TOPIC

Retail properties

One HarbourGate East Tower in Hung Hom, Kowloon is among assets seized by creditors from Chinese tycoon Chen Hongtian. Photo: Handout
Hong Kong property

Hong Kong university pays US$334 million for Chen Hongtian’s seized office tower

Hong Kong Metropolitan University makes its second purchase in six months in this year’s biggest commercial deal.

Hong Kong property

Art houses Christie’s, Sotheby’s show off flashy new Hong Kong showrooms

Hong Kong property

Tsim Sha Tsui named world’s fourth most expensive shopping district

Hong Kong property

China, Singapore key to Hongkong Land’s US$10 billion asset disposal goal

Analysts approve the developer’s ‘strategic pivot’, but caution that execution remains key to its success.

Hongkong Land, which is controlled by conglomerate Jardine Matheson, manages US$32 billion of investment properties. Photo: Shutterstock
Hong Kong property

Hong Kong home sales surge to 5-month high amid easier mortgage rules

A total of 4,697 new and lived-in homes changed hands in October, reversing a two-month decline.

Hong Kong property

As Hong Kong and Singapore age, health businesses loom larger in property market

As the average age in Hong Kong and Singapore rises, landlords and developers need to become more in tune with the medical industry.

Advertisement
Advertisement
Hong Kong property

Hongkong Land seeks US$10 billion from asset reshuffle, eyes high-end market

Strategic pivot aims to ‘ultimately’ double its profit before interest and tax and grow its assets under management to US$100 billion by 2035.

“This is not a pivot because of financial reasons,” CEO Smith says. “This is a business strategic pivot”. Photo: Xiaomei Chen
Hong Kong property

Hong Kong’s office market to trail recovery in residential, retail properties

Reports of brisk weekend home sales show the housing market will outpace offices in recovery going into 2025, consultancies say.

videocam
Hong Kong economy

Editorial | Retail woes call for new ways to keep Hong Kong’s customers satisfied

As another two chains pull out of Hong Kong and others reduce outlets, stores not afraid of change deserve support.

Hong Kong property

Hong Kong developers to feel earnings pain amid high vacancy rates: Moody’s

Moody’s says office and retail property segments are likely to remain under pressure.

videocam
Hong Kong’s office and retail property segments are likely to remain under pressure, according to Moody’s. Photo: Jelly Tse
Hong Kong property

From Fila to Armani, brands snap up prime Hong Kong retail spaces

With rents as much as 65 per cent below historical highs, brands from Europe, the US and Japan see a chance to make a splash.

Hopewell Mall in Wan Chai, set for a soft opening next month, and will have an occupancy rate of more than 90 per cent. Photo: Handout
Hong Kong economy

Hong Kong supermarket Uselect winds down operations amid relentless retail slump

A few outlets display signs announcing closure by end of October, while Post finds residents who pick smaller shops in effort to support local.

14
Hong Kong property

Sentiment in Hong Kong commercial property market up on lower rates, stock rally

In the third quarter, commercial real estate investment volume rose 22.6 per cent quarter on quarter to US$1.28 billion, CBRE said.

Hong Kong property

Mainland Chinese retailers snag prime spots in Hong Kong at discounted rents

The slumping retail market is forcing landlords to extend deeper discounts, providing opportunities for brands to expand in the city.

The Balabala shop in Harbour City in Tsim Sha Tsui. Photo: Cheryl Arcibal
Hong Kong property

Hong Kong’s depressed commercial property market burns tycoons, investors

Hong Kong’s commercial property market has buckled under the crushing weight of China’s economic malaise, an exodus of global firms, a supply glut and high interest rates.

16
Illustration by Henry Wong
Hong Kong property

Omega leases another Hong Kong shop amid retail leasing pickup

Swiss luxury watchmaker Omega is leasing another shop on Russell Street, once the world’s priciest retail strip, for US$51,404 a month.

Hong Kong property

Bakehouse grows as its egg tarts offer salve in Hong Kong’s retail gloom

The Wan Chai-based bakery will spend about US$4 million to double its branches to 10 by the end of 2025.

videocam
4
Advertisement
Advertisement
Hong Kong courts

Hong Kong’s Housing Authority sued over wet market’s unsanitary conditions

Statutory body accused of turning blind eye to water leakage, sewage pipe blockage and foul odour at market at Kwai Chung Shopping Centre.

The wet market at the Kwai Chung Shopping Centre has been plagued by defects, according to a court document. Photo:
Hong Kong property

Chinachem’s Nina Hospitality aims to move up market, eyes overseas expansion

Nina’s managing director said it is looking at expanding on the mainland and overseas, while becoming an upscale hotel group in Hong Kong.

Hong Kong economy

Call to cut rent for Hong Kong shops by third amid sluggish sales

Industry leader Annie Tse calls for a 30 per cent reduction in rents, saying downward trend will continue to year end or even early 2025.

16
Hong Kong property

Spanish retailer snags prime Hong Kong shop at 50% discount amid retail slump

The monthly rent for the 14,000 sq ft space at Asia Standard Tower in Queen’s Road Central is HK$1.25 million (US$160,220), 55 per cent lower than the all-time high in 2012.

9
Spanish retailer Mango will occupy two levels at Asia Standard Tower in Queen’s Road Central from September. Photo: Jonathan Wong
Hong Kong economy

Hong Kong home store chain Pricerite and Tom Lee Music shut branches

Pricerite, a major furniture and electrical appliances store, shuts two branches; Tom Lee Music also closes two shops.

4
A customer looks at signs on the now-closed Tom Lee Music store in Kennedy Town. Photo: Dickson Lee
Hong Kong property

Chinese craft beer maker taps into Hong Kong’s frothy market

Hong Kong’s retail market, which is undergoing a shake-up, has seen an influx of mainland Chinese brands taking advantage of the declining rents.

videocam
China's economic recovery

Mindful China shoppers embrace members-only retailers like Walmart’s Sam’s Club

Some bulk retailers on the mainland have carved out niche roles among shoppers, including bargain hunters from across the border in Hong Kong.

videocam
International Property

Manila’s gaming ban has property developers eyeing new growth

SM Prime is relying on fundamentals and remittances to drive growth as Manila prepares to kick out Chinese workers in the online gambling industry.

SM Mall of Asia in Pasay City, Philippines, is one of the largest shopping centres in the world. Photo: Handout
Hong Kong economy

Hong Kong Exco convenor Regina Ip appeals for retail rent cuts to help businesses

Regina Ip says she and New People’s Party colleagues found 104 vacant stores and stalls in two shopping centres and market in Southern district

The newly renovated Aberdeen Market in Southern district has been struggling to attract business. Photo: Edmond So
China property

The richest Filipino family business sees China as the ‘growth driver’

The mainland is still teeming with opportunities in the commercial property market, despite its recent economic struggles, says Franklin Gomez of SM Investments.

videocam
Hong Kong property

Heytea snaps up Mong Kok space as mainland brands step up Hong Kong expansion

New leases by mainland-based brands more than doubled in the first seven months of the year, according to JLL.

Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Retail properties
Hong Kong ranks as the world's most expensive high-street retail destination with average rent of US$4,327 per sq ft per annum, surpassing New York, Paris, London and Tokyo by a substantial margin, according to the latest research from CBRE.
last updated:
9 September, 2024
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement