Distressed mainland conglomerate HNA Group has reportedly taken a big loss on properties it owned in Hong Kong’s Causeway Bay district, selling them off this past week for HK$70 million less than what it paid for them just last year.
HK Office Rents to Rise 5% or Less in 2019 as Tenants Cool Expansion Plans
Hong Kong office rents are expected to increase by no more than five percent in 2019, despite record-low vacancies in prime commercial districts, as occupier demand slows after years of competition for space in the regional finance hub, according to… Read More>>
Nike Gets 25% Rent Cut to Take Over Former Esprit Flagship in Causeway Bay
Athletic apparel brand Nike has stepped in where Hong Kong’s own Esprit faltered, leasing a 7,000 square foot (650 square metre) shop in Causeway Bay’s Leighton Centre for a reported monthly rent of HK$1.5 million.
The swoosh logo will soon… Read More>>
Esprit Bails on HK$2M Per Month Causeway Bay Flagship Store
Hong Kong-listed fashion brand Esprit Holdings will not renew the lease for its flagship store in Causeway Bay, according to local media reports.
The lease for the 7,000 square foot (650 square metre) store in Leighton Centre at 77 Leighton… Read More>>
URA to Reveal Winning Bid Amounts and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, the city’s urban redevelopment agency has announced a new policy to inform the public of the amounts of successful bids in a move to improve transparency. Also in the headlines, Hong Kong-listed developer… Read More>>
Shun Tak Centre Unit Sells for HK$83M and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, the city’s floor flippers continue to look for profit from office assets as a 2,508 square foot unit in Shun Tak Centre has reportedly been sold for HK$82.8 million. Also in the headlines,… Read More>>
New Home Prices Soar 18% in Q1 and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, last quarter offered no relief to the city’s home buyers as new flat prices surged to the second-highest level since a local agency began keeping records in 1996. Also in the headlines, a… Read More>>
Causeway Bay Landlord May Evict La Perla After Lingerie Shop Skimps on $1.2M in Rent
Italian lingerie brand La Perla is poised to lose its flagship store in Hong Kong’s prime Causeway Bay shopping district, after allegedly defaulting on HK$9.21 million ($1.18 million) in rent.
After the high-end bra brand threw a star-studded party to… Read More>>
Hong Kong Disneyland Losses Double to $44M and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, Mickey Mouse may start singing the blues after his Hong Kong playground recorded a loss of $44 million last year. Also in the headlines, an Italian lingerie brand faces a DD-sized debt default… Read More>>
Commercial Plaza Deal Sets Wan Chai Price Record and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, an office unit just sold in Wan Chai for a record-breaking price, while a top jewelry retailer saw its rent in Causeway Bay slashed 40 percent. Also in the headlines, Hang Lung Properties’… Read More>>