https://www-scmp-com.libproxy1.nus.edu.sg/rss/66916/feed Sun Hung Kai Properties is one of Hong Kong’s largest property groups, with revenue of HK$68.4 billion in the 2011-2012 financial year, and profit attributable to shareholders of HK$43.08 billion. The company has been shaken in recent years by disputes between family members, with chairman and chief executive Walter Kwok being forced to step down in a dispute with his brothers Thomas and Raymond. In March, the Independent Commission Against Corruption (ICAC) arrested senior officials as part of... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Ambrose Li Ambrose Li Hong Kong developer Sun Hung Kai Properties is betting big on arts and commercial projects at the West Kowloon Cultural District, banking on the city’s designated role as a cross-border asset and wealth management hub – even as the office rental market remains subdued. Sun Hung Kai Properties is positioning its projects to stand out within its 8 million sq ft portfolio of office and commercial space in West Kowloon, where it is also the sole developer in the arts hub building the Artist Square... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3347505/hong-kong-developer-banks-arts-and-finance-synergy-west-kowloon-cultural-hub?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3347505/hong-kong-developer-banks-arts-and-finance-synergy-west-kowloon-cultural-hub?utm_source=rss_feed Mon, 23 Mar 2026 00:30:20 +0000 Cheryl Arcibal Cheryl Arcibal JPMorgan Chase has committed to leasing about 250,000 sq ft of space in the new Sun Hung Kai Properties (SHKP) office towers in Hong Kong’s West Kowloon district for 10 years, making the US investment bank the anchor tenant of the 700,000 sq ft mixed-use development, the Hong Kong-listed developer said on Friday. Artist Square Towers (AST) will house the bank’s Kowloon office, which is currently located at The Quayside in Kowloon East, starting in the latter half of 2028, according to an... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3346491/jpmorgan-signs-anchor-tenant-shkps-west-kowloon-office-development?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3346491/jpmorgan-signs-anchor-tenant-shkps-west-kowloon-office-development?utm_source=rss_feed Fri, 13 Mar 2026 10:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, reported a 36.2 per cent year-on-year jump in first-half net profit to HK$10.25 billion (US$1.3 billion). Revenue rose 32 per cent to HK$52.7 billion for the six months ended December from a year earlier, while operating income increased 10.7 per cent to HK$13.4 billion, the developer said in a filing to the Hong Kong stock exchange on Thursday. Underlying profit, which discounts property revaluations, gained... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed Thu, 26 Feb 2026 10:23:04 +0000 Cheryl Arcibal Cheryl Arcibal Tycoon Li Ka-shing has added more than US$6 billion to his net worth, boosting his standing as Hong Kong’s richest individual and contributing to a US$65 billion increase in the assets of the city’s 50 richest people, according to Forbes. Li, whose business interests span real estate, infrastructure and pharmaceuticals via companies such as CK Asset Holdings and CK Hutchison, had a net worth of US$45.1 billion this year, up from US$38.9 billion in 2025, according to a list compiled by the... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed Thu, 12 Feb 2026 11:52:11 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers continued to show strong demand for new residential launches over the weekend, potentially pushing primary market transactions to a five-month high, according to agents. By 3.30pm on Saturday, about two-thirds of the 108 units released at Park Seasons – a Lohas Park project in Tseung Kwan O developed by Wheelock Properties and the city’s subway operator MTR Corp – had found buyers, agents said. On Friday, all 60 units on offer at K. Wah International’s Kabitat Tin Hau... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3341104/hong-kong-homebuyers-keep-robust-demand-new-launches-draw-brisk-sales?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3341104/hong-kong-homebuyers-keep-robust-demand-new-launches-draw-brisk-sales?utm_source=rss_feed Sat, 24 Jan 2026 09:01:03 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, sold out another batch of flats at its Sierra Sea project in the New Territories, the city’s largest residential project in two and a half decades. All 218 units launched on Wednesday found buyers, according to property agents. The developer previously sold out two rounds in the project this year: 213 flats on January 10 and 229 flats on Saturday. Following the enthusiastic response, SHKP will hold a preview... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3340702/hong-kong-homebuyers-snap-latest-flats-sierra-sea-shkp-set-another-sell-out?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3340702/hong-kong-homebuyers-snap-latest-flats-sierra-sea-shkp-set-another-sell-out?utm_source=rss_feed Wed, 21 Jan 2026 10:02:41 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties’ (SHKP) luxury residential projects in North Point and Mid-Levels have attracted well-heeled buyers, including a granddaughter of Hang Seng Bank’s co-founder, who snapped up a flat for HK$72 million (US$9.3 million), according to official records. Magdalene Ho Mai-ting bought the flat in Dynasty Court in Mid-Levels, one of Hong Kong’s upmarket neighbourhoods, according to Land Registry records, which showed the deal was registered on Wednesday. Ho is the granddaughter of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3335350/hang-seng-bank-co-founders-kin-pays-us93-million-hong-kong-luxury-flat?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3335350/hang-seng-bank-co-founders-kin-pays-us93-million-hong-kong-luxury-flat?utm_source=rss_feed Fri, 05 Dec 2025 09:15:43 +0000 Cheryl Arcibal Cheryl Arcibal Nine groups, including some of Hong Kong’s largest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings, Henderson Land and Chinachem Group – have submitted offers for a 70,127 sq ft parcel in Tsuen Wan in the New Territories. The Lands Department received the bids by noon on Friday, the deadline for the tender that began on September 26, according to a spokeswoman, who did not provide further details. The developers confirmed their participation in the tender to the Post. The site at... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3332837/hong-kongs-top-developers-vie-rare-tsuen-wan-site-test-land-market-rebound?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3332837/hong-kongs-top-developers-vie-rare-tsuen-wan-site-test-land-market-rebound?utm_source=rss_feed Fri, 14 Nov 2025 10:44:36 +0000 Cheryl Arcibal Cheryl Arcibal CK Asset Holdings, the flagship company of Hong Kong tycoon Li Ka-shing, and Sun Hung Kai Properties (SHKP), the city’s largest developer, are two of six bidders for a parcel of land in the New Territories that is estimated to provide 1,280 residential units and car park spaces. MTR Corp, one of the city’s major property developers and landlords, put up the Tuen Mun A16 Station package one property development for tender. Package one, with a maximum residential gross floor area of more than... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3331668/li-ka-shings-ck-asset-shkp-among-six-bidders-mtrs-tuen-mun-site?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3331668/li-ka-shings-ck-asset-shkp-among-six-bidders-mtrs-tuen-mun-site?utm_source=rss_feed Wed, 05 Nov 2025 12:31:49 +0000 Cheryl Arcibal Cheryl Arcibal Analysts said they had mixed views about Sun Hung Kai Properties’ (SHKP) shares after Hong Kong’s largest property developer by market capitalisation reported a slight increase in its full-year earnings. On Friday, Morningstar cut its price target for SHKP to HK$105 from HK$115, but said the company was trading at a good discount. UOB Kay Hian and Morgan Stanley said the earnings were largely in line with expectations. The US investment bank had an overweight recommendation and expected earnings... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3324530/analysts-mixed-outlook-sun-hung-kai-properties-shares-after-slight-profit-rise?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3324530/analysts-mixed-outlook-sun-hung-kai-properties-shares-after-slight-profit-rise?utm_source=rss_feed Fri, 05 Sep 2025 11:08:13 +0000 Yuke Xie Yuke Xie All 160 units of a new residential project by Sun Hung Kai Properties (SHKP) in Tuen Mun sold out on Saturday, buoyed by a recovering stock market and low interest rates, a sign that Hong Kong’s property market may be seeing a sustained rebound, according to analysts. The first round of sales for Novo Land Phase 3A offered 160 units at listed prices, with an additional five units available by tender. Prices started at under HK$3 million (US$382,173) for a three-bedroom flat. All available units... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317088/shkp-tuen-mun-project-sells-out-signalling-rebound-hong-kongs-property-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317088/shkp-tuen-mun-project-sells-out-signalling-rebound-hong-kongs-property-market?utm_source=rss_feed Sat, 05 Jul 2025 09:54:28 +0000 Cheryl Arcibal Cheryl Arcibal Emboldened by lower mortgage rates, Hong Kong homebuyers on Saturday purchased all 216 of the new units offered at Sun Hung Kai Properties’ Sierra Sea project in Sai Sha in the New Territories. All units found buyers within six hours of the sale, which began at 10am, according to agents. Another 25 units were available via tender. Earlier this week, the one-month Hong Kong interbank offered rate (Hibor), which is linked to mortgage loans, fell below 1 per cent for the first time since July 2022.... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3311663/hong-kong-homebuyers-flock-latest-sierra-sea-units-mortgage-rates-ease?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3311663/hong-kong-homebuyers-flock-latest-sierra-sea-units-mortgage-rates-ease?utm_source=rss_feed Sat, 24 May 2025 09:07:17 +0000 Salina Li Salina Li Hong Kong developers are hastening sales of new residential units at attractive prices amid improving market sentiment and a sharp drop in mortgage rates. On Monday, Wing Tai Properties and China Vanke’s Hong Kong unit priced flats in a project in the New Territories at around 8.5 per cent lower than recent nearby transactions in the secondary market. Meanwhile, New World Development (NWD) said on Monday that a new project in Wong Chuk Hang, developed with a consortium of builders, would offer... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3310937/hong-kong-home-builders-bring-new-flats-market-seizing-sentiment-surge?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3310937/hong-kong-home-builders-bring-new-flats-market-seizing-sentiment-surge?utm_source=rss_feed Mon, 19 May 2025 10:30:08 +0000 Aileen Chuang Aileen Chuang Sun Hung Kai Properties (SHKP) sold all 376 flats allocated to buyers of its Sierra Sea residential project on Sunday, capitalising on a sharp fall in interest rates and renewed optimism in the city’s stock market outlook. Hong Kong’s largest developer sold the units in phase 1B, according to sales agents, extending a hot selling streak since the company launched the project last month at prices near the levels last seen in 2013 in the area. The units included 39 one-bedroom flats, 271... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3310805/buyers-snap-73-shkps-sierra-sea-flats-sale-hot-streak-continues?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3310805/buyers-snap-73-shkps-sierra-sea-flats-sale-hot-streak-continues?utm_source=rss_feed Sun, 18 May 2025 07:50:22 +0000 Cheryl Arcibal Cheryl Arcibal Three of Hong Kong’s biggest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings and Henderson Land – are expected to dominate the housing market, as homebuyers increasingly prefer smaller flats amid economic jitters, according to JLL. The trio were set to deliver 60 per cent of new residential units in 2025 and 2026, up from 40 per cent in 2023 and 2024, according to the property consultancy. Sales of class A units – measuring 431 sq ft or smaller – accounted for more than 60 per... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3309536/shkp-ck-asset-henderson-dominate-hong-kong-housing-amid-demand-small-units?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3309536/shkp-ck-asset-henderson-dominate-hong-kong-housing-amid-demand-small-units?utm_source=rss_feed Thu, 08 May 2025 23:00:08 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP) sold out the latest batch of flats in its massive Sierra Sea development in the New Territories on Wednesday despite a nearly 10 per cent increase in prices. Hong Kong’s largest developer sold all 128 flats on offer via regular sale at the 9,700-unit project as of 7pm, according to agents, after the sale began at 3pm. The project in Shap Sze Heung, located between Sai Kung and Ma On Shan, is one of the city’s largest residential developments since 1999. The first... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3309435/brisk-hong-kong-home-sales-continue-sun-hung-kai-properties-sierra-sea?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3309435/brisk-hong-kong-home-sales-continue-sun-hung-kai-properties-sierra-sea?utm_source=rss_feed Wed, 07 May 2025 11:00:29 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP) is launching another batch of flats in its Sierra Sea project in the New Territories following two consecutive sold-out weekends in one of Hong Kong’s largest residential projects in more than a quarter century. On Wednesday, Hong Kong’s largest developer will offer 150 flats in the 9,700-unit project in Shap Sze Heung, located between Sai Kung and Ma On Shan. The flats range in size from 301 sq ft to 702 sq ft. The units are priced between HK$12,675 (US$1,635) and... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3309109/hong-kong-developer-shkp-rushes-out-more-sierra-sea-flats-amid-surge-mainland-buyers?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3309109/hong-kong-developer-shkp-rushes-out-more-sierra-sea-flats-amid-surge-mainland-buyers?utm_source=rss_feed Mon, 05 May 2025 09:00:17 +0000 Leopold Chen,Cheryl Arcibal Leopold Chen,Cheryl Arcibal More homebuyers in Hong Kong surrendered their deposits on new flat purchases last year, and property agents expect such defaults to continue at a high level amid elevated interest rates and uncertainty about the direction of the city’s property market. A report from property agency Centaline showed that 449 buyers of first-hand property forfeited their deposits last year, a 75 per cent increase from a year earlier and the highest since 2019. The final quarter saw 104 such cases, just short of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3295691/hongkongers-keep-forfeiting-flat-deposits-high-rate-agents-forecast?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3295691/hongkongers-keep-forfeiting-flat-deposits-high-rate-agents-forecast?utm_source=rss_feed Wed, 22 Jan 2025 00:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developers are poised to launch at least six new projects with a total of 2,800 flats in September as they bet on a more active local property market thanks to expected policy easing by the US Federal Reserve, according to one of the city’s largest agencies. Centaline Property Agency forecasts that September will see as many as 2,000 first-hand home transactions, four times more than the 500 deals expected this month, if the rate cut comes through. “If indeed the US Fed cuts the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3275998/hong-kong-developers-ready-2800-new-flats-await-interest-rate-catalyst-sales?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3275998/hong-kong-developers-ready-2800-new-flats-await-interest-rate-catalyst-sales?utm_source=rss_feed Tue, 27 Aug 2024 00:30:11 +0000 Hong Kong’s appetite for new homes is almost sated, as a weekend property launch left dozens of flats unsold while a leftover project barely received a look-in. In Tuen Mun, Sun Hung Kai Properties (SHKP) sold 186 units, or 83 per cent of the 223 flats in Phase 2A of its Novo Land project, a setback compared with a week ago when all 188 flats on offer found buyers, according to sales agents. Over at Ho Man Tin, Chinachem Group found just one buyer for the 66 larger apartments on sale at In One... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3224454/hong-kongs-appetite-new-homes-almost-sated-weekend-sales-washes-out-amid-looming-property-supply?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3224454/hong-kongs-appetite-new-homes-almost-sated-weekend-sales-washes-out-amid-looming-property-supply?utm_source=rss_feed Sat, 17 Jun 2023 12:21:10 +0000 Homebuyers on Saturday snapped up flats put on the market at Sun Hung Kai Properties’ (SHKP) University Hill project in Tai Po, highlighting a much improved economic sentiment among homebuyers concerning the city’s battered property market. As of 5.30pm, 159 of the 160 units available in open sale had found a buyer, agents said. Another 23 units were available via tender. The sale comes a day after preliminary figures released by the Hong Kong government showed that the city’s economy expanded... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3220459/sun-hung-kai-properties-latest-sale-continues-hot-streak-homebuyers-snap-flats-show-economic?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3220459/sun-hung-kai-properties-latest-sale-continues-hot-streak-homebuyers-snap-flats-show-economic?utm_source=rss_feed Sat, 13 May 2023 09:59:28 +0000 Homebuyers turned up in droves and snapped up the second batch of flats at Sun Hung Kai Properties’ University Hill project in Tai Po, New Territories, on Thursday, even after HSBC raised its prime rate within hours of the latest interest-rate hike by Hong Kong’s de facto central bank. Hong Kong’s biggest developer sold out all 191 units available by 5.30pm, suggesting that homebuyers have shrugged off rising mortgage loan costs, according to agents. “The market expects this to be the last round... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3219394/hong-kong-homebuyers-ignore-rising-interest-rates-they-snap-flats-sun-hung-kai-properties-university?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3219394/hong-kong-homebuyers-ignore-rising-interest-rates-they-snap-flats-sun-hung-kai-properties-university?utm_source=rss_feed Thu, 04 May 2023 10:30:16 +0000 At least 8,000 potential buyers will compete for 160 homes at Sun Hung Kai Properties’ University Hill development in Tai Po, which officially hits the market on Saturday with discounted prices in place and amid a surge of Chinese visitors expected in the city. The sale coincides with the start of a five-day holiday known as a golden week of tourism in mainland China, with more than 600,000 Chinese tourists expected to visit Hong Kong. At least 500 buyers will be vying for every unit on offer... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3218615/least-8000-buyers-vie-160-homes-sun-hung-kai-properties-tai-po-project-chinas-golden-week-starts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3218615/least-8000-buyers-vie-160-homes-sun-hung-kai-properties-tai-po-project-chinas-golden-week-starts?utm_source=rss_feed Thu, 27 Apr 2023 13:00:19 +0000 The recent sale of a parcel of prime commercial land in Mong Kok for 61 per cent less than the HK$12 billion (US$1.53 billion) some thought it might be worth is likely to mean a more handsome margin for Sun Hung Kai Properties (SHKP), rather than any profound change to the city’s real estate fundamentals, according to analysts. SHKP prevailed over two other bidders to secure the 124,184 sq ft plot on March 1, winning the right to develop and lease the land for 50 years for HK$4.73 billion. That... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3212425/cheaper-land-hong-kong-what-low-price-parcel-sales-mean-buyers-renters-developers-and-government?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3212425/cheaper-land-hong-kong-what-low-price-parcel-sales-mean-buyers-renters-developers-and-government?utm_source=rss_feed Mon, 06 Mar 2023 00:00:27 +0000 Sun Hung Kai Properties (SHKP) is selling its newest apartments in Hong Kong at double-digit discounts, and offering deferred payments to selected customers, becoming the latest developer to offer incentives to bow to first-home buyers’ demand for affordable housing. The first 165 apartments in phase 1A at the Novo Land project in Tuen Mun were priced at an average of HK$13,188 per square foot, about 12 per cent cheaper than the launch price last month at CK Asset Holding’s Grand Jete project in... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3185955/sun-hung-kai-offers-steep-discounts-deferred-payment-plans-novo-land-tuen?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3185955/sun-hung-kai-offers-steep-discounts-deferred-payment-plans-novo-land-tuen?utm_source=rss_feed Thu, 21 Jul 2022 00:30:23 +0000 Buyers piled into Hong Kong’s property market for the second consecutive weekend after the 75-point interest rate hike by the city’s monetary authority, snapping up two-thirds of new apartments on offer. In Tuen Mun on the western fringe of Hong Kong’s New Territories, 91 of 138 flats on sale at the Grand Jete found buyers at 9pm, sales agents said. The project by CK Asset Holdings and Sun Hung Kai Properties (SHKP) range in size from 263-square foot studios to three-room flats measuring 722... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3183074/hong-kongs-homebuyers-snap-grant-jetes-new-flats-tuen-mun-get-ahead-rising?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3183074/hong-kongs-homebuyers-snap-grant-jetes-new-flats-tuen-mun-get-ahead-rising?utm_source=rss_feed Sat, 25 Jun 2022 10:57:17 +0000 Hong Kong property developers are offering new projects at lower starting prices to stimulate sales in an environment of rising interest rates and increasing supply of flats. Sun Hung Kai Properties (SHKP), Hong Kong’s biggest developer by sales, for instance, on Sunday set the starting price for a 217 sq ft flat at its Silicon Hill project at HK$3.85 million (US$490,460) in its latest price list. This was lower than the HK$4.97 million it asked for a 291 sq ft flat in the first round of sales... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3182428/hong-kong-developers-lower-prices-generate-sales-amid-interest-rate-hikes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3182428/hong-kong-developers-lower-prices-generate-sales-amid-interest-rate-hikes?utm_source=rss_feed Mon, 20 Jun 2022 23:30:09 +0000 Hong Kong’s property buyers piled into the market to snap up 70 per cent of 332 new flats on offer at three projects across the city, taking advantage of the breathing room offered by banks this week when they deferred raising their mortgage rates. In Hung Hom, 126 of the 182 flats at Henderson Land Development’s Baker Circle Dover project found buyers at 5pm, with about 12 bids chasing every available flat, according to sales agents. Over at Sham Shui Po, Ascend Speed sold two of the first... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3182215/hong-kongs-buyers-snap-70-cent-new-homes-offer-casting-aside-hkmas-75?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3182215/hong-kongs-buyers-snap-70-cent-new-homes-offer-casting-aside-hkmas-75?utm_source=rss_feed Sat, 18 Jun 2022 10:04:23 +0000 Sun Hung Kai Properties (SHKP)’s Silicon Hill flats have sold out for the second consecutive weekend, as homebuyers plunged into Hong Kong’s housing market to get ahead of higher interest rates. Every one of the 198 flats on offer – including eight for sale by tender – at the project at Pak Shek Kok in Tai Po district sold out, according to sales agents. The flats, ranging from 217 to 770 square feet (71.5 square metres), were priced between HK$3.79 million and HK$11.34 million (US$1.44... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3181344/hong-kong-homebuyers-snap-sun-hung-kais-silicon-hill-flats-second-weekend?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3181344/hong-kong-homebuyers-snap-sun-hung-kais-silicon-hill-flats-second-weekend?utm_source=rss_feed Sat, 11 Jun 2022 11:25:09 +0000 From trying to disrupt the domestic work industry in Hong Kong, proptech firm Butler has shifted its focus to providing services to both landlords and tenants in residential buildings, improving on what its founders say is an antiquated “pen and paper” approach to property management. Hongkongers Jonathan Lam, Angues Chan and Jeffrey Ma founded Butler in 2018, with the aim of providing concierge services to tenants and homeowners in Hong Kong. The company has raised about US$1 million (HK$7.85... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3180609/hong-kong-proptech-start-butler-expands-beyond-concierge-services-signs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3180609/hong-kong-proptech-start-butler-expands-beyond-concierge-services-signs?utm_source=rss_feed Tue, 07 Jun 2022 23:30:21 +0000 The Hong Kong government on Tuesday rejected all five bids received for a 1.3 million square feet residential site in Tuen Mun, the first to be subject to a 280 sq ft minimum flat size requirement, as all tenders were below the reserve price. “All five tenders received for the sale of a residential site in Tuen Mun town lot no. 561 at Castle Peak Road – Tai Lam, Tuen Mun, have been rejected as their tendered premiums did not meet the government’s reserve price for the site,” the Lands Department... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3175605/hong-kong-government-rejects-all-bids-tuen-mun-site-first-land-sale-carry?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3175605/hong-kong-government-rejects-all-bids-tuen-mun-site-first-land-sale-carry?utm_source=rss_feed Tue, 26 Apr 2022 13:44:20 +0000 Hong Kong’s home prices could drop 10 per cent in the first half, as the city’s worsening Covid-19 outbreak caused the first three months to be a washout for property sales, forcing analysts to reverse their forecasts. Home prices may fall by 5 per cent in 2022, according to the property consultant Colliers, as it reversed its earlier forecast of a 3-per cent gain in mass-market homes, and a 5-per cent increase in the luxury market. Collier’s reversal is the most dramatic change among four... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3170347/hong-kong-analysts-reverse-bullish-forecasts-u-turn-property-market-home?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3170347/hong-kong-analysts-reverse-bullish-forecasts-u-turn-property-market-home?utm_source=rss_feed Mon, 14 Mar 2022 03:40:18 +0000 Henderson Land Development may have set a record by bidding HK$50.8 billion (US$6.5 billion) for Hong Kong’s most coveted commercial plot in the main business zone of Central, but the city is no stranger to eye-watering land deals. Henderson Land’s record bid beat out five contenders in the government’s “two-envelope” tender for the harbourfront plot in Central. North of the city’s old General Post Office and next to the International Finance Centre, the plot measures 516,316 sq ft (47,967... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3154890/after-henderson-lands-record-bid-here-are-five-other-most-expensive-land?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3154890/after-henderson-lands-record-bid-here-are-five-other-most-expensive-land?utm_source=rss_feed Thu, 04 Nov 2021 23:30:22 +0000 Hong Kong’s biggest developers are joining the rush to build small flats to woo young buyers as prices in the world’s most expensive housing market approach an all-time high. The move is being criticised by a senior adviser to Beijing for its profit motive. Sun Hung Kai Properties (SHKP) plans to build 5,400 units in Sai Kung, with the smallest featuring a usable floor area of about 88 square feet (8.2 square metres), according to a filing with the Buildings Department. In Kowloon, a consortium... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3149652/sun-hung-kai-properties-wheelock-among-developers-rushing-build-small?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3149652/sun-hung-kai-properties-wheelock-among-developers-rushing-build-small?utm_source=rss_feed Thu, 23 Sep 2021 01:30:17 +0000 Private flats to be built under a plan to tap Hong Kong developers’ land reserves will not necessarily cost more and is a “win-win” solution for all stakeholders, even though most of the land is earmarked for public housing under the proposal, according to Ricky Wong Kwong-yiu, managing director of Wheelock Properties. Under the Land Sharing Pilot Scheme initiated in May last year, owners of farmland can apply to the government to increase the development density of their sites, but they must... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3149456/wheelock-says-its-proposal-build-homes-under-land-sharing-scheme-win-win?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3149456/wheelock-says-its-proposal-build-homes-under-land-sharing-scheme-win-win?utm_source=rss_feed Mon, 20 Sep 2021 23:30:39 +0000 Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by value, said a more normal flow of people between the city and mainland China could boost the city’s retail and hospitality industries. The progress of vaccinations among the public and the lifting of cross-border travel restrictions were prerequisites for a full recovery of the retail sector, Raymond Kwok Ping-luen, SHKP’s chairman and managing director, said in an exchange filing on Thursday. “In the short term, cross-border... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3148173/sun-hung-kai-chairman-pins-retail-hospitality-recovery-hopes-normal-flow?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3148173/sun-hung-kai-chairman-pins-retail-hospitality-recovery-hopes-normal-flow?utm_source=rss_feed Thu, 09 Sep 2021 11:30:15 +0000 In the last of a three-part series on Hong Kong’s housing crisis, the Post looks at the city’s property developers and their role in the dire situation. Read part one here and part two here. Thousands of new high-rise homes have come on the market over the past two years in Tai Po, in the eastern corner of Hong Kong’s New Territories facing Tolo Harbour. In a city facing a housing crisis where demand far outstrips supply, a large number of completed flats have remained unsold in Pak Shek Kok,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3144725/hong-kongs-housing-crisis-how-much-blame-homes-crunch-lies-citys-property?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3144725/hong-kongs-housing-crisis-how-much-blame-homes-crunch-lies-citys-property?utm_source=rss_feed Fri, 13 Aug 2021 00:00:19 +0000 Sandy Li Sandy Li Wing Tai Properties will expand its affordable luxury concept for millennials at its upcoming project in Kwu Tung, New Territories, where it set a price record in terms of square footage for the land it acquired last month. The Hong Kong developer said that the concept leverages its experience of designing luxury developments, opening up a new product line that appeals to a new generation of buyers seeking affordable prices. This has resulted in strong sales at The Carmel, Oma Oma, and Oma by... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3143516/wing-tai-bets-affordable-luxury-concept-kwu-tung-after-tuen-mun-projects?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3143516/wing-tai-bets-affordable-luxury-concept-kwu-tung-after-tuen-mun-projects?utm_source=rss_feed Mon, 02 Aug 2021 23:30:12 +0000 Hong Kong’s real estate buyers mostly ignored a weekend sale of leftover apartments at four residential projects, as they await newer offerings to come on to the market. Investors bought 30 of the combined 191 flats on offer at Seaside Sonata and Grand Victoria III in Cheung Sha Wan, as well as Aquila. Square Mile and Cetus. Square Mile in Tai Kok Tsui, representing 16 per cent of the total on offer this weekend. “These homes have been on the market for some time, and are more expensive than... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3142398/hong-kongs-real-estate-buyers-give-their-cold-shoulders-leftover-flats?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3142398/hong-kongs-real-estate-buyers-give-their-cold-shoulders-leftover-flats?utm_source=rss_feed Sat, 24 Jul 2021 12:09:20 +0000 Hong Kong’s New Territories, the area south of the city’s border with China, is no longer as inaccessible as in decades past, as new transport links closed the distance with Kowloon and the rest of the city. The price gap between such New Territories districts like Sha Tin, and areas on the Kowloon peninsula like Tai Kok Tsui has also narrowed, underscoring the changing trends as first-home buyers and younger couples moved out further afield from Hong Kong Island. The change began in December... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3141676/new-territories-homes-lose-their-discounts-kowloon-hong-kongs-longest?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3141676/new-territories-homes-lose-their-discounts-kowloon-hong-kongs-longest?utm_source=rss_feed Tue, 20 Jul 2021 23:30:13 +0000 Half a dozen real estate developers owned by Hong Kong’s wealthiest families have thrown their hats into the ring to bid for the largest plot of harbourfront commercial land in Central, in a test of the property market that offers a peek into the city’s future standing as an Asian financial hub. Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market value, controlled by the Kwok family, confirmed that it submitted a bid for Site 3 at Connaught Place in Central, a 516,316 square... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3137906/hong-kongs-largest-developers-and-richest-families-pile-blockbuster?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3137906/hong-kongs-largest-developers-and-richest-families-pile-blockbuster?utm_source=rss_feed Fri, 18 Jun 2021 09:17:25 +0000 Buyers piled into Hong Kong’s biggest weekend property sales in seven months, snapping up new homes on offer at three locations across the city over the Labour Day holiday weekend, as they set aside concerns of a flare-up in coronavirus cases to park their investments in fixed assets. Investors and owner-occupiers bought 379 flats, or 76 per cent of the 500 units on offer across the city as of 8.40pm, according to sales agents. The total tally excluded 10 luxury units which were sold without... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3131890/buyers-pile-hong-kongs-biggest-weekend-property-sales-seven?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3131890/buyers-pile-hong-kongs-biggest-weekend-property-sales-seven?utm_source=rss_feed Sat, 01 May 2021 10:00:17 +0000 An increasing number of housing estates in Hong Kong are becoming more pet friendly in a nod to homebuyers and residents who have adopted cats and dogs during the coronavirus pandemic, developers said. About half of the city’s major estates now allowed pets, up from 40 per cent in 2018, according to property consultancy Knight Frank. “As people have been staying home and in town because of travel restrictions … more developers have considered adding some pet-friendly facilities to their... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3130275/work-home-deals-put-cats-and-dogs-centre-households-compelling?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3130275/work-home-deals-put-cats-and-dogs-centre-households-compelling?utm_source=rss_feed Wed, 21 Apr 2021 02:00:13 +0000 Sun Hung Kai Properties (SHKP) is kicking off Hong Kong’s first “multigeneration” housing project, offering facilities that cater equally for the young and the elderly, as the city’s largest developer adjusts its real estate designs to a rapidly greying population. Up to 20 per cent, or 303 of the 1,518 apartments at the developer’s proposed project in Tung Shing Lei, a seven-minute walk from the Yuen Long subway station in the New Territories, will be configured specifically for the elderly,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3128457/hong-kong-developers-kick-multigeneration-housing-projects-elderly-live?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3128457/hong-kong-developers-kick-multigeneration-housing-projects-elderly-live?utm_source=rss_feed Wed, 07 Apr 2021 01:30:06 +0000 There is still no light at the end of the tunnel for Hong Kong’s major property developers after a painful year in which their hotel and retail businesses took a particular drubbing, according to analysts and industry figures. Three of the city’s biggest commercial property landlords revealed sizeable falls in profit for 2020 as travel restrictions kept visitors at bay and brought the city’s economy to a virtual standstill. “Various domestic and external challenges will continue to weigh on the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3123165/outlook-major-hong-kong-developers-still-gloomy-covid-19-travel?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3123165/outlook-major-hong-kong-developers-still-gloomy-covid-19-travel?utm_source=rss_feed Thu, 25 Feb 2021 23:30:07 +0000 The five bids for a rare plot of land in Hong Kong’s upmarket The Peak district were in line with expectations and hinted at optimism about the city’s luxury residential market, analysts said. The government tender for the plot at 9 and 11 Mansfield Road closed on Friday, and could fetch up to HK$7.5 billion (US$970 million). The land is next to 2,4,6 and 8 Mansfield Road, where some of Hong Kong’s civil servants were previously housed. “The number of bids was within my expectations of between... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3120759/bids-us970-million-mansfield-road-plots-peak-line-expectations?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3120759/bids-us970-million-mansfield-road-plots-peak-line-expectations?utm_source=rss_feed Fri, 05 Feb 2021 10:57:43 +0000 Hong Kong property company New World Development’s (NWD) Pavilia Farm project has been a bright spot in an otherwise dismal year for the city’s real estate sector. The project, developed in partnership with transit operator and property developer MTR Corporation, has sold about 2,100 units in around six weekends for almost HK$23.8 billion (US$3.06 billion). NWD reported sales of HK$26.4 billion in the first 11 months of this year, which may help it displace Sun Hung Kai Properties (SHKP) as Hong... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3114535/hong-kong-listed-new-world-developments-pavilia-farm-bright-spot-otherwise?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3114535/hong-kong-listed-new-world-developments-pavilia-farm-bright-spot-otherwise?utm_source=rss_feed Sun, 20 Dec 2020 01:45:18 +0000 Hong Kong’s biggest developer by value, Sun Hung Kai Properties, and Chinachem Group said they may bid for a prime plot of commercial land to be sold via a rare tender process that takes into account participants’ design plans as well as cash bids. The government is using a “two-envelope” approach for the sale of New Central Harbourfront Site 3, meaning the winner will be determined by assessing both price and design proposal. This deviates from the practice of awarding sites based on the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3114585/sun-hung-kai-properties-chinachem-group-may-bid-rare-two-envelope-tender?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3114585/sun-hung-kai-properties-chinachem-group-may-bid-rare-two-envelope-tender?utm_source=rss_feed Fri, 18 Dec 2020 14:37:51 +0000 Hong Kong’s homebuyers shrugged aside concerns of a fourth wave of coronavirus infections in the city to snap up new property over the weekend, confident in their belief that mortgage rates would remain low in the near future. Minmetals Land, the property subsidiary of one of China’s largest metallurgical producers, sold 246 of the first 279 units on offer at its Montego Bay project in Yau Tong as of 9:30pm, with as many as 17 buyers bidding for every available flat, agents said. At Nam Cheong,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3111771/homebuyers-pile-new-flats-low-rates-spur-them-shrug-aside-concerns-hong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3111771/homebuyers-pile-new-flats-low-rates-spur-them-shrug-aside-concerns-hong?utm_source=rss_feed Sat, 28 Nov 2020 11:18:43 +0000 Hong Kong's biggest weekend property sale in 14 months fizzled out after an initial buzz, as buyers took their pick of 726 flats offered in six locations across the city, snapping up the lower-priced units that qualified for mortgage financing. Six developers managed to sell 293 flats, or 40 per cent of the total offer between them as of 9:30pm, agents said. The sale, which was a mixed success earlier in the day, failed to make progress in the afternoon when most of the buying interest focused... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3103177/hong-kongs-biggest-weekend-home-sales-14-months-gets-good-start-tapering?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3103177/hong-kongs-biggest-weekend-home-sales-14-months-gets-good-start-tapering?utm_source=rss_feed Sat, 26 Sep 2020 10:54:23 +0000