由兴盛创建持有的西营盘干诺道西138号THE CONNAUGHT减价放售，由10亿减至6亿，呎价约1.44万。

有代理表示，THE CONNAUGHT酒店位处西营盘干诺道西138号，楼高29层，总建筑面积约41705方呎，于2019年完成翻新工程，现共提供52个房间，每个房间均可饱览180度维港景。截标日期为2024年10月23日中午12时正。

2018年购入价7.3亿

另一代理表示，儘管环球经济仍不稳定，酒店投资市场表现不俗。今年2月初，本地共居品牌Dash Living伙拍外资基金保德信PGIM，以3.2亿承接上环皇后大道286号奥华酒店，呎价1.23万。

据了解，业主最初叫价10亿放售全幢，现下调目标价至6亿，累减4亿或40%，呎价约1.44万，按最新叫价计算，每个房间价值约1154万。

平均每个房间值1154万

酒店前身为服务式住宅太极轩138，兴胜创建于2018年以7.3亿收购并将之翻新为酒店，当时，发展商曾表示，预料每呎翻新费用约1000至2000元，料日后月租收益约290万。若以酒店总楼面计算，翻新费亦至少逾4170万。

(星岛日报)

航天城11 SKIES 明年第二季起开放

机场及东涌一带发展加快，其中总楼面达到380万平方呎的航天城11 SKIES项目陆续落成，零售及娱乐体验设施部分，将在明年第二季陆续开放。

根据资料显示，连同赤鱲角机场在内，东涌及周边未来有4个大型商业项目，合共为区内增逾660万平方呎商业楼面，其实中规模最大属于航天城11 SKIES，而港铁 (00066) 则分别在东涌东站、小蠔湾两个项目上，合共拥有逾220万平方呎商业楼面。

投资逾200亿 备娱乐餐饮零售

航天城11 SKIES位于机场二号客运大楼，跟亚洲博览馆之间，由新世界 (00017) 所发展，属于大型综合项目，总楼面达到380万平方呎，将会提供大型零售、娱乐设施，及3幢合共约57万平方呎的甲级写字楼K11 ATELIER 11 SKIES，总投资额高达约200亿元。

11 SKIES在零售部分提供约266万平方呎，包括逾800间商铺，另外设有57万平方呎的沉浸式体验娱乐设施。首阶段娱乐设施将于明年第二季陆续开放，零售、餐饮等服务则会配合机场与航天城整体项目的发展时间，拟于2025年第4季起逐步投入服务。

至于写字楼方面，K11 ATELIER 11 SKIES总楼面约57万平方呎，由3幢甲级商厦组成，早在2022年7月已经陆续入伙，办公室的单位面积介乎约1,696至33,868平方呎，吸引不少金融机构、健康医养及初创企业进驻。

另一方面，随着港铁东涌东站及小蠔湾站的发展，港铁在区内两个大型商住项目亦将陆续推出，住宅外，亦拥有约220万平方呎的商业楼面，其中183万平方呎来自东涌东站项目。

港铁2项目 料年内重新招标

该项目位于东涌第113区，佔地约82万平方呎，总楼面约678万平方呎，当中7成属于住宅楼面，亦设有商业零售及办公室楼面，分别涉约64.6万及118.4万平方呎。

港铁曾经在去年11月推出东涌东站1期招标，其中包括8.8万平方呎的商场楼面，惟最终流标收场，港铁计划最快今年内重新招标。

至于小蠔湾项目佔地约323万平方呎，总楼面达到926万平方呎，其中大部分作住宅发展，涉及约2万伙，并设有逾32万平方呎的商场。

大中华首间KidZania 57万呎娱乐设施

新世界 (00017) 旗下机场航天城11 SKIES设有57万平方呎的娱乐设施，包括当中大中华区首间KidZania趣志家儿童职业体验乐园于今年7月底至9月初试营运，楼高3层与近30个国际及本地品牌合作。

11 SKIES设有多项大型娱乐设施，包括香港首间动感飞行影院「飞越天际」、韩国最大沉浸式多媒体艺术博物馆ARTE MUSEUM、以柏灵顿熊为主题的室内亲子娱乐体验，以及KidZania趣志家儿童职业体验乐园。

其中KidZania Hong Kong香港趣志家早前试运，提供近70个逼真职业角色体验，包括七大「香港独家」创意体验如财富管理中心、智慧城市科技工作坊、儿童运动健康的综合体育馆、中式糕点烘焙坊等。

3层高 集职业角色体验动感影院

至于，动感飞行影院方面，以香港风貌为主题，透过数码技术、无边界荧幕等先进科技，将香港日与夜的美景展现于13米球形荧幕上。

(经济日报)

Owners of Hong Kong’s Connaught hotel slash sale price by 40% amid property downturn

The owners of the 52-room, four-star hotel in Sai Ying Pun have lowered the asking price to HK$600 million from HK$1 billion previously

The worsening slump in Hong Kong’s property market is pushing owners to deepen the discounts of assets already on the market.

The Connaught, a 29-storey hotel in Sai Ying Pun, adjoining the core business zone of Central, is being offered at a 40 per cent discount to its initial asking price.

The owners of the 52-room, four-star hotel with a gross floor area of 41,705 sq ft have dropped the price to HK$600 million (US$77 million) from HK$1 billion previously, according to a statement from two agencies who’s the joint agents for the sale.

The asset is just one of many that have been put for auction by landlords and investors in recent months. It is owned by a joint venture of Hong Kong-based Hanison Construction and New York-based private equity real estate specialist Angelo Gordon, sources said.

On Monday, another agency said that it has been appointed as the sole agent for the sale of five en-bloc industrial buildings in Sai Kung with a gross floor area of 383,579 sq ft. The buildings are valued at HK$950 million. The property “holds significant potential for conversion into a high-end senior living community”, according to the agency.

In the first half of the year, sales of distressed property in Hong Kong surged to about three quarters from the typical 10 per cent of such levels in previous years, according to an estimate by another property agency. With interest rates at a 23-year high, asset owners have found it increasingly difficult to service debt, the property agency said.

“Despite the unstable global economy, the hotel investment market has demonstrated outstanding performance in the past two quarters,” an agent said.

“The revival of the inbound tourism industry, coupled with the Hong Kong government’s effort to promote the Quality Migrant Admission Scheme, will propel the growth of the entire hotel investment market,” the agent added.

In February, co-living brand Dash living and fund manager Prudential Investment Management acquired the Ovolo hotel in Sheung Wan for HK$320 million, or an average price of about HK$12,300 per square foot.

The Connaught enjoys a “strategic location advantage”, as it is a few minutes’ walking distance from the Sai Ying Pun MTR station and the Hong Kong-Macau Ferry Terminal, another agent said.

The hotel can benefit from Hong Kong’s talent scheme aimed at attracting high-quality professionals globally for career development, the agent said.

“The property is well-served as a suitable accommodation for company management,” the agent added. “With only an MTR station away from the University of Hong Kong, it is perfectly positioned to function as a dormitory for senior teaching staff.”

The closing date for the hotel tender is October 23.

(South China Morning Post)

Hong Kong property deals slump to 6-month low as market-boosting measures wear off

Overall real estate transactions in August fell 10 per cent month on month to 4,729 units, while value declined 20 per cent to US$4.4 billion

Hong Kong’s property market lost some of its zip in August, with overall property transactions slumping to the lowest since February when cooling measures were still in place.

Real estate deals, comprising new and lived-in homes, office units, car parking slots, shops and industrial spaces, fell 10 per cent month on month to 4,729 units, and declined by 33 per cent from six months ago, according to the Land Registry data released on Tuesday.

Overall deal value fell about 20 per cent month on month to HK$34.3 billion (US$4.4 billion), but was up by more than 50 per cent compared with February, the data showed.

On an year-on-year basis, the volume in August was 1.5 per cent higher, while the value was 1.6 per cent lower.

Home sales slipped for the fourth consecutive month to 3,654 units, a 1.9 per cent decrease from July and a six-month low since 2,375 were sold in February. The value amounted to HK$28.47 billion, a 20 per cent slump from HK$35.7 billion in July.

“Home sales transactions fluctuate with the market sentiment regarding interest rates, resulting in periods of both activity and inactivity,” an agent said.

Property registrations will continue to remain at low levels until the interest rate cuts are implemented, the agent added.

Starting in March, the Hong Kong government scrapped all property cooling measures such as the Special Stamp Duty, which was levied on homebuyers who flipped their property within two years of purchasing it. This led to a surge in transactions, with sales in April rising to their highest since July 2021.

The exuberance was short-lived, with deals falling back to the 5,000 level since June.

The market is widely anticipating that the US Federal Reserve will start easing rates later this month, a development that could quadruple home sales this month compared with August, according to a local property agency.

With the local currency pegged to the US dollar, Hong Kong’s monetary authorities are expected to follow any easing by the Fed. Hong Kong’s interest rates currently stand at a 23-year high.

A cut in interest rates could see developers launching at least six new projects with a total of 2,800 flats, according to another local property agency.

The high borrowing costs have weighed on home prices, with developers extending discounts to levels seen several years ago. Wang On Properties launched 60 units at Finnie in Quarry Bay in the last week of August at prices ranging from HK$17,502 to HK$23,470 per square foot, about 30 per cent lower than the initial launch of Henderson Land’s The Holborn, in the same area, in 2021.

Secondary home prices, meanwhile, fell to a near eight-year low in July, according to the latest reading of the Rating and Valuation Department.

“It is anticipated that the overall property transactions in September may see a slight increase with a month-on-month rise of nearly 4 per cent, testing the 4,930 mark,” the agent said.

(South China Morning Post)

Mega projects gear up for launch

Twin Victoria and Cullinan Sky in Kai Tak are among at least four new mega projects planning to put homes up for sale this month, hoping to ride the wave of an expected boost in sales from the imminent US Federal Reserve's interest rate cut.

Twin Victoria, developed by China Overseas Land & Development (0688), is expected to be launched this week with at least 141 flats in the first batch.

The project opened three show flats yesterday, of which one is being decorated and redesigned from a two-bedroom to a one-bedroom unit.

It will offer a total of 702 flats measuring between 244 and 1,770 square feet, spanning studio to three-bedroom homes as well as some special units.

Sun Hung Kai Properties's (0016) Cullinan Sky will release its sales brochure as early as next week and put flats on the market this month.

The project is divided into four areas. The first batch will be mainly from its Elite Zone, with the smallest unit measuring around 250 sq ft.

Elsewhere in the primary market, Great Eagle (0041) will have 133 units at Onmantin Phase IIA in Ho Man Tin up for sale on Friday.

The project sold some of its three- and four-bedroom units in tender earlier, then released its first price list last week, offering 84 flats at an average HK$20,772 per sq ft after discounts. Buyers can purchase up to four units.

The Parkland in Yuen Long, developed by Lai Sun Development Company (0488), uploaded its prospectus yesterday, set to be launched in the short term.

The finished project offers 112 units, comprising one- and two-bedroom flats ranging from 265 to 494 sq ft.

CK Asset's (1113) The Coast Line in Yau Tong launched Mid-Autumn Festival offers amid keen competition.

Homebuyers who buy a studio or two-bedroom unit in The Coast Line II can get a gold gift coupon worth around HK$39,800, and the buyer of the last three-bedroom home in The Coast Line I could gain a gold dragon with the value around HK$99,800.

The rental market shares the upbeat momentum. Henderson Land Development (0012) put 23 of the remaining units at One Innovale in Fanling up for rent, with the monthly rent for a studio starting at HK$9,500.

It also offers eight one-bedroom flats leasing between HK$11,100 and HK$12,600, 10 two-bedroom units ranging from HK$15,800 to HK$16,600, and four three-bedroom flats with monthly rent up to HK$24,800.

Rentals for four-bedroom flats remain up for discussion with tenants.