21 February 2020

Property and Construction

  • The Peak, the neighborhood surrounding Victoria Peak, has some of the most expensive properties in Hong Kong. Photo: Reuters

    Comparing Jeff Bezos’ new house with luxury properties in HK

    - Feb 20, 2020 1:36pm
    Amazon’s founder Jeff Bezos just spent US$165 million to buy the most expensive property in Los Angeles, the Warner Estate, from billionaire David Geffen. The Warner Estate was built by Warner Bros co-founder and former president...
  • Nancy Yip, Area Director for Hong Kong at IWG, says her firm is flexible in responding to changes in market demand. Photo: IWG

    How a workspace provider is expanding with a franchising model

    - Feb 18, 2020 12:06pm
    SoftBank-backed co-working space giant WeWork last year suffered major setbacks that included a failed initial public offering (IPO) plan and the ouster of a co-founder. The WeWork debacle is seen as a watershed moment in the...
  • Evergrande makes an offer that is hard for property buyers to refuse. Photo: China Daily

    Evergrande launches creative sales campaign amid virus outbreak

    - Feb 17, 2020 4:46pm
    In just three days, Chinese property developer China Evergrande Group (03333.HK) said it has received 58 billion yuan (US$8.31 billion) worth of orders in its online sales campaign. The property giant is said to have “sold”...
  • Hong Kong's retail sector, battered by months-long protests, is likely to suffer further as the coronavirus outbreak has emptied shopping centers and closed down tourist attractions. Photo: Reuters

    HK property developers cut retail rents amid virus outbreak

    Feb 13, 2020 1:43pm
    Major shopping mall landlords in Hong Kong are offering cuts in February rent by as much as 60 percent to help tenants ride out the effects of the coronavirus outbreak. The city’s retail sector, battered by...
  • Amazon CEO Jeff Bezos bought the 3.8-hectare property from media mogul David Geffen, who acquired it in 1990 for US$47.5 million. Photo: Reuters

    Bezos buys Warner Estate in Beverly Hills for US$165 million

    Feb 13, 2020 10:54am
    Amazon chief executive Jeff Bezos, the world’s wealthiest person, has purchased a Beverly Hills mansion known as the Warner Estate from media mogul David Geffen for US$165 million, Reuters reports, citing a source familiar with the...
  • The relief measures cover individual and commercial mortgage borrowers who are severely affected by the novel coronavirus outbreak, Bank of China (Hong Kong) said. Photo: CNSA

    HK banks unveil relief measures for mortgage borrowers

    Feb 11, 2020 3:16pm
    At least two banks in Hong Kong have introduced relief measures for home mortgage borrowers hurt by the coronavirus outbreak, in a move analysts say could help lower foreclosures in an economy already in recession. Bank...
  • WeWork began its search for a new CEO in November following the departure of co-founder Adam Neumann. Photo: AFP

    WeWork names real estate industry veteran Mathrani as CEO

    Feb 3, 2020 7:29am
    SoftBank-backed WeWork named real estate industry veteran Sandeep Mathrani as its new chief executive, Reuters reports. Mathrani will join the company as the CEO from Feb. 18, and will report to Marcelo Claure, who will remain...
  • The proposal values WeWork China at around US$1 billion. Photo: Reuters

    Temasek, Trustbridge eye majority stake in WeWork China: report

    Jan 17, 2020 12:01pm
    Temasek Holdings and Trustbridge Partners have held talks with WeWork China over increasing their stake in the China branch of the troubled co-working startup to take majority ownership, three people familiar with the matter told Reuters....
  • Real estate investment in China grew 9.9 percent last year from the year-earlier period, outpacing a 9.5 percent gain in 2018. Photo: CNSA

    China property investment grows at solid pace

    Jan 17, 2020 11:21am
    China’s property investment hit a two-year low in December even as it grew at a solid pace in 2019, adding to recent signs of a slackening in the sector, Reuters reports. Real estate investment, which mainly...
  • Many analysts are forecasting a further slowdown in China's property market this year. Photo: Reuters

    China home prices grow at slowest pace in 17 months

    Jan 16, 2020 11:56am
    China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market, Reuters reports. Average new home prices in China’s 70 major cities...
  • Dongguan-based property developer Huijing Holdings saw its HK$1.4 billion initial public offering attract just 32 percent subscription. Photo: Huijing

(09966.HK), which focuses on urban rendevelopment in Dongguan, recorded one of the poorest invest

    Huijing IPO turns cold amid listing frenzy

    - Jan 15, 2020 12:43pm
    They say when it rains, it pours. But some end up with just trickles. Same thing with IPOs. Beijing-based mobile app developer NewBorn Town (09911) saw the retail tranche of its initial public offering oversubscribed 1,400...
  • Over the past two years, the typically more speculative first-tier home market has displayed smaller price gains than the lower tier Chinese cities. Photo: Reuters

    China property: Why policy easing impact may be different now

    - Jan 15, 2020 8:30am
    China loan prime rate (LPR) is down 16 basis points (bps) compared to half a year ago. Authorities have also cut the reserve requirement ratio (RRR) for commercial lenders, and there could be more such moves....
  • A good rule when investing in Australia at the moment would be to focus on the top three factors that will likely drive growth – affordability, infrastructure development, and foreign participation – in that order of priority. Photo: Reuters

    Global property markets: The 2020 market vision

    - Jan 13, 2020 1:25pm
    The year 2020 is shaping up to become a turning point for several key property markets around the world. The interesting confluence of different factors is driving them through long-term growth and short-term fluctuations. For those...
  • The WeWork IPO fiasco has led to doubts about the prospects of other firms in the same industry, including China's Ucommune. Representational image: Bloomberg

    Ucommune finds US investment bank to work on IPO: report

    Jan 10, 2020 2:59pm
    Ucommune, a Beijing-based shared workspace provider, has tapped a little-known US investment bank to help launch its initial public offering, Reuters reports, citing people familiar with the matter. The move came after Citigroup and Credit Suisse...
  • The judges accepted airbnb's arguments that it is an online platform and not a property agent. Photo: Reuters

    Airbnb wins fight to remain exempt from European property rules

    Dec 20, 2019 8:39am
    US home-sharing site Airbnb won its battle to remain exempt from onerous European property regulations as the EU’s top court ruled it was an online platform and not a property agent, Reuters reports. The case came...
  • WeWork said the new credit facility is in the process of syndication and is expected to be available in January. Photo: Reuters

    WeWork arranges US$1.75 billion credit line with Goldman Sachs

    Dec 18, 2019 8:39am
    Shared workplace operator WeWork said it has arranged a US$1.75 billion letter of credit with Goldman Sachs that is in the process of being syndicated and whose funds are expected to be available in January, Reuters...
  • ESR Cayman owns only about 20 percent of its portfolio on its balance sheet, with the rest owned by other investors. Photo: ESR

    REIT listing activities pick up in Hong Kong

    - Dec 13, 2019 1:15pm
    December is the second consecutive month that a new stock from the commercial property space has listed on the local exchange. ESR Cayman (01821.HK), a Beijing-based logistics operator with portfolio across the Asia Pacific, listed on...
  • Hong Kong's property market has begun to feel the impact of the months-long social disturbances in the city. Photo: Bloomberg

    HK home prices fall for 5th straight month

    Nov 29, 2019 1:10pm
    Private home prices in Hong Kong slipped for a fifth consecutive month in October, although the pace of decline slowed, following the massive social disturbances that rocked the city since June.  Home prices dropped 1.3 percent on...
  • Having acquired several troubled projects from local governments in China in the past, Sunac has now set its sights on Chengdu's mammoth New Century Global Centre. Photo:

    What’s prompting Sunac to buy 51% in world’s largest building?

    - Nov 29, 2019 10:49am
    Sunac China Holdings (01918.HK) has agreed to acquire 51 percent stake in the company that owns New Century Global Centre, the largest freestanding building in the world. New Century Global Centre, located in Chengdu in China’s...
  • Hong Kong stock exchange is set to see its first REIT listing since December 2014. Photo: Bloomberg

    China Merchants breaks five-year REIT listing drought for HK

    Nov 29, 2019 9:50am
    Hong Kong is set to welcome its first listing of a real estate investment trust in five years, with the China Merchants Commercial REIT seeking to raise up to US$400 million, Reuters reports. The REIT, which...