This is the weekly news wrap, featuring the latest real estate stories from Hong Kong. Whether your interest lies in industrial, retail, office real estate or asset investments, we have got the news that matters, covered.

Swire Properties to Sell Two Hong Kong Office Towers for Nearly $2 Billion
Reuters
Swire Properties plans to sell two office towers in Hong Kong for HK$15 billion (US$1.9 billion) to Henglilong Investments Ltd, the latest deal in one of the world’s most expensive commercial property markets. Swire Properties entered into an agreement to sell its entire 100% stakes in Cityplaza Three and Cityplaza Four, located on Hong Kong’s main island.

UBS London Headquarters Sold for £1bn
Financial Times
UBS's London headquarters has been sold to the property company founded by the Hong Kong tycoon Li Ka-shing in the capital's latest £1bn office real estate deal. British Land, the UK property company, and GIC, the Singaporean sovereign wealth fund, said they had sold 5 Broadgate to a subsidiary of CK Asset Holdings for £1bn. The deal amounts to a yield of 3.95 per cent, said a person close to the transaction. The sellers were advised by property agents CBRE.

Hong Kong’s Fixer-Upper Tycoon Pushes Limit of Property Investing
Financial Times
In contrast to many of its Asian peers, Hong Kong-based Gaw Capital has the firepower to launch large deals, putting it into the same bracket as Blackstone and Starwood Capital. One such transaction was the $2.9bn purchase last year of residential and commercial properties from Link, Hong Kong’s largest real estate investment trust. It made its name by taking risks on dilapidated warehouses in Los Angeles. The group also bought hotels in Italy and backed technology ventures that stretch the definition of property investment.

Relentless Property Price Rally Is Driving Hongkongers to Try Their Luck in Phnom Penh, Seoul Markets
South China Morning Post
Finding no relief from the seemingly never-ending property price increases at home, Hongkongers are looking further afield for opportunities in new markets like Cambodia and South Korea. But the search for the perfect overseas investment is not without its risks, say analysts, who advise potential buyers to study local government policies and tax systems that could affect their investments.

China’s Cash-Rich Property Developers Go Rural for Opportunities and Political Currency
South China Morning Post
Country Garden, Vanke and Evergrande have announced expansion plans in the countryside of China, singing to Chinese President Xi Jinping’s tune of investing in the country’s vast countryside and agriculture sector.

Co-Working Space Operator Soho China Targets Hong Kong IPO Next Year as It Expands in The Mainland
South China Morning Post
Soho China, one of the country’s largest commercial property companies, aims to list its co-working space business in Hong Kong next year, according to its chairman Pan Shiyi. Soho 3Q, Soho’s co-working business arm, has expanded quickly in first and second-tier cities since its debut in 2015. The number of seats has grown from 26,000 in 2017 to more than 30,000 currently, and expects to exceed its target of 50,000 by the end of this year.

 

CBRE in the News


Stanley Dragon Boat Racers Trade Pints for Paddles While Soaking up Electric Atmosphere and Surreal Silence
South China Morning Post
Features Candy Fung, Manager, Advisory and Transaction Services – Office, Hong Kong