TANG SHING-BOR Buys TSIM SHA TSUI Hotel FOR HK$330M And more HONG KONG Real estate property HEADLINES

Tang Shing-bor
Store King Tang Shing-bor acquired a setting up in Tsim Sha Tsui for HK$330 million

primary today’s Hong Kong real estate information, Shop King Tang Shing-bor snapped up a industrial constructing leased to your hotel in Tsim Sha Tsui for HK$330 million ($42 million). Also during the headlines, the city’s
business rents are poised to achieve a different higher because they are nearing the levels just before the 2008 economic disaster. In the meantime inside the household current market, you'll find nine,000 unsold first-hand units as at the conclusion of
March, according to the city’s housing main. Every one of these stories and even more await you, for those who just continue reading.

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Tang Shing-bor Buys Tsim Sha Tsui Business Creating For HK$330M
Tang Shing-bor has acquired a industrial developing at 80 Kimberly Road, Tsim Sha Tsui for HK$330 million or HK$16,000 for every sq. foot. The 19,923 sq. foot (one,851 sq. metre) home was initially
bought via the vendor for HK$98 million in 2006.

The 14-storey building properties a bar on its floor floor with the remainder on the structure serving to be a resort. The asset generates a blended monthly cash flow of all-around HK$520,000 plus a rental generate of two
p.c. Browse more>>

Business office Rents Established to pass Amounts In advance of ’08 Monetary Disaster
Business rents in Central, the costliest place to hire place of work place on earth, is closing in on stages attained prior to the 2008 monetary crisis, with marketplace watchers believing a fresh significant might be
attained shortly, pushed by a paucity of source and rapid influx of Chinese businesses.

“We’ve viewed landlords requesting HK$200 for each square ft,” mentioned Ben Dickinson, head of company leasing at JLL Hong Kong, incorporating which the final time such a demand was found was in 2008. Browse more>>

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Housing Chief Said nine,000 New Residences Unsold as of March-End
There were nine,000 unsold first-hand private residential flats in concluded assignments as of March 31, the Housing and Transport Secretary Frank Chan Lover reported currently. He spelled out to lawmakers that these unsold
units might be vacant, or models occupied via the developers for self-use, and even those rented out by builders (this kind of as serviced residences).

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