Commercial Property
Revival yet to come for Hong Kong’s real estate market
Revival yet to come for Hong Kong’s real estate market
Only the retail market has demonstrated resilience, with high-street shop rents rising by 2.1% QoQ.
ifc mall attains certification from the US Green Building Council
The establishment is the first mall to receive such recognition in Hong Kong.
Grade A office leasing volume grew 32% in Q3
It was at par with Q1 2023.
Evergrande seeks to resume trading on HKEX
Trading of Evergrande's shares has been suspended since 28 September.
ONE SOHO Commercial Accommodation for sale for $400m
The sale is via public tender.
Evergrande halts trading after chairman falls under investigation
Hui Ka Yan is under investigation over suspected “illegal crimes.”
Nan Fung Group's AIRSIDE mall in Kai Tak opens
The new shopping mall spans 700,000 sq. ft.
CBRE secures lease for 17,000 sq. ft. with Edrington
CBRE said it strategically capitalised on the market conditions.
Retail investment momentum picks up in August
The improvement was most noticeable in Causeway Bay where a building was sold for $300m.
Rate of office vacancy stables in August after four-month high
Rents will remain under pressure amidst low demand and high supply.
Evergrande Group postpones offshore debt restructuring
As a result, it also called off the meeting linked to the proposed restructuring.
Kai Chiu Road, Haiphong Road emerge as retailers most favoured shopping streets
Retail rents in Haiphong Road are now only 40% lower than pre-pandemic levels.
Five industrial buildings on sale for $1.4b: CBRE
Properties are planned to be developed into elderly homes.
Properties in Quarry Bay sold via public auction
The properties are located on Pan Hoi Street and King’s Road.
HK investors favour retail properties
There were more larger sum of transactions generated in August 2023.
Property market slump boosts occupiers’ and home buyers’ bargaining power
Real estate agents said tenants ask for up to 30% discount when renewing office leases.
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Commentary
Driving non-Grade A office market with the Hostels in the City Scheme