Commercial Property
Buildings Department approves 23 construction plans last January
The department also issued 17 occupational permits.
ESR’s PATMI rises 9% YoY to US$655m in FY22
PATMI would have surged 24% YoY if not for the weakness of APAC currencies vs USD.
Office market posts positive net absorption in February
This is the first time after three consecutive months of negative absorption.
Nos. 13-15 San On Street up for sale
The property comprises two buildings with a total gross floor area of 88,154 sq ft.
How sluggish trade activity is affecting industrial leasing
Aggregate trade dropped 33.4% YoY in January.
New co-living rental complex to attract young professionals
The 6,500 square-metre key hotel is located in the heart of Tsim Sha Tsui.
Retail leasing sentiment picks up in February
A notable transaction during the month was the ground floor of 14 Canton Road.
Grade-A office vacancy rate rises to 12.3% in February
The increase was partly due to the completion of S22 in Wong Chuk Hang.
Commercial property demand to ‘gradually strengthen’ in 2023: CBRE
In February, sales rose 23.4% MoM to 1,698 units.
4 actions HK can take to grow its I&T industry
Under the HK I&T Development Blueprint, the city plans to grow the industry by 5% in 5 years.
Wing Tai Properties braces for loss in FY22
It is expecting a loss of $50.0m.
Kum Lam Building up for sale via expression of interest
The property’s estimated worth is $230m.
Relaxation of measures unable to lift real estate investment sales: Savills
In Q4, commercial investment volumes contracted by 44.3% YoY.
Hongkong Land underlying profit fell 20% in FY 22
It declined due to lower contributions from development assets.
Property sales soar 35.1% MoM in February
Year-on-year sales increased by 49.6%.
HK is 5th top market for super and ultra-prime properties
It is one of the two markets in Asia that made the top 10.
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