Greater Bay Area, which includes the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing.

Five anchor tenants including Bank of China (Hong Kong), Citibank, Standard Chartered, FTLife Insurance and Trinity Health Enterprise have taken up space at the business complex.

Standard Chartered said it plans to set up a new banking centre in 11 Skies to meet the demand for cross-boundary banking and investment services from GBA residents.

“While the GBA market continues to develop rapidly, we believe mainland investors will have a higher demand for cross-boundary investment services, spurring growth of wealth management services in Hong Kong,” said Terruce Wang, head of Greater China segment for consumer, private and business banking at Standard Chartered Hong Kong, in a reply to questions from the Post.

“As 11 Skies is situated at one of the most accessible locations for GBA residents, we plan to cater to their needs as a physical servicing spot for banking and wealth management services, while they visit 11 Skies for entertainment and shopping in one-go,” said Wang.

Each of the three office towers will offer specific services, one for finance and wealth management, one for wellness and medical services, and the third will provide space for companies in the GBA to set up offices in Hong Kong.

The planned opening of the complex comes against the backdrop of a sharp plunge in mainland tourist arrivals to Hong Kong from 51 million in 2018 to 65,721 in 2021 amid a border closure since 2020 to contain the pandemic.

“The border with the mainland will open one day even though the market is clouded by short-term concerns,” a property agent said. The agent added that New World would be taking a long-term view of the project as the airport remains an international hub.

“Hong Kong’s financial and medical services are considered some of the most established in the Asia-Pacific region,” another agent said. “It can attract money flow from the mainland seeking to buy insurance, stocks and wealth investment products in Hong Kong.”

Meanwhile, the retail part of 11 Skies, comprising 800 shops and 120 restaurants, is set to open in 2024. The facilities will include the first KidZania theme park in Greater China, the city’s first flying theatre, Timeless Flight Hong Kong, and SkyTrack, an indoor and outdoor karting track.

The agent said that there has not been such a “retailtainment” – retail marketing as entertainment – complex in Hong Kong with such a “wow” factor for tourists and locals in the past 10 years.

(South China Morning Post)


星光行海景單位易手 每呎1.6萬低市價約10%



























有一間外資代理行指,上述司徒拔道2號,佔地達13461方呎,現有13伙,實用面積合共15224方呎,劃為「住宅 (丙類) 2」用地,最高建築高度12層,連一層開放式車場,項目亦可補地價重建分層,或按現時限制重建洋房,截標日期為7月14日下午5時。







新世界申強拍銅鑼灣舊樓 市場估值逾45億創新高














工商舖4月367宗買賣 升6.7%





工廈續成焦點 兩月4宗全幢買賣


工廈續成財團追捧對象,近日投資市場上再現大額工廈成交。嘉里 (00683) 表示,與華潤物流達成協議,出售旗下嘉里 (沙田) 貨倉及嘉里 (柴灣) 貨倉兩項物業,分別涉資23.3億及22.9億元,合共涉及46.2億元。以成交價計,為今年最大額買賣。

兩項物業均屬貨倉用途,嘉里 (沙田) 貨倉位於火炭山尾街36至42號,對面為近年入伙的駿洋邨。沙田貨倉樓高18層,總樓面面積約404,374平方呎。據了解,該物業現時出租率理想,呎租約12至14元,主要為物流行業租用。物業以23.3億元易手,呎價約5,762元。

另一物業為嘉里 (柴灣) 貨倉,物業位於柴灣嘉業街50號,樓高15層,總樓面約521,253平方呎。數年前,嘉里物流 (00636) 曾作出申請,計劃改裝柴灣貨倉為大型骨灰龕場,惟遭城規否決。今次以物業22.9億元成交價計,呎價約4,393元。

華潤物流 已斥逾75億掃工廈







長沙灣工廈85%業權 5.5億放售







恩浩國際中心 處九龍灣商業重心






高層單位呎租18 近1年低













複式單位放售 意向價約1億