Wheelock Spent HK$6.388b For Kwun Tong Site Wheelock Properties has won the first residential site in Kwun Tong offered for sale by the government since the introduction of a new stamp duty, paying a higher-than-expected HK$6.388 billion. The site is close to large housing estates such as Laguna City and Sceneway Garden. The cost per square foot is HK$7,729, over 40% […]

Central Office Rents Rank First in the World Hong Kong’s office rents in Central surged to the world’s highest this year. Hong Kong ranks No 1 in terms of the world’s highest rent for a premium office, with London and New York in second and third place respectively, according to JLL’s latest Global Premium Office Rent Tracker. The price of […]

New World Acquired Commercial Site in Cheung Sha Wan for HK$4.03 billion New World Development (0017) acquired a commercial site in Cheung Sha Wan for HK$4.03 billion after acquiring two other sites earlier in Kowloon, beating other major developers which also tendered for the property. Its acquisition price represents HK$7,478 per square foot based on a buildable area of 593,000 […]