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SHKP

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 a corruption probe that also included former chief secretary Rafael Hui.

last updated:

27 August, 2024

SHKP

2,800 flats poised to launch in Hong Kong as market awaits rate cut

Property agents predict September sales may quadruple from August’s level if the Fed embarks on policy easing as expected when it meets on September 17 - 18.

Hong Kong’s weekend home sale sags amid looming supply

Sun Hung Kai Properties continues hot streak in latest sale amid economic upswing

Hong Kong homebuyers ignore rising rates to snap up flats in New Territories

Sun Hung Kai Properties sold all 191 flats on offer by 5.30pm on Thursday, hours after HSBC raised its best lending rate by 12.5 basis points to 5.75 per cent.

At least 8,000 buyers to vie for 160 homes at Sun Hung Kai’s Tai Po project

Up to 500 buyers will be competing for each unit as the University Hill development hits the market on Saturday, with discounted prices in place and amid a surge of Chinese visitors in the city.

What Hong Kong’s cheap land sales mean to buyers, renters, government coffers

Developers – not renters, buyers or the government – are likely to benefit from sales such as one in Mong Kok on March 1 that fetched 35 per cent less than a pessimistic estimate.

SHKP offers discounts, deferred payments to bolster housing sales

The option of paying in instalments appears attractive, but the buyer ends up paying more in interest costs, analysts said.

Buyers snap up Grand Jete flats in Hong Kong to pre-empt rate increases

Hong Kong’s biggest mortgage lenders kept their prime rates unchanged immediately after the monetary authority’s June 16 move, giving homebuyers the opening to get ahead of higher borrowing costs.

Hong Kong developers lower prices to generate sales amid interest rate hikes, high supply

Sun Hung Kai Properties on Sunday set the starting price for a 217 sq ft flat at its Silicon Hill project at HK$3.85 million 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 on June 3.

Hong Kong home buyers pile in after banks deferred mortgage hikes

HSBC, Standard Chartered, Bank of China (Hong Kong) and Hang Seng Bank kept their prime rates unchanged this week, even after the city’s de facto central bank raised its base rate by 75 basis points.

Sun Hung Kai’s Silicon Hill sells out for the second weekend

The sell-out launch marked the second bumper weekend for SHKP, which sold all 170 flats last weekend, a successful campaign that gave the developer the confidence to raise the average price by 0.9 per cent.

Hong Kong proptech start-up Butler expands beyond concierge services

The company, which started out offering domestic services, now aims to revolutionise antiquated property-management practices in Hong Kong and Singapore for big-name developers.

Tuen Mun site bids rejected as premiums come below reserve price

The Hong Kong government rejected all five bids received for a 1.3 million square feet residential site in Tuen Mun, as all tenders came in below the reserve price.

Hong Kong analysts slash forecasts in home prices as Covid-19 bites

Property developers, who usually conduct their sales campaigns on weekends, have deferred the launch of new projects until the second quarter, when the current Covid-19 outbreak is expected to recede.

Explainer | After Henderson Land record, 5 other most expensive land sales in Hong Kong

Hong Kong – one of the most-expensive real estate markets in the world – has consistently set record land sale prices in recent years.

Hong Kong developers join rush for small flats as home prices soar

Developers are likely to take advantage of rising prices in the city to launch small flats as affordability becomes a concern, analyst says.

Wheelock touts land sharing scheme proposal a ‘win-win’ solution for all

Private flats to be built under the Land Sharing Pilot Scheme will not necessarily cost more and is a ‘win-win’ solution for all stakeholders, managing director Ricky Wong says.

‘Normal flow’ of people from mainland China to rescue retail, hotels: SHKP

The progress of vaccinations 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 on Thursday.

Who is to blame for Hong Kong’s housing woes: developers or the government?

In a city facing a housing crisis where demand hugely outstrips supply, thousands of completed flats remain unsold in Tai Po.

Hong Kong developer Wing Tai bets on affordable luxury for upcoming project

Wing Tai will expand its affordable luxury concept at its upcoming project in Kwu Tung, New Territories, where it set a land price record.

Hong Kong’s weekend sales receive tepid response on leftover flats

The tepid response to the leftover flats marked a momentary breather in Hong Kong’s galloping residential property market, fuelled by low-interest mortgages amid signs of a recovering economy.

Price gap narrows between homes in New Territories and Kowloon

The price gap between Kowloon and New Territories has narrowed from HK$4,000 per square foot in 2010, to about HK$1,700 per square foot according to recent sales launches, agents said.

Hong Kong developers pile into mega land sale in nod to city’s outlook

The sale of the land is also a crucial test of the so-called two envelope approach, which awards the winning bid on the merit of designs, planning and their congruence with the surrounding, in addition to beating the minimum reserve price.

Buyers pile into Hong Kong’s biggest weekend home sales in seven months

Increased investor interest was seen in Saturday’s sales of three newly released projects in Hong Kong.

Developers go pet-friendly in designs amid shift in work-from-home policy

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.

Developers unveil multigeneration housing concept for greying society

Hong Kong has a rapidly greying population, with the number of residents older than 65 years projected to increase to 2.59 million by 2066, or 37 per cent of the city’s population, according to local authorities.

Hong Kong developers’ profits plunge as travel curbs hit hotels, malls

Sun Hung Kai Properties, Hysan Development and Sino Land see profits at their hotel and shopping centre businesses tumble as travel restrictions keep visitors away.

Bids for US$970 million plot on Peak hint at optimism, analysts say

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.