Insights
Tag: Cheung Kong
Billion Group wins Pak Shek Kok site for HK$2.54 billion
Billion Group outbid 14 developers including Cheung Kong Holdings (0001) and Sino Land (0083) to win the last Pak Shek Kok seaview residential site for HK$2.54 billion. The offer is higher than forecasted market estimates.A tender for the site, which is located in the Tai Po area, failed in March this year despite seven bids havi
Li Ka-shing urges protesters to go home
Li Ka-shing, Asia's richest man and chairman of property developer Cheung Kong (0001) yesterday released a public statement commenting on Occupy Central for the first time. Li called on young people to abandon their Occupy Central campaign and go back to their families.Li expressed that he does not want to see a stand still in Ho
Tai Wai Station Project receives record bids for MTR Corp
After a failed tender two years ago, MTR Corporation (0066) re-launched its mega project atop Tai Wai station for tender again this month and received 23 bidding documents from developers prior to yesterday's closing. This marks the highest number of bids ever recorded for an MTR Corporation tender project.The 23 developers who
Tai Wai Station Project set to be retendered
The MTR Corporation (0066) yesterday announced its intention to retender the mega Tai Wai Station Project. Market expectations forecast that the land premium will be slashed by 30% to around HKD8.11 billion (below HKD3,000 /sq.ft (gross floor area)).Many developers including Cheung Kong Holdings (0001) and Sun Hung Kai Properti
Billion Development wins Tsuen Wan site for HK$3.94 billion
Billion Development outbid property giants including Cheung Kong Holdings (0001) and Henderson Land (0012) and won the commercial-cum-residential site with a gross floor area of 1.07 million square feet in Yeung Uk Road, Tsuen Wan, for HK$3.94 billion. The price obtained was lower than market estimates.In addition, Wang On Group (
Bloomberg Interview on Micro-Apartments in Hong Kong
I was honored to be invited by esteemed Bloomberg journalist Angie Lau to discuss the recent “trend” of micro-apartments in Hong Kong that have received significant press attention. Cheung Kong has recently launched the sales of Mont Vert, a new development of micro-sized apartments, which includes studios ranging from 177-196 sqf
Li Ka-shing sees sustained low interest rate environment
Cheung Kong Holdings (0001) announced its interim report this week which saw its net profit soar 59 percent in the first six months of the year to HK$21.35 billion from a year ago, beating market expectations.Cheung Kong Group Chairman Li Ka-shing said in the report that buyer sentiment had recently improved, and construction costs
Cheung Kong sales revenue crosses HK$20 billion aided by Mont Vert launch
433 units at Cheung Kong's “Mont Vert (Phase 1)” development in Tai Po were quickly sold during the first two days of its launch, cashing in over HK$2.6 billion. Adding to other developments sold earlier this year, Cheung Kong has already received over HK$17.6 billion in year-to-date residential sales. This compares very favourably
Authority criticizes Cheung Kong for not letting buyers view show flats
Cheung Kong yesterday released the price list of the first batch units of Mont Vert Phase 1 in Tai Po. The Sales of First-hand Residential Properties Authority found that the developer specified in the document of sale arrangements for its 260 first batch units that all of the registrants who will have submitted the Registration of
Kwun Tong redevelopment project receives four tenders, total investment may exceed HK$16 billion
Local newspapers reported that the mega Kwun Tong redevelopment project, Kung Tong Town Centre Project (Development Areas 2 & 3), received a fewer-than-expected four tenders. These included offers from Sun Hung Kai (0016), Wheelock (0020) and Henderson Land Development, and one unknown party. Surveyors are worried that the project c
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