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COMMERCIAL PROPERTY | Staff Reporter, Hong Kong
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Mega industrial transactions hit $8.02b in Q4

Investors are pitching in as the government eyes an industrial revitalisation scheme.

As the government mulls the implementation of the industrial revitalisation scheme following Chief Executive Carrie Lam’s policy address, investor sentiment is picking up as high-value (over $30m) industrial transactions rose 32% QoQ to $8.02b in Q4, according to Colliers International quarterly industrial report. 

Overall figures were buoyed by a massive volume in strata title investment which surged 86% QoQ.

A notable industrial transaction was the $218.5m purchase of the 13th floor of Zung Fun Industrial Buildings in Quarry Bay by Lead Harvest Group.

Total consideration of high-value en-bloc investment or transactions over $30m also rose 11% QoQ. Notable transactions include the $1.04b sale of the whole block of Maxwell Industrial Buildings in Kwun Tong to Laws Group.

Billion Development also bought Winning Godown Building in Tsuen Wan for $2.16b.

“With limited supply of industrial buildings, we expect the potential Revitalisation Scheme 2.0 to continue to encourage investors to acquire industrial buildings,” Colliers notes, adding that a growing number of investors are also looking to convert to smaller workstations for SMEs and start-up companies.

Photo from Axisadman - Own work, CC BY-SA 3.0

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