4 h. ago Hong Kong developers test homebuyer sentiment as outlook brightens

Two major residential developments in Hong Kong saw tepid sales over the weekend despite a slow recovery in the city’s property market, showing that buyer sentiment has yet to fully rebound even as developers strive for higher profit margins amid a stabilisation in home prices, according to analysts. “Developers are now testing the waters” by pricing new projects at market rates, aligning with average prices in nearby developments or slightly higher, said Joseph Tsang, chairman of JLL Hong Kong....

Politics

35 h. ago Kai Tak infrastructure projects shouldn’t be developed in isolation

The Kai Tak Development Area, once home to Hong Kong’s iconic airport, is now the site of one of the city’s most ambitious urban regeneration efforts. As the government pushes forward with two major infrastructure projects in the area – a smart and green mass transit system and the enhancement of the Kai Tak Cruise Terminal – concerns are mounting that the current fragmented approach may undermine the very goals these projects aim to achieve. Both initiatives are central to Hong Kong’s long-term...

Politics

3 d. ago ‘Very valuable’ role for Hong Kong in helping UN body reach green finance goals

Hong Kong can play a role in helping the UN achieve its sustainability and humanitarian goals through green financing, the head of innovative finance at its refugee agency has said. Siddhartha Sinha also said that developing “good partnerships” would help Hong Kong as it looked to tap into Islamic financing, citing the agency’s own experience. Sinha was speaking to the Post on the sidelines of the Asian Venture Philanthropy Network (AVPN) Global Conference in Hong Kong on Wednesday. AVPN pitches...

Politics

6 d. ago Hong Kong scientists developing new blood treatment to aid diabetes Patients

A team of Hong Kong scientists is developing an injectable treatment that could potentially improve blood flow in diabetes patients’ feet, in the hopes that it will reduce the need for amputation by rebuilding tissue in the arteries. They also hope to apply the treatment to peripheral artery disease or PAD, a condition caused by the build-up of fatty deposits in arteries that affect blood circulation in the feet. Jack Wong Wing-tak, associate professor of the Chinese University of Hong Kong’s...

Events

7 d. ago Villagers slowly making way for development in Hong Kong’s Northern Metropolis

With Hong Kong leader John Lee set to deliver his annual policy address on September 17, the Post examines key topics the chief executive is expected to focus on, including a mega infrastructure project near the border, new economic drivers and livelihood issues. In the first of a seven-part series, Vivian Au finds out how villagers and businesses are surviving in an area the government has promised to transform into a new economic engine. Fish farmer Kwok Chi-yau has spent more than half a...

Politics

9 d. ago Analysts mixed on outlook for Sun Hung Kai Properties’ shares

Analysts said they had mixed views about Sun Hung Kai Properties’ (SHKP) shares after Hong Kong’s largest property developer by market capitalisation reported a slight increase in its full-year earnings. On Friday, Morningstar cut its price target for SHKP to HK$105 from HK$115, but said the company was trading at a good discount. UOB Kay Hian and Morgan Stanley said the earnings were largely in line with expectations. The US investment bank had an overweight recommendation and expected earnings...

Politics

9 d. ago Belt and Road Summit marks a decade of deals as Hong Kong eyes new chapter of collaboration

[The content of this article has been produced by our advertising partner.] Co-organised by the HKSAR Government and the Hong Kong Trade Development Council (HKTDC), the 10th Belt and Road Summit will return to the Hong Kong Convention and Exhibition Centre on September 10-11.  Bringing together over 90 speakers from 18 Belt and Road economies, this year’s two-day programme continues a ten-year run of policy dialogue, business exchange and investment matchmaking under the theme “Collaborate for...

Politics

1 week ago Hong Kong education minister open to international version of DSE exams

Hong Kong’s education minister has said she is open to developing an international version of the city’s university entrance exams, but details such as the implementation of electronic testing still need to be discussed. Secretary for Education Christine Choi Yuk-lin told the Post in an exclusive interview that the decision to internationalise the Diploma of Secondary Education (DSE) exams could depend on the availability of resources and demand. Choi said that she had adopted an open attitude...

Politics

1 week ago New World’s Cheng family weighs capital injection, sources say

New World Development’s controlling shareholder, the billionaire Cheng family, is considering injecting capital into the debt-laden Hong Kong developer as early as the end of the year, according to people familiar with the matter. The family of Hong Kong tycoon Henry Cheng was willing to contribute about HK$10 billion (US$1.3 billion) and was seeking a partner that could provide a roughly similar amount for an equity stake, said the people, who asked not to be identified discussing private...

Politics

2 w. ago Hong Kong could attract big spenders ‘with global sports events for various ages’

Hong Kong could attract more high-spending visitors by hosting international sporting games for young, middle-aged and elderly competitors, a think tank has said, calling on authorities to establish a certification system to help fund innovative and emerging events. Our Hong Kong Foundation on Thursday released a research report on developing the city into a “mega sports events capital”. The proposals included setting up a special label for emerging events that would be subject to a funding cap...

Politics

2 w. ago Sino Land profit falls due to lower rental income, falling occupancies

Hong Kong developer Sino Land on Wednesday said its net profit for the financial year that ended on June 30 fell from a year earlier as strong residential sales were offset by lower rental income and falling occupancies. After taking into account a one-time loss of HK$1.08 billion (US$138.7 million) from the revaluation of its investment properties, the developer said its net profit fell to HK$4.02 billion from HK$4.4 billion a year earlier. Net income excluding one-off gains or losses fell...

Events

2 w. ago Hong Kong researchers develop AI model that can detect fertile sperm

A team of Hong Kong researchers has developed an artificial intelligence model that can identify fertile sperm more accurately compared with traditional methods, paving the way for faster and more effective fertility treatments. Researchers from the University of Hong Kong (HKU) said on Monday that the AI model had an accuracy rate of more than 96 per cent when it came to identifying fertile sperm after being trained with over 1,000 images of male sex cells. The team further developed the model...

Politics

2 w. ago Hong Kong’s commerce chief to visit Singapore to bolster trade ties

Hong Kong’s commerce and economic development chief will visit Singapore next week in his latest global charm offensive to bolster bilateral trade ties as he described the city state as “a friend” rather than “a rival”. Secretary for Commerce and Economic Development Algernon Yau Ying-wah told the Post in an exclusive interview that he would spend two days in Singapore, meeting officials as he sought to reframe a persistent narrative of intense competition between the two Asian financial hubs as...

Politics

3 w. ago Philippines’ Zobel de Ayala clan makes US$2.5 billion bet on retail, hotels

For Mariana Zobel de Ayala, the chance to help develop the Philippines’ tourism industry by boosting Ayala Land’s investments in retail and hotel properties could not have come at a better time. As the senior vice-president for leasing and hospitality of one of the largest developers in the Philippines, Zobel de Ayala believes tourism will be a major driver of the country’s economic expansion. Ayala Land, which bought the 578-room New World Hotel Makati from distressed Hong Kong developer New...

Economics

3 w. ago Hong Kong urged to expedite government accountability system after water scandal

A vague public apology and blaming a procedural “flaw” have failed to quell public discontent over the government’s water procurement scandal, political analysts have said, urging Hong Kong’s leader to accelerate developing a civil servant accountability system. Analysts made the call on Friday as the government told the Post that the central tender board, chaired by a permanent secretary of the Financial Services and the Treasury Bureau, had given the final approval to the bottled water...

Politics

3 w. ago Apology for Hong Kong water scandal not enough to stem public’s anger: experts

A vague public apology and blaming a procedural “flaw” have failed to quell public discontent over the government’s water procurement scandal, political analysts have said, urging Hong Kong leader John Lee Ka-chiu to accelerate developing a civil servant accountability system. Analysts made the call on Friday as the government said that the central tender board, chaired by the permanent secretary of the Financial Services and the Treasury Bureau, had given the final approval to the bottled water...

Science

3 w. ago Swire Properties set to start selling its largest residential project in 20 years

Swire Properties, one of Hong Kong’s largest developers, is set to start selling homes in its 850-unit, three-tower project on Hong Kong Island, its largest residential development in 20 years. The company, one of the city’s largest commercial landlords, said it would unveil the price list for the flats, which range from one to three bedrooms with areas from 400 sq ft to 1,400 sq ft, in the coming days. The project is developed jointly by Swire Properties and China Motor Bus Company. The launch...

Politics

3 w. ago Top Hong Kong insurers band together on AI development, adoption

Seven major insurers, including AIA, AXA and HSBC Life, on Monday signed a pledge and joined a Hong Kong Insurance Authority programme to promote the adoption of artificial intelligence in the sector to enhance the city as a regional AI hub. FWD, Prudential, YF Life, and China Taiping Insurance (HK) also signed the pledge during a ceremony at Cyberport. Each company will establish and staff an AI centre in Hong Kong to develop innovations for use across the region. The seven insurers are the...

Politics

4 w. ago Baidu’s Apollo Go clocks up 20,000km of ‘safe driving’ in Hong Kong trials

Baidu’s Apollo Go robotaxi service has racked up 20,000 kilometres of “safe driving” in Hong Kong road tests, the company said on Saturday, as the city expands driverless vehicle trial areas in efforts to develop the sector. The mileage was completed during trials in Hong Kong’s Northern Lantau and Tung Chung areas since receiving the city’s first autonomous vehicle pilot licence in November last year, the company said. Apollo’s successful test experience in Hong Kong to date would provide an...

Politics