Latest news with #SunHungKaiProperties
South China Morning Post
6 days ago
- Business
- South China Morning Post
Hong Kong property: SHKP's Novo Land and Million Nice's 9 Eastern Street see strong sales
Buyers flocked to two new residential projects on Sunday, buoyed by an ongoing stock market rally and low interest rates – signalling a sustained rebound in Hong Kong's property market. Developer Million Nice (Hong Kong) sold 62 of the 69 units at 9 Eastern Street in Sai Ying Pun, according to agents. Meanwhile, Sun Hung Kai Properties (SHKP) sold all 110 units in the third round of sales at Novo Land phase 3A in Tuen Mun. 9 Eastern Street consists of 76 units, with sizes from 249 sq ft to 508 sq ft. The prices of the units range from HK$4.7 million (US$598,800) to HK$11.9 million, or HK$18,800 to HK$24,400 per square foot after discounts. 'The US-China agreement on trade tariffs this month, a recovering stock market and the possibility of a US rate cut in the second half of the year have stimulated both the primary and secondary housing markets,' said Louis Chan Wing-kit, CEO of Centaline Property Agency. SHKP's Novo Land residential project in Tuen Mun pictured in June 2024. Photo: Edmond So New property sales so far this month have jumped 55 per cent from a month earlier, he said, adding that primary sales could reach 2,000 in July.
South China Morning Post
09-07-2025
- Business
- South China Morning Post
Hong Kong stocks fall on worries about China's deflationary pressure
Hong Kong stocks fell by the most in nearly three weeks as China's deflationary trend became more entrenched, deepening concerns about the nation's growth prospects. The Hang Seng Index dropped 0.8 per cent to 23,943.42 at 10.13am local time on Wednesday and the Hang Seng Tech Index retreated 1.3 per cent. On the mainland, the CSI 300 Index climbed 0.2 per cent and the Shanghai Composite Index added 0.3 per cent. Henderson Land Development slumped 8.3 per cent to HK$26 after raising HK$8 billion (US$1 billion) from the sale of convertible bonds. Other Hong Kong-based property developers also fell: Hang Lung Properties slid 4 per cent to HK$7.38 and Sun Hung Kai Properties sank 3.6 per cent to HK$89.25. Producer prices on the mainland dropped by 3.6 per cent from a year earlier in June, marking the 33rd straight month of declines, the National Bureau of Statistics said on Wednesday. Consumer prices unexpectedly rose by 0.1 per cent Five companies started trading in Hong Kong. Wuhan Dazhong Dental Medical jumped 17 per cent to HK$23.30, Fortior Technology surged 8.5 per cent to HK$130.80 and Apple supplier Lens Technology added 2 per cent to HK$18.54. Beijing Geekplus Technology fell 2 per cent to HK$16.46 and Beijing Xunzhong Communication lost 0.4 per cent to HK$13.50. Other major Asia-Pacific markets were mixed. Japan's Nikkei 225 slipped 0.1 per cent, Australia's S&P/ASX 200 lost 0.3 per cent and South Korea's Kospi rose 0.5 per cent.
South China Morning Post
07-07-2025
- Business
- South China Morning Post
Power play in Chinese family firms: insiders vs. outsiders
[The content of this article has been produced by our advertising partner.] Advertisement History has shown the instrumental role of family businesses in the economy. A 2025 index from EY shows that 500 global family businesses earn US$17.6 billion annually, with 80 per cent yielding more than US$5 billion. Many of them are headquartered in Asia, including Hong Kong with household names like Jardine Matheson, Sun Hung Kai Properties, Chow Tai Fook and the like. It is natural to have family members in executive roles to ensure the firms continue their legacy and identity. On the other hand, family firms often hire professionals outside the family at top management levels to sustain growth and remain competitive. The firms' success then depends on how well these family and non-family managers collaborate, combining their unique skills and perspectives to create a competitive edge. Inevitably, hypothetical dividing lines or faultlines emerge between the two that can impact company performance in various ways. While these divisions can lead to conflicts and impair operations, they can also enhance information sharing and positively affect the firms' earnings, like a double-edged sword. The question is, how far can these lines affect the dynamics of family firms? 'While family and non-family managers collaborate as members of the same team, they differ significantly in terms of family affiliation, personal goals, and the treatment they receive from the controlling family,' says Dora Lau, Associate Professor (Teaching) in the Department of Management at the Chinese University of Hong Kong (CUHK) Business School. Advertisement To explore the implications of this division among Chinese family firms, Professor Lau conducted a study titled Top management team faultline size and family firm performance, in collaboration with Li Wenwen of Sun Yat-Sen University, He Ai of South China University of Technology and Li Xiaotong of Qingdao University of Science and Technology. 'The study found that large demographic faultlines between family and non-family managers would benefit firm performance,' Professor Lau says.
South China Morning Post
05-07-2025
- Business
- South China Morning Post
SHKP Tuen Mun project sells out, signalling rebound in Hong Kong's property market
All 160 units of a new residential project by Sun Hung Kai Properties (SHKP) in Tuen Mun sold out on Saturday, buoyed by a recovering stock market and low interest rates, a sign that Hong Kong's property market may be seeing a sustained rebound, according to analysts. The first round of sales for Novo Land Phase 3A offered 160 units at listed prices, with an additional five units available by tender. Prices started at under HK$3 million (US$382,173) for a three-bedroom flat. All available units were snapped up by 2pm, the developer said. The units varied in size from 259 to 686 sq ft, including studio to three-bedroom layouts, with the bigger units priced as high as HK$7.8 million. The average price per square foot was HK$11,398. The pricing reflected a 1.7 per cent discount compared to the initial price list of the previous Phase 3B release. 'Favourable market conditions are the main reason for the strong sales,' said Sammy Po Siu-ming, CEO of Midland Realty's residential division. 'Interest rates are low, the stock market is rising, and the economy is gradually recovering. The central government is also taking steps to support the property market.' The Novo Walk mall at Novo Land in Tuen Mun. Photo: Edmond So He added that rising rents were also attracting investors looking for rental income.
South China Morning Post
14-06-2025
- Entertainment
- South China Morning Post
Hong Kong pop diva Karen Mok picks up HK$85 million luxury flat in Mid-Levels
According to the Land Registry, a 2,153 sq ft three-bedroom flat at Dynasty Court on Old Peak Road was sold for HK$84.5 million and handed over on June 12 to buyer Morris Karen Joy. Dynasty Court is a luxury housing estate completed in 1991 by Sun Hung Kai Properties . It comprises five blocks, with 409 residential units. Mok, 55, has released 18 studio albums and starred in more than 40 films. She was the first Hong Kong singer to win the Chinese music industry's prestigious Golden Melody Award three times and became the first-ever female solo artist to perform a concert at Beijing's National Stadium , known as the Bird's Nest. Her Mid-Levels transaction reflects how wealthy investors have been snapping up luxury homes in Hong Kong on the cheap , as the prices of these exclusive abodes have plunged by as much as 45 per cent from their peak amid high interest rates.
