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

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

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
Medical staff outside of a Beijing hospital in February 2020 (Credit: Getty Images)

Coronavirus is wreaking havoc on China’s landlords

Brookfield Asset Management CEO Bruce Flatt

“We underwrite every investment like we’re going to hit a recession”: Brookfield CEO

China’s coronavirus outbreak appears to be slowing property sales activity in affected areas of China. (Credit: iStock)

How Chinese developers are exposed to Coronavirus

China’s prefabricated hospital in Wuhan on January 30. (Credit: Getty Images)

Building the Coronavirus hospital in just 10 days

Cadre founder Ryan Williams and Allen Smith

Cadre brings on former Four Seasons CEO as president

AKS Capital Partners Managing Partners Aaron Appel and Walker & Dunlop CEO Willy Walker

Walker & Dunlop acquires Aaron Appel’s AKS Capital Partners

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

arrow_forward_ios
Loading...