Kai Tak Station Area Sees 7-Year Low in Square Foot Prices: Can SHKP’s $25.1 Billion Gamble Still Pay Off
- The average square foot price in the Kai Tak station area has reached a 7-year low.
- JARDINE'S LOOKOUT launched a tender for 25 units on Friday with a discount of 660 million.
- Finance 3 ministries and commissions will open the bidding today.
Hong Kong Real Estate Market Sees Notable Developments
Tuesday, September 24, 2024
Hong Kong Real Estate Market Trends
The average square foot price in the Kai Tak station area has reached a 7-year low. Six years ago, SHKP won the bid for 25.1 billion and became the king of land, with a land price per square foot of 17,800.
Notable Property Transactions
JARDINE’S LOOKOUT launched a tender for 25 units on Friday with a discount of 660 million. The full floor of Shun Tak Center was sold at a price of 30,000 per square foot. Tam Por-wing sold a duplex in Bel-Air for 190 million and earned 60% in 15 years.
Market Expectations and Regulations
Finance 3 ministries and commissions will open the bidding today. The market is expected to increase the amount of water and reduce the price first on the 14th. Pan Gongsheng stated that the intensity of monetary policy regulation will be increased.
Stock Market Updates
Morgan Stanley said it no longer prefers A-shares and Hong Kong stocks ended six consecutive rises. Meituan plans to issue US dollar senior notes, causing its stock price to fall 2%. Lei Jun previewed the release of Note 14 on Thursday, and Xiaomi has been on the rise in the past three years.
Business and Investment News
Xu Zhengyu stated that Hong Kong must continue to increase market vitality. China Resources Beverage may have a Hong Kong IPO pre-roadshow as soon as Thursday. Carrot raises 750 million to raise funds and introduces two basic investments. Hong Kong unicorn Animoca Brands is reported to be listed in Hong Kong.
Digital Currency and Financial Developments
The Hong Kong Monetary Authority has launched the Digital Macau dollar second-phase pilot plan. Macau deploys and promotes digital Macau patacas R&D project. HSBC survey: middle class must have more than 20 million to achieve an ideal retirement life.
Company Acquisitions and Partnerships
Miniso buys 6.3 billion Yonghui Supermarket 29% stake, warrants imprisoned. Former Goldman Sachs trader reinvests. ENN Energy plans to buy 600 million new bonus shares and repurchase interest rate cuts.
Global Market Trends and Analysis
Gold prices hit a new high of US$2,635 in anticipation of interest rate cuts. Some analysts worry about the emergence of a “black swan” or facing an economic recession. SK Hynix’s rating has been downgraded. Former stock seller Morgan Stanley was investigated by South Korea for violations.