For some firms, Hong Kong’s unrest has brought an uptick in business
- The city’s businesses are struggling amid increasingly violent street protests – but a handful, both local and foreign, are seeing opportunities
- They are catering to the increased demand from Hongkongers for overseas property and migration services
The firm has budgeted a six-figure sum to promote its planned “Hong Kong investors’ seminar” in the coming year, Choo says, which “shows the potential for capital flight out of Hong Kong”.
Nick Siew, an associate director at Hartamas Real Estate, a subsidiary of Malaysian property services provider Hartamas Group, says he has seen a surge in foreign sellers organising seminars in Hong Kong.
They book rooms every weekend at hotels such as the Park Lane and Sheraton. Firms offering units at Malaysian developments in Kuala Lumpur such as Star Residences, Pavilion Damansara Heights and Bukit Bintang City Centre have sold between two and five flats per event, he says.
“In the last three months, the number of property seminars in Hong Kong has doubled from the previous year,” Siew says, adding that this translates to between eight and 10 property events every weekend.
