One of the biggest belongings offers in Hong Kong became the sale of both towers of developer Wheelock and Co.’s One Harbourgate complicated in Kowloon to mainland buyers, JLL said. Insurance massive China Life acquiring the west tower for HK$five.86 billion in November, while Shenzhen billionaire Chen Hongtian’s Cheung Kei Holdings picked up the east tower for HK$four.Five billion.
“In the closing yr, Chinese corporations have invested extra than RMB 28 billion into Hong Kong properties,” said Oscar Chan from JLL’s China Capital Markets team. “This starvation for Hong Kong actual property suggests not handiest the developing worldwide footprint of many mainland businesses, however also the developing popularity of the fee of conserving homes valued in extraordinary currencies.”
New York has additionally been a major goal for Chinese investors, with sovereign wealth fund CIC investing $seven hundred million into New York Plaza in Manhattan in May, and China Life partnering with US developer RXR to shop for a New York workplace tower for $1.Sixty five billion that identical month.
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