Property News · August 6, 2021

CK Asset to convert some hotels into residential units to make most of decline in hospitality sector, rise in home prices


CK Asset Holdings will convert some of its hotels for residential use amid a decline in the hospitality sector thanks to the Covid-19 pandemic and a record rise in the city’s home prices. Victor Li Tzar-kuoi, the company’s chairman and managing director, stated publicly for the first time on Thursday that a specific percentage of CK Asset’s hotels portfolio will be converted for housing in the world’s most unaffordable housing market. “We have a huge hotels portfolio. [For] 10, 15 per cent of…

Source : South China Morning Post
Read more…CK Asset to convert some hotels into residential units to make most of decline in hospitality sector, rise in home prices

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