{"id":118985,"date":"2020-10-21T18:59:12","date_gmt":"2020-10-21T11:59:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/worlds-costliest-office-market-shows-first-signs-of-weakness-as-hong-kong-withdraws-biggest-commercial-site-this-year-developer-cuts-rent-at-kai-tak-tower-by-20-per-cent\/"},"modified":"2020-10-21T20:04:00","modified_gmt":"2020-10-21T13:04:00","slug":"worlds-costliest-office-market-shows-first-signs-of-weakness-as-hong-kong-withdraws-biggest-commercial-site-this-year-developer-cuts-rent-at-kai-tak-tower-by-20-per-cent","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/worlds-costliest-office-market-shows-first-signs-of-weakness-as-hong-kong-withdraws-biggest-commercial-site-this-year-developer-cuts-rent-at-kai-tak-tower-by-20-per-cent\/","title":{"rendered":"World\u2019s costliest office market shows first signs of weakness, as Hong Kong withdraws biggest commercial site this year, developer cuts rent at Kai Tak tower by 20 per cent"},"content":{"rendered":"


\nIn the first signs of a slowdown in Hong Kong\u2019s office property market, the government withdrew this year\u2019s largest commercial site from tender, while Nan Fung Development lowered the asking rent for a grade A office tower under construction at Kai Tak by up to 20 per cent.Bids for the site in Tung Chung, close to Hong Kong International Airport, were received from Sun Hung Kai Properties, CK Asset Holdings and a joint venture of Sino Land and Kerry Properties. About 90 per cent of the project\u2026
\n
\nSource : South China Morning Post
\nRead more…World\u2019s costliest office market shows first signs of weakness, as Hong Kong withdraws biggest commercial site this year, developer cuts rent at Kai Tak tower by 20 per cent<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the first signs of a slowdown in Hong Kong\u2019s office property market, the government...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-118985","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uX7","jetpack-related-posts":[{"id":107982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-walks-away-from-hk11-1-billion-kai-tak-project-citing-social-contradiction-and-economic-instability\/","url_meta":{"origin":118985,"position":0},"title":"Hong Kong developer walks away from HK$11.1 billion Kai Tak project, citing \u2018social contradiction and economic instability\u2019","date":"June 11, 2019","format":false,"excerpt":"\r The Hong Kong developer that beat out several of the city's biggest and wealthiest property groups for a commercial plot at the former Kai Tak airport in May has had a change of mind after less than a month, saying it will abandon the offer, citing \u201csocial contradiction and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116311,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-withdraws-land-sale-at-kai-tak-airport-site-after-tepid-bids-by-developers-amid-citys-economic-contraction\/","url_meta":{"origin":118985,"position":1},"title":"Hong Kong withdraws land sale at Kai Tak Airport site after tepid bids by developers amid city\u2019s economic contraction","date":"May 13, 2020","format":false,"excerpt":"\r Hong Kong\u2019s government has withdrawn a land sale at the city\u2019s former Kai Tak Airport site after a tepid response from bidders, as the city\u2019s worst economic contraction in decades amid the coronavirus pandemic deterred developers from long-term investments.A plot at the former Kai Tak Airport site, which can\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89039,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-raise-prices-of-flats-by-up-to-70-per-cent-as-record-kai-tak-land-sale-boosts-confidence\/","url_meta":{"origin":118985,"position":2},"title":"Hong Kong developers raise prices of flats by up to 70 per cent as record Kai Tak land sale boosts confidence","date":"May 22, 2018","format":false,"excerpt":"\r Hong Kong developers are raising the prices of their unsold units by as much as 70 per cent in a sign that the world\u2019s hottest property market is a long way from running out of steam. Kerry Properties has priced a flat at The Bloomsway in Tuen Mun at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88325,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-hung-kai-pays-hk25-1-billion-for-hong-kongs-costliest-residential-land-at-kai-tak\/","url_meta":{"origin":118985,"position":3},"title":"Sun Hung Kai pays HK$25.1 billion for Hong Kong\u2019s costliest residential land at Kai Tak","date":"May 15, 2018","format":false,"excerpt":"\r Sun Hung Kai Properties has prevailed in a lacklustre tender for a plot of residential land at Hong Kong\u2019s former Kai Tak airport site, paying a record HK$25.16 billion (US$3.2 billion) for the city\u2019s most expensive land parcel, according to data provided by the Lands Department. The Kai Tak\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-hung-kai-pays-a-record-hk42-2-billion-for-austin-road-commercial-plot-in-hong-kongs-costliest-land-tender\/","url_meta":{"origin":118985,"position":4},"title":"Sun Hung Kai pays a record HK$42.2 billion for Austin Road commercial plot in Hong Kong\u2019s costliest land tender","date":"November 27, 2019","format":false,"excerpt":"\r Sun Hung Kai Properties (SHKP), Hong Kong\u2019s largest developer by value, has won the biggest commercial parcel ever sold in the city for a record HK$42.2 billion (US$5.4 billion).The winner beat CK Asset Holdings, a consortium comprising Wharf Holdings, Sino Land, Henderson Land Development, Chinese Estate Holdings and Lifestyle\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-builders-pay-us1-billion-for-first-plot-on-runway-of-old-kai-tak-airport\/","url_meta":{"origin":118985,"position":5},"title":"Hong Kong builders pay US$1 billion for first plot on runway of old Kai Tak airport","date":"November 7, 2018","format":false,"excerpt":"\r What a difference six months makes. A plot of prime waterfront land in Hong Kong has sold at a price that is 18 per cent lower than a comparable tender in the same area. A consortium of four major local developers won the auction for the first residential site\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118985"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=118985"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118985\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}