HK - Commercial Properties & REITs

HK - Housing 04 (Apr 16 - Dec 17)

Postby behappyalways » Thu Nov 02, 2017 9:18 pm

Billionaire Pares Real Estate Holdings With Sale of Hong Kong Skyscraper
https://www.caixinglobal.com/2017-11-02/101164723.html
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Jan 10, 2018 8:27 am

Owners of Hong Kong hotels see greater value in converting them into office complexes

Hotel buyers secure government approvals for redevelopment plans in case the hospitality industry’s fortunes decline

The 317-room Grand View Hotel, formerly known as Newton Inn, in North Point, and the 300-room Rosedale Hotel in Causeway Bay are two such properties that could see their new owners turning them into office towers.


Source: SCMP

http://www.scmp.com/property/hong-kong- ... rting-them
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Hongkong Land

Postby winston » Thu Jul 12, 2018 8:02 am

Grade A office rents on the rise

by Annie Qiu

The average rents of grade A offices across all districts in Hong Kong are set to increase by 6 to 8 percent this year, according to Cushman & Wakefield.

It said that Greater Central rents hit a record high of HK$137 per square foot per month in the second quarter of the year.

Rents in Greater Central and Prime Central will record the highest increase among all submarkets and are expected to rise 8 to 10 percent, while Kowloon East rents will rise by 4 to 6 percent for the year.

Sky-high rents of Greater Central will continue to drive companies to non-core areas such as Hong Kong East and the decentralization trend is expected to continue over the next few quarters, Cushman & Wakefield managing director John Siu said.

Meanwhile, mainland operators absorbed 87 percent of all grade A office space leased by co-working players (254,000 sq ft) in the first half of 2018.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0712&sid=2
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Re: HK - Commercial Properties & REITs

Postby winston » Tue Jul 17, 2018 5:42 am

2H Retail Growth Of 10% YOY

Hong Kong's retailers have forecast their turnover in the second half to grow by 10 percent year on year, JLL found in a recent survey.

About 83 percent of the international and local retailers are planning to open new shops in the city over the next 12 months, a significant jump from 62 percent as recorded a year ago.

JLL surveyed 40 retailers and retail landlords in June and found that more than 90 percent of the respondents stated their retail sales in the first half of 2018 fared better than those in the previous year.

Retailers from almost all sectors are seeing strong and sustained growth in their sales which will lead to them investing more into the market, while the luxury sector is currently the biggest winner, led predominantly by the mainland tourists, said James Assersohn, director of Asia Pacific Retail at JLL.

"However, we also see locals increase spending which provides a deeper and more sustainable growth trajectory for retail businesses here," James added.

Meanwhile, it is worth noting that changing consumption patterns and shopper profiles fueled by millennials and generation Z have also led to greater demand for mass and mid-market brands, serving as a significant boost to local spending, said the survey.

It is expected that the rents of high street shops and prime shopping centers to grow in the range of 0 to 5 percent for the full year, said Terence Chan, Head of Retail at JLL in Hong Kong.

For the local industrial and commercial property market, property agency Midland IC&I (0459) forecast 10,000 transactions will be recorded in 2018, rising by 8 to 10 percent year-on-year, which will set a new record high.

The turnover for the year is expected to decline 0 to 5 percent mainly due to uncertainties including the trade war between China and the United States and fluctuations the local stock market.

Midland IC&I forecasts that industrial and commercial properties will record a turnover of HK$130 billion and HK$160 billion respectively for the second half and the full year.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Sun Jul 22, 2018 8:21 am

Why Hong Kong has the world's most expensive office space

"Strong demand coupled with low vacancy in the CBD (central business district) has kept the office market robust and prices have reacted".

Office space in Hong Kong's Central now costs $306 per square foot per year, on average. That's 30 percent higher than the second highest area, London's West End, which came in at only $235 per square foot.


Source: HITC

http://www.hitc.com/en-gb/2018/07/21/wh ... ice-space/
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Re: HK - Commercial Properties & REITs

Postby winston » Thu Jul 26, 2018 7:56 am

US-China trade war could hurt demand for commercial and industrial property in Hong Kong, says agency

Ricacorp (CIR) Properties expects deals for industrial and office properties to slump by 13 per cent and 15 per cent in second half of 2018

Source: SCMP

https://www.scmp.com/property/hong-kong ... ercial-and
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Re: HK - Commercial Properties & REITs

Postby winston » Sun Aug 12, 2018 7:44 am

Multinationals shift out of Central Hong Kong to attract talent, and embrace in-office entertainment trend

Soaring office costs are forcing more businesses to eliminate desks and turn their premises into what one leading global facility services firm calls ‘experience arenas’

Over the past two years a rising number of large corporations have relocated to outer areas such as eastern Quarry Bay and Kowloon Bay, and across Victoria Harbour, where rent can be almost half the price.

Officials at ISS say around 40 per cent of their Hong Kong clients have moved from leasing several offices in Central, to one all-encompassing space in locations such as Quarry Bay, East Kowloon or Tung Chung


Source: SCMP

https://www.scmp.com/business/article/2 ... nd-embrace
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Re: HK - Commercial Properties & REITs

Postby winston » Thu Sep 20, 2018 7:28 am

No hope in sight for Hong Kong’s soaring office rents, as land supply seen as too little to match demand, experts say

Prime office rents have increased by an average of about 6.5 per cent per year over the past three years, while rents in Central have grown by 9.5 per cent per year.

“As at the end of the second quarter this year, total occupancy costs for grade A office occupiers were 21 per cent and 54 per cent higher than those in Tokyo and Singapore respectively”.




Source: SCMP

https://www.scmp.com/property/hong-kong ... and-supply
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Re: HK - Commercial Properties & REITs

Postby winston » Tue Oct 02, 2018 8:07 pm

Office rents in Hong Kong’s Central, the most expensive in the world, will only go up even amid exodus, says district’s biggest landlord

Executive director for commercial property at Hongkong Land insists city’s flagship office location will remain world’s most expensive

Office space there now costs US$306 per square foot, 30 per cent higher than the second highest area, London’s West End at US$235 per square foot.


Source: SCMP

https://www.scmp.com/business/companies ... -will-only
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Nov 07, 2018 8:08 am

Office rents in Hong Kong’s Central district may drop for first time since 2013, says Colliers

Hong Kong’s Central district, the world’s priciest office address, may see rents fall 4 per cent next year, says the property agency

The tanking stock market, rising interest rates and the US-China trade war are all taking a toll on the confidence of financial firms, which make up the bulk of Central’s tenants.

It commands annual rent of US$307 per square foot, almost a third higher than the US$235 per square foot in London’s West End.

Financial tenants occupy 54 per cent of Grade A office space in Central.

Half of the new leasing deals in Central in 2017 were signed by mainland companies while so far this year they only accounted for 30 per cent.

By the end of the third quarter, Grade A offices in Central fetched HK$148.7 per square foot. Colliers expects that to inch up to HK$148.8 per square foot by the end of 2018, bringing the full-year increase to 9 per cent.


Source: SCMP

https://www.scmp.com/business/article/2 ... -2013-says
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