• Invitation to Tender for URA’s Oak Street / Ivy Street Development Project

    19 April 2021

    The Urban Renewal Authority (URA) today (19 April 2021) invites a total of 39 property developers to tender for the development of the Oak Street / Ivy Street Development Project (the Project) in Tai Kok Tsui.

    (按此瀏覽中文版)

    The URA will provide the relevant tender documents to the invited property developers, based on which they can submit tenders for the development. All tender submissions should reach the URA Headquarters at 26/F COSCO Tower, 183 Queen’s Road Central, by 12:00 noon on 20 May 2021 (Thursday). Any submission of the tender received after the specified closing time mentioned above will not be accepted.

    The tender review panel will consider the tenders received and then make recommendation to the URA Board for its decision on the award of the development of the Project.

    The Project, which covers a site area of 619 square metres, was commenced in March 2018. Upon completion, it will provide a maximum total gross floor area of 5,571 square metres.

    The URA and the successful developer will enter into a development agreement which sets out the standard and quality requirements, the environmentally sustainable provisions as well as smart provisions for the developer to follow, with an aim to create a sustainable living environment.

    More Real Estate
    Investment market sentiment continues to strengthen; Industrial assets set to remain sought after as incentivised by The New Pilot Scheme
    (25 March 2021, Hong Kong) Initial signs suggest investors are keen to explore value-add opportunities offered by industrial properties in Hong Kong.  According to preliminary statistics from CBRE, a total of seven industrial properties might have transacted in Q1 2021, involving HK$4.1 billion of investment. This is already more than 70% of the HK$5.7 billion worth of industrial assets [...]
    Hong Kong Grade-A office rents drop moderately in January
    (22 February 2021, Hong Kong) The decline in office rental has abated in January with net effective rents in the overall market dipping by 0.6%, according to JLL’s latest Hong Kong Property Market Monitor released today. The rental fall was moderate, compared with the overall drop in Grade-A office rents of 1.1% m-o-m in December last year. Office rents in core business districts, Central [...]
    Asia Pacific real estate market revival expected to gain momentum this year
    (8 February 2021, Hong Kong) Despite a resurgence of COVID-19 infection rates pointing to a potentially bumpy economic recovery, Asia Pacific is still set to lead global growth, while its real estate markets experience a steady, albeit uneven, recovery this year, according to CBRE’S 2021 Asia Pacific Real Estate Market Outlook. Asia Pacific full-year GDP is projected to grow by 6.6% y-o-y, [...]
    Hill launches Knights Park at Eddington
    (22 January 2021, Hong Kong) Hill, the third largest privately-owned housebuilder in the UK, has launched a new collection of Knights Park homes set within the new community of Eddington, 1.9 miles from the historic centre of Cambridge. (按此瀏覽中文版) A modern and sustainable place to live Comprising 249 studios and one- to four-bedroom apartments, Knight Park offers spacious and [...]
    St James launches Parkside at White City Living
    (14 January 2021, Hong Kong) St James, part of the Berkeley Group, has launched a new collection of parkside homes set within the green landscape of White City Living in London’s W12. A world class social, cultural and educational destination  Parkside residents will find themselves surrounded by world-class retail, entertainment, education, culture and commerce, with Westfield London [...]
    JLL: Retail rental bottomed out; likely to be the first to rebound once the pandemic is contained
    (13 January 2021, Macau and Hong Kong) Macau’s overall property market experienced a relatively moderate consolidation in 2020, thanks to its success in having Covid-19 under control locally and the reopening of the Macau-mainland China borders that enables the city to benefit from mainland China’s dual circulation economic plan.  In 2021, the retail property market is expected to [...]
    Asia Pacific real estate investment transactions set to increase by up to 20% in 2021, says JLL
    (28 December 2020, Hong Kong) Asia Pacific real estate investment volumes will rebound by 15% to 20% in 2021, driven by investor appetite for assets with income stability, according to new research from JLL. The global real estate consultancy predicts increased investor interest next year in logistics and so-called alternative assets such as data centres and multi-family or residential rental [...]
    Lower rents attract increasing presence of Chinese Mainland tenants
    (22 December 2020, Hong Kong) Knight Frank launches the latest Hong Kong Monthly Report. Grade A office rentals extended their downward trend in November, albeit with a less significant rental drop than in the previous quarters. With a fourth COVID-19 wave hitting Hong Kong in late November, the residential market turned quiet again. Purchase sentiment in the primary market cooled down after [...]
    Less severe corrections in commercial property market in 2021 despite a cloudy path to recovery
    (10 December 2020, Hong Kong) The COVID-19 outbreak had led to a price correction across the commercial real estate leasing and investment markets in 2020. Although the volatile pandemic situation and geopolitical tensions will continue to cloud the path to recovery in the property market, the price corrections will be less severe next year. Retail properties, which recorded the sharpest fall [...]