Cheryl Arcibal

5 days ago | scmp.com | Cheryl Arcibal

Hong Kong is becoming a magnet for hotel investments after some investors snapped up assets on the cheap this year, banking on a recovery in tourism and shrinking room supply to brighten the industry outlook, according to property consultants. Investments in the sector could reach about HK$5 billion (US$637 million), an almost 50 per cent increase from 2024 after solid activity in the first quarter, according to Colliers. JLL forecasts hotel transactions to hit US$800 million.

1 week ago | scmp.com | Cheryl Arcibal

Hong Kong’s residential property segment is on the verge of a turnaround that could last between four and five years, with home prices likely to rise starting in the second half of the year, according to Morgan Stanley. The US investment bank said the first half of the year would end with prices down 2 per cent from a year earlier, while prices in the second half would rise 2 per cent year on year.

1 week ago | scmp.com | Cheryl Arcibal

Hong Kong’s tough retail environment has claimed another victim, with a Michelin-designated restaurant announcing its closure after a decade of serving nasi lemak, bak kut teh and chilli pan mee in North Point. Ancient Moon, which serves Singaporean and Malaysian food on Kam Ping Street in the eastern part of Hong Kong Island, said its last day of operation would be on July 19, according to its Instagram post.

2 weeks ago | scmp.com | Cheryl Arcibal

Henderson Land Development, one of Hong Kong’s largest developers, has leased a 223,437 sq ft space in its prized mixed-use project in Central to Jane Street Asia in one of the largest leasing transactions in the city’s main business district in decades. The rent for the space, across six floors in New Central Harbourfront, will be HK$137 (US$17.45) per square foot per month, or HK$30.6 million per month, excluding fees.

2 weeks ago | scmp.com | Cheryl Arcibal

The liquidity crunch at New World Development (NWD), one of Hong Kong’s biggest developers, is a blemish on the resurgent housing market, threatening to shake confidence among homebuyers and trigger a “downside scenario” in home prices, according to S&P Global Ratings. The developer deferred coupon payments on four series of perpetual bonds after months of speculation about its finances, sending a poor signal to creditors about its default risk.