Hong Kong developer Wang On Properties has taken over an aging residential building in Southern District’s Ap Lei Chau for about HK$106 million ($13.6 million), with plans to redevelop the property and surrounding buildings into what could become a more… Read More>>
Angelo Gordon, Wang On Buying Kowloon Hotel From New World for $260M
Wang On Properties has announced its first hospitality investment, teaming with US private equity shop Angelo Gordon to purchase the Pentahotel Hong Kong from New World Development for HK$2 billion ($260 million).
The 695-room hotel in Kowloon contains 285,000 square… Read More>>
APG-Wang On JV Buying Out CIFI Stake in Hong Kong Project for $170M
Financial pressure on mainland developers is creating opportunities for investors in Hong Kong’s residential sector, with Shanghai-based CIFI Holdings agreeing to sell its 60 percent stake in a Fortress Hill project with Wang On Properties to a joint venture of… Read More>>
Wang On Selling Ap Lei Chau Property to JV With APG for $70M
Hong Kong developer Wang On Properties will sell a building at 128-130 Main Street on Ap Lei Chau island to its joint venture with Dutch fund manager APG for HK$554.8 million ($70.6 million), with the partners planning to redevelop the… Read More>>
Wang On Acquires $33M Kowloon Site for APG Residential JV
Wang On Properties is continuing to bet on the Hong Kong housing market, having last month acquired the Cheng Fung Mansion in Kowloon in an auction which valued the ageing building at HK$257 million ($32.9 million), according to a press… Read More>>
Wang On Reportedly Acquires Yau Tong Industrial Building for $74M
Wang On Properties looks set to add another suburban residential project to its pipeline as the Hong Kong-listed developer has been identified as the buyer behind the recent HK$580 million ($74.5 million) purchase of a more than 80 percent piece… Read More>>
APG in $590M Hong Kong Residential JV with Wang On
Wang On Properties is betting on rising demand in the Hong Kong residential market, as the Hong Kong-listed developer, together with its parent firm Wang On Group announced a joint venture with a fund managed by the Netherlands’ APG Asset… Read More>>
Wang On Sells Admiralty Asset for $66M as HK Office Sales Pick Up
Wang On Properties has agreed to sell an entire floor at the United Centre for a consideration of HK$515 million ($66.1 million) or HK$29,022 per square foot, following the uptick in Hong Kong’s office market in August, with rents in… Read More>>
Wang On Acquires Kowloon Site for $180M Residential Project
Wang On Properties has announced its purchase of a site in Kowloon for a HK$1.3 billion ($180 million) residential project, following the successful launch of a boutique residential project in the New Territories last month.
Adding to its land supply… Read More>>
Gemdale Gets $113M Loan for Seattle Project and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Chinese developer Gemdale’s US division secures a construction loan for a Seattle high-rise, Singapore’s CapitaLand spots opportunity as China tightens credit standards, and returning mainland students give a boost to Hong Kong’s mass-housing… Read More>>