Latest news with #CSIProperties
Business Times
6 days ago
- Business
- Business Times
Wing Tai Properties unveils Hong Kong CBD mixed-use development joint venture with CSI Properties
[SINGAPORE] Real estate developer Wing Tai Properties announced a joint venture with CSI Properties – a mixed-use development in the Hong Kong central business district set to be completed in mid-2026. The placemaking project, named Central Crossing, is a 433,000 square foot (sq ft) development situated at the city's cultural and lifestyle hub and connected to its key business and financial institutions, said Wing Tai Properties on Tuesday (Jul 22). As a Grade A office development built on a heritage site, it aims to embrace the local heritage of the area, including historical features that date back to 1880, while providing a new addition to the city's urban landscape, said the property developer. Located at 118 Wellington Street in the Central district of Hong Kong, it will integrate Grade A offices, a luxury international hotel, a bespoke lifestyle hub, green open spaces and heritage preservation features. The project will feature a dual tower structure, comprising a 28-storey office tower with some 10,600 sq ft of gross floor area and a hotel tower, both of which will be positioned to align with the city's historic urban grid. Commercial spaces will be located at the bases of the towers alongside a four-storey water wall that defines the main entrance of the hotel, Wing Tai Properties said. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Linked to transport hubs through a central walkway system, the development will be a quick walk from the underground Mass Transit Railway and the Airport Express service, which provides access between the city and Hong Kong International Airport. It will be situated close to restaurants, bars and historic attractions such as Tai Kwun, PMQ and Central Market, and will also feature new pedestrian routes that allow people to cross the site at multiple levels and access the surrounding streets. Designed by architecture firm Foster + Partners, Central Crossing is a project under Hong Kong's Urban Renewal Authority. Wing Tai Properties and CSI Properties won the contract to develop the site from the authority in late 2017. Wing Tai Properties is listed on the Hong Kong Stock Exchange. It is part of the Wing Tai Asia network of companies, which includes Singapore-listed Wing Tai Holdings.
Business Times
6 days ago
- Business
- Business Times
Wing Tai unveils Hong Kong CBD mixed-use development joint venture with CSI Properties
[SINGAPORE] Real estate developer Wing Tai announced its joint venture with Hong Kong-listed CSI Properties, a mixed-use development in the Hong Kong central business district set to be complete in mid-2026. Named Central Crossing, the 433,000-square feet (sq ft) development will be situated at the city's cultural and lifestyle hub and connected to its key business and financial institutions, said Wing Tai said on Tuesday (Jul 22). As a Grade A office development built on a heritage site, it aims to embrace the local heritage and historical features of the area that date back to 1880, while providing a new addition to the city's urban landscape, said the property developer. Located at 118 Wellington Street in the Central district of Hong Kong, it will integrate Grade A offices, a bespoke lifestyle hub, green open spaces and heritage preservation features. The project will feature a dual tower structure, comprising a 28-storey office tower with some 10,600 sq ft of gross floor area and a luxury international hotel tower. Both towers will be positioned to align with the city's historic urban grid. Commercial spaces will be located at the bases of the towers alongside a four-storey water wall that defines the main entrance of the hotel, Wing Tai said. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The development will be linked to transport hubs through a central walkway system and situated close to restaurants, bars and historic attractions such as Tai Kwun, PMQ and Central Market. It will also feature new pedestrian routes that allow people to cross the site at multiple levels and access the surrounding streets. Designed by architecture firm Foster + Partners, Central Crossing is a project under Hong Kong's Urban Renewal Authority. Wing Tai and CSI Properties won the contract to develop the site from the authority in late 2017.
Business Times
6 days ago
- Business
- Business Times
Wing Tai unveils Hong Kong CDB mixed-use development joint venture with CSI Properties
[SINGAPORE] Real estate developer Wing Tai announced its joint venture with Hong Kong-listed CSI Properties, a mixed-use development in the Hong Kong central business district set to be complete in mid-2026. Named Central Crossing, the 433,000-square feet (sq ft) development will be situated at the city's cultural and lifestyle hub and connected to its key business and financial institutions, said Wing Tai said on Tuesday (Jul 22). As a Grade A office development built on a heritage site, it aims to embrace the local heritage and historical features of the area that date back to 1880, while providing a new addition to the city's urban landscape, said the property developer. Located at 118 Wellington Street in the Central district of Hong Kong, it will integrate Grade A offices, a bespoke lifestyle hub, green open spaces and heritage preservation features. The project will feature a dual tower structure, comprising a 28-storey office tower with some 10,600 sq ft of gross floor area and a luxury international hotel tower. Both towers will be positioned to align with the city's historic urban grid. Commercial spaces will be located at the bases of the towers alongside a four-storey water wall that defines the main entrance of the hotel, Wing Tai said. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The development will be linked to transport hubs through a central walkway system and situated close to restaurants, bars and historic attractions such as Tai Kwun, PMQ and Central Market. It will also feature new pedestrian routes that allow people to cross the site at multiple levels and access the surrounding streets. Designed by architecture firm Foster + Partners, Central Crossing is a project under Hong Kong's Urban Renewal Authority. Wing Tai and CSI Properties won the contract to develop the site from the authority in late 2017.
South China Morning Post
10-06-2025
- Business
- South China Morning Post
First batch of flats in NWD-led Deep Water Pavilia goes on sale on Saturday
A consortium led by New World Development (NWD) on Saturday will sell the first batch of flats in a new residential project on the south side of Hong Kong Island after pricing them below neighbouring developments. The announcement comes as property consultancy Knight Frank expects home prices in the city to remain under pressure as developers continue to offer hefty discounts to reduce their inventories amid ample supply. NWD said on Tuesday that 138 flats in the 447-unit Deep Water Pavilia project in Wong Chuk Hang would be offered for sale at an average of HK$21,028 (US$2,680) per square foot. NWD owns 50 per cent of the project, which it is co-developing with Empire Group, CSI Properties, Lai Sun Development and MTR Corp. Prospective buyers have submitted 2,500 cheques – more than 18 times the number of flats available – for a chance to buy homes in the project. The project's first price list released last week was about 3 per cent lower than the initial price list of CK Asset Holdings' nearby Blue Coast II in October, and it undercut all of the completed projects in the Southside residential neighbourhood , according to data compiled by property agencies. The 447-unit Deep Water Pavilia residential project in Wong Chuk Hang. Photo: Handout The price was around 30 per cent lower than the first batch at Road King Infrastructure's Southland project, the first phase of Southside, which launched in April 2021 at HK$29,689 per square foot. The units going on sale at Deep Water Pavilia include two to four-bedroom flats ranging from 455 sq ft to 1,261 sq ft. The prices of these units are between HK$8.5 million and HK$37.2 million, or HK$18,688 to HK$29,538 per square foot after discounts.
South China Morning Post
05-06-2025
- Business
- South China Morning Post
New World Development and partners set record-low price for Southside Hong Kong flats
A consortium of builders led by New World Development (NWD) priced a new residential project on the south side of Hong Kong Island below all neighbouring developments, as the embattled company seeks to whittle down HK$124 billion (US$15.8 billion) in debt. The developers priced 101 flats in the 447-unit Deep Water Pavilia project in Wong Chuk Hang at HK$20,932 per square foot. That was about 3 per cent lower than the first price list of CK Asset Holdings' nearby Blue Coast II in October, and it undercut all of the completed projects in the Southside residential neighbourhood , according to data compiled by property agencies. The price was around 30 per cent lower than the first batch at Southland, the first phase of Southside, which launched in April 2021 at HK$29,689 per square foot. Property deals in Hong Kong fell to a three-month low in May as caution prevailed amid heightened US-China tensions and stock market volatility. Residential transactions fell 10.3 per cent from a month earlier to 5,105, Land Registry data showed. The 101 units comprise 95 two-bedroom flats, two three-bedroom units and four four-bedroom homes, priced from HK$8.5 million to HK$37.2 million, or HK$18,688 to HK$29,538 per square foot after a 20 per cent discount. The first sale for the project – co-developed by Empire Group, CSI Properties and Lai Sun Development – could begin as soon as next week, according to NWD, which owns 50 per cent. The sale is expected to provide some relief for cash-strapped NWD, which said last week it would postpone interest payments, due this month, on four perpetual bonds totalling US$3.4 billion.
