21 February 2020

Property and Construction

  • WeWork was recently valued at US$47 billion in a private fundraising round. Photo: Bloomberg

    WeWork looking to go public as early as September: report

    Jul 24, 2019 10:09am
    Shared office space manager WeWork is looking to go public as soon as September, earlier than previously expected, Reuters reports, citing a person familiar with the matter. The company is expected to make its initial public...
  • OYO founder Ritesh Agarwal has adopted an aggressive expansion model in the China market. Photo: Bloomberg

    India’s budget hotel startup OYO takes the fast lane in China

    - Jul 19, 2019 9:29am
    In less than two years, Indian budget hotel operator OYO has become the largest hotel chain in China. Jinjiang Inn, Huazhu Hotels Group and Home Inns Group used to occupy the top three positions. They control...
  • Louisa Mak is seen with her parents at the sales office of the T Plus residential project in Tuen Mun on Sunday. Photo: HKEJ

    Miss Hong Kong buys three of the smallest flats in the city

    - Jul 15, 2019 11:49am
    Miss Hong Kong is a ticket to fame and fortune. Winners of the annual beauty pageant, which was established in 1973, usually end up marrying some rich guy and living in luxury. They certainly don’t end...
  • James Dyson bought the three-storey penthouse at the top of Singapore’s tallest building, Tanjong Pagar Centre (right), for S$73.8 million (US$54.2 million).  Photo: Reuters

    UK billionaire Dyson snaps up Singapore’s priciest penthouse

    Jul 10, 2019 4:53pm
    British billionaire and inventor of the bagless vacuum cleaner James Dyson has bought the most expensive apartment in Singapore, where his company plans to build an electric car. The three-storey “super penthouse” at the top of...
  • Money-losing WeWork has faced questions about the sustainability of its business model. Photo: Bloomberg

    WeWork seeks up to US$4 billion in debt before IPO: report

    Jul 8, 2019 9:19am
    Shared office space manager WeWork Cos is looking to raise US$3 billion to US$4 billion in debt before it goes public, Reuters reports, citing a person familiar with the matter. The potential debt offering underscores the...
  • China Evergrande CEO Xia Haijun bought a penthouse at The Pavilia Hill in Tin Hau for HK$155 million. Photo: HKEJ

    Evergrande boss snaps up Tin Hau penthouse

    - Jul 4, 2019 12:02pm
    Mainland property companies may be slowing down in buying up Hong Kong land, but rich mainlanders continue to snap up luxury homes in the city. The latest to do so is China Evergrande Group (03333.HK) chief executive...
  • The adoption of flexible work space can help reduce overall rental bill. Photo: Bloomberg

    More companies turning to co-working space

    - Jul 3, 2019 8:00am
    June was anything but uneventful in Hong Kong. Curiously, however, the stock market performed relatively well over the month. The Hang Seng Index rose about 6 percent for the month. While more moderate news flow regarding...
  • It remains to be seen whether the extradition bill saga will have a lasting impact on the housing market. Photo: Reuters

    Will political turmoil weigh on HK housing market?

    - Jun 21, 2019 2:57pm
    The extradition bill has spurred massive protests in Hong Kong. Chief Executive Carrie Lam Cheng Yuet-ngor has offered her apology after suspending the bill. It remains unclear when and how the political saga will end. And...
  • Goldin, which won the tender in May this year with a bid of HK$11.1 billion, has paid a non-refundable deposit of HK$25 million for the site at the Kai Tak Development Area in Kowloon East. Photo: HKEJ

    Goldin abandons Kai Tak land deal, forfeits HK$25 million

    Jun 12, 2019 2:42pm
    Amid widespread concerns over the government’s extradition bill, a local financial company has decided to walk away from a land deal in Kai Tak and forfeit HK$25 million as a result. In a stock exchange filing on...
  • It is estimated that Hongkongers own a total of HK$700 billion in foreign property, or about a quarter of a year’s worth of GDP.  Photo: Reuters

    Why HK is a distribution center for property projects worldwide

    - Jun 3, 2019 11:17am
    According to a recent study by Citibank, Hong Kong has 511,000 residents with at least HK$10 million (US$1.28 million) in assets. These ten-millionaires hold, on average, 1.9 properties in Hong Kong, 0.6 property in mainland China,...
  • Lee Shau-lee is flanked by his sons Peter (right) and Martin at Henderson Land's annual shareholders meeting on Tuesday. Photo: HKEJ

    Tycoon Lee Shau-kee, 91, hands over business empire to sons

    May 29, 2019 4:39pm
    Lee Shau-kee, Hong Kong’s second-richest man after Li Ka-shing, has officially retired, following a similar move made by Li last year. Lee, 91, stepped down as chairman and managing director of Henderson Land Development (00012.HK) because of his...
  • Shop owners at T.mark have learned the value of banding together. Photo: Facebook

    How a dying mall in Tsuen Wan was able to bounce back to life

    - May 7, 2019 4:24pm
    In Hong Kong, we hear a lot of stories about subdivided malls slowly dying.  But T.mark in Tsuen Wan is an exception. It’s been reported that an 84 square foot shop in T.mark has recently changed...
  • An illustration photo used for Marriott's new home rental service Homes & Villas, which is launching next week. Photo: Marriott

    Marriott expands into home rentals, taking on Airbnb

    Apr 30, 2019 11:26am
    Marriott International, the world’s largest hotel company, is launching a home-sharing service, challenging Airbnb and other firms that are operating in that space. Confirming a Wall Street Journal report, Marriott said its new home-sharing service will...
  • Hongkongers hope to buy their own homes, which are “brick and mortar”, but the housing bubble resulting from an overheated property market is “virtualized”. Photo: CNSA

    The real economy

    - Apr 17, 2019 6:33pm
    The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area has mentioned the term “real economy”, but hasn’t bothered to explain the term. Over the years, mainland media have often drawn a distinction between businesses...
  • Calzedonia has renewed its lease on a 400-square-foot shop in Causeway Bay. Photo: Wikimedia Commons

    Calzedonia pays big to stay in Causeway Bay

    - Apr 15, 2019 1:09pm
    How many socks and leggings does Calzedonia have to sell in Causeway Bay to make enough money just to pay its landlord? The Italian fashion brand has renewed its lease on a 400-square-foot shop at 60A...
  • As web retailing evolves, it develops a need for retail space. Hong Kong's HKTVmall, for instance, now has 46 stores to help increase brand awareness and to serve as goods pick-up points for customers. Photo: Yahoo

    How web retailing boosts demand for logistics space

    - Apr 10, 2019 11:00am
    Like other modern economies, Hong Kong is seeing respectable growth in web retailing. For example, HKTVmall has now established itself as an online supermarket and vendor of various goods. According to the latest financial announcements, HKTVmall...
  • Office demand in Hong Kong is robust enough to not only absorb new supply but also bring in continued rental increases, says an industry watcher. Photo: Reuters

    Rental trend remains supportive for Hong Kong REIT plays

    - Apr 8, 2019 10:09am
    Stock market sentiment picked up remarkably during the first quarter of 2019, with trading volumes in the equity, bond, and over-the-counter markets all recording heavy trading. According to our conversations with market participants, some institutional traders...
  • If the unemployment rate spikes, mortgages would become less affordable, and this would have an impact on the property market. Photo: Reuters

    Will HK housing market continue to strengthen?

    - Apr 1, 2019 10:43am
    Hong Kong’s housing market has rebounded along with the stock market. Transaction volumes have been picking up, and several new projects are selling very well. Does that mean the housing price will keep moving up and...
  • Evergrande's Xu Jiayin has outlined big ambitions for the electric car business, but investors aren't too convinced about the merits of the large-scale diversification. Photo: Bloomberg

    China property tycoons’ new ventures keep investors wary

    - Mar 29, 2019 10:38am
    Chinese property giant Evergrande (03333.HK) announced stellar 2018 figures this week. Sales jumped 49.9 percent from a year earlier to 466.2 billion yuan and net profit soared 53.4 percent to 37.4 billion yuan. Despite making more...
  • Henderson Land Development chairman and managing director Lee Shau-kee is flanked by sons Peter (right) and Martin. Photo: HKEJ

    Lee Shau-kee plans to retire, hand over reins to two sons

    Mar 21, 2019 2:35pm
    Property magnate Lee Shau-kee, 91, is considering stepping down from his posts as chairman and managing director of Henderson Land Development (00012.HK) for “being advanced in age”, the company said in a filing to the Hong...