Hong Kong’s commercial RE market is booming by the billions

Money is pouring in from both local and mainland investors and developers

TRD New York TRD WEEKEND EDITION /
Jun.June 16, 2018 01:00 PM

(Credit: Pixabay)

A series of recent big commercial deals has propelled Hong Kong’s market to new heights.

According to Bloomberg, a new consortium made of two Chinese developers inked a record-breaking $5.1 billion deal with one of billionaire Li Ka-shing’s previous companies, which are now run by his son, Victor Li Tzar-kuoi. Meanwhile, Hong Kong’s government sold its first commercial property in the Central district in over two decades for $2.9 billion.

The most recent coup is a $1.8 billion deal that is reportedly in the works between Swire Properties and Hengli Investments Holding Group for two office and retail towers in Hong Kong. The parties are said to be in talks over the sale.

Hengli, a property investment fund, lists Chen Chang Wei as one of its directors; the company bought Lloyds Banking Group Plc’s headquarters in London last year. [Bloomberg]Erin Hudson


Related Articles

arrow_forward_ios
(iStock)

Who’s returning to the office? Almost no one

Who’s returning to the office? Almost no one
Joe Moinian and 123 Linden Blvd. (Moinian Group)

These were the top outer borough loans in July

These were the top outer borough loans in July
Clipper Equity's David Bistricer (REIT)

David Bistricer’s Clipper Realty reports record Q2 profit

David Bistricer’s Clipper Realty reports record Q2 profit
Vornado CEO Steven Roth and a rendering of the Farley Post Office building (Getty, iStock, SOM)

Vornado will install facial recognition tech in all its buildings

Vornado will install facial recognition tech in all its buildings
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Ivan Ko

Hong Kong developer pitches ground-up city in Ireland for HK expats

Hong Kong developer pitches ground-up city in Ireland for HK expats
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...