52 h. ago Banks and brokerages’ growing demand for space buoys Hong Kong’s retail property sector

Hong Kong’s banking and finance sector is tipped to lead retail property leasing activity, with massive uptake by firms like Forthright Securities, Futu Holdings and HSBC providing support to landlords struggling through a multi-year real estate slump. Forthright Securities leased three storeys totalling 14,000 sq ft at Golden Centre in Sheung Wan for its first flagship branch in the city, according to CBRE, which facilitated the transaction. “This transaction not only demonstrates Forthright...

Politics

9 d. ago Repeat buyer tucks into another McDonald’s Hong Kong shop for US$15.2 million

McDonald’s has sold another Hong Kong retail property for HK$118.7 million (US$15.2 million), bringing the proceeds from its ongoing asset disposal programme to about HK$490 million, as well-capitalised investors continue to snap up prime real estate. The 10,000 sq ft-plus property at 46-47 Yee Wo Street in Causeway Bay was sold to Evergreen Capital Partners. Ng Yin was listed as director of the firm, according to the Companies Registry. The deal, which was signed on December 10, included the...

Economics

1 week ago Morgan Stanley lifts Hong Kong property to ‘attractive’, with rebound to extend into 2027

Morgan Stanley upgraded Hong Kong’s property sector to “attractive”, noting that an all-round improvement in the city’s economy and a policy-driven recovery will continue to push prices higher this year. The US investment bank forecast home prices to rise around 10 per cent in 2026, with further gains expected in 2027, pointing out that the ongoing rebound marks the start of a new upcycle. “We expect all three sub-segments – Hong Kong residential prices, Central office rents and retail rents –...

Politics

1 week ago 6.5% of shark fins sold in Hong Kong are protected, much higher than reported: study

An extensive study of 16,000 shark fin samples taken from Hong Kong retail markets has found that 6.5 per cent of them were globally protected species, surpassing the figure officially declared by local authorities under a Geneva-based international agreement. The study published in Science Advances on Monday also revealed a shocking disparity: the volume of critically endangered oceanic whitetip shark fins sold in the city was 70 times higher than what officials reported under the Convention on...

Politics

1 week ago 6.5% of shark fins sold in Hong Kong are protected, higher than reported: study

An extensive study of 16,000 shark fin samples taken from Hong Kong retail markets has found that 6.5 per cent of them were from globally protected species, surpassing the figure officially declared by local authorities under an international agreement. The study, published in Science Advances on Monday, also revealed a disparity: the volume of critically endangered oceanic whitetip shark fins sold in the city was 70 times higher than what officials reported under the Convention on International...

Politics

1 week ago Hongkongers flock to say goodbye as landmark Sha Shui Po department store closes

Loyal customers and bargain hunters crowded a landmark department store in Hong Kong on Sunday as it closed its doors after three decades of operations. The closure of Sincere Department Store’s Sham Shui Po branch, a neighbourhood fixture for 30 years, leaves the chain with only two remaining outlets. Founded in 1900, Sincere was the first Chinese-owned department store in Hong Kong and remains one of the city’s oldest retail groups. Its branches in Mong Kok and Central continued to operate. On...

Politics

1 week ago Hongkongers flock to say goodbye as landmark Sham Shui Po department store closes

Loyal customers and bargain hunters crowded a landmark department store in Hong Kong on Sunday as it closed its doors after three decades of operations. The closure of Sincere Department Store’s Sham Shui Po branch, a neighbourhood fixture for 30 years, leaves the chain with only two remaining outlets. Founded in 1900, Sincere was the first Chinese-owned department store in Hong Kong and remains one of the city’s oldest retail groups. Its branches in Mong Kok and Central continued to operate. On...

Politics

2 w. ago Hong Kong’s retail recovery extends into November with sales climbing 6.5%

Hong Kong’s retail recovery extended into November last year, with sales climbing 6.5 per cent year on year as authorities pointed to improving local consumption, macroeconomic stability and growth in visitor numbers. Official figures released on Friday placed November’s provisional estimate for retail sales value at HK$33.7 billion (US$4.3 billion), the third consecutive month of growth at above 6 per cent level year on year. “Retail sales sustained its recovery momentum in November,” a...

Politics

2 w. ago Hong Kong’s retail uptick extends into November with sales climbing 6.5%

Hong Kong’s retail uptick extended into November last year, with sales climbing by 6.5 per cent year on year as authorities pointed to improving local consumption, macroeconomic stability and growth in visitor numbers. But an industry leader warned against framing the trend as a “recovery” due to the low starting point set by past sales and increases being driven by temporary seasonal boosts, adding that the sector was feeling cautious and experiencing mixed results over the traditional...

Politics

2 w. ago Hong Kong primary home sales poised for decade high in 2026 as small flats energise market

Hong Kong’s primary residential home sales in 2026 are forecast to again reach decade-high numbers, as developers continue to clear inventory and homebuyers focus more on small, low-cost flats. Transactions next year were projected to reach about 21,000, while total home sales were expected to climb to around 71,000, up 8 per cent from this year’s forecast, according to Midland Realty. A total of 26,479 new flats were expected to be rolled out next year, spread across Kai Tak, the North...

Economics