Vanke JV Buys Hong Kong Site for HK$3.7B and More Asia Real Estate Headlines – Mingtiandi

China vanke

China Vanke is adding to its Hong Kong portfolio

Mainland investors continue to expand their presence in Hong Kong this week as China Vanke teamed up with a Qingdao-based builder to snatch up a residential plot in the New Territories.

Altus Group Set D - July eBook 1

Also in the news, Morgan Stanley says the Asia Pacific commercial property market may be close to bottoming out, while bankers in Hong Kong fret over a 30 percent drop in asset values in the city.

Vanke, Qingjian Buy Tai Po Residential Site for HK$3.7B

Mainland developer Vanke Property (Hong Kong) and CNQC International (1240) won a residential site at Ma Wo Road in Tai Po for HK$3.7 billion ($477 million), or HK$4,739 per buildable sq ft, in line with market estimates.

Market surveyors valued the site at HK$2.74 billion to HK$4.57 billion. This indicates that developers are positive about the outlook for the local home market, said Centaline Surveyors executive director James Cheung King-tat. Read more>>

Morgan Stanley Study Says APAC Office Demand Near Bottom

Hong Kong’s office landlords may have reached peak suffering from the rental slump, according to US investment bank Morgan Stanley. The work-from-home
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Global Real Estate

Author: Global Real Estate