• CBRE’s Comments on the Hong Kong SAR Government’s Policy Address 2020

    26 November 2020

    Marcos Chan, Head of Research, The Greater Bay Area & Hong Kong, CBRE, on The Chief Executive’s 2020 Policy Address.

    He said: “The removal of the Double Stamp Duty comes in a time when the commercial property investment market needs a boost, halving the stamp duty for commercial property transaction will trigger more transactions in the short-term future, with end users expected to be more active.

    Capital values, however, will be less likely to see a strong rebound until leasing demand picks up and rents begin to rise.

    The Policy Address pays efforts to enhance Hong Kong’s livability and long-term competitiveness including initiatives to increase long-term land supply and deepen and broaden the city’s industry base.

    The document offers limited additional support to individuals and corporates after making available HKD$300 billion of supportive measures from earlier in the year. This combined with the fast escalation in the number of confirmed COVID-19 cases, people flow across the border is set to remain limited and unemployment rate is set to climb higher in the next few months.”

    Video

    The 280-meter-tall Lumina Shanghai, developed by Henderson Land Group and designed by Gensler, is the tallest skyscraper in the Xuhui Riverside District.


    A sophisticated yet modern setting was derived by juxtaposition of Indochine-Vietnamese features and wood-fire inspired material palettes. Re-interpretation of the spatial order of a typical Indochine-Vietnamese mansion has been adopted to give hierarchy, layers and details to the space.

     
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