{"id":122974,"date":"2021-11-03T06:30:22","date_gmt":"2021-11-02T23:30:22","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-world-development-pays-us164-5-million-for-20-per-cent-stake-in-three-old-buildings-in-prime-hong-kong-area\/"},"modified":"2021-11-03T08:09:27","modified_gmt":"2021-11-03T01:09:27","slug":"new-world-development-pays-us164-5-million-for-20-per-cent-stake-in-three-old-buildings-in-prime-hong-kong-area","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-world-development-pays-us164-5-million-for-20-per-cent-stake-in-three-old-buildings-in-prime-hong-kong-area\/","title":{"rendered":"New World Development pays US$164.5 million for 20 per cent stake in three old buildings in prime Hong Kong area"},"content":{"rendered":"


\nNew World Development has acquired a further 20 per cent ownership in three dilapidated buildings in the heart of Causeway Bay for HK$1.28 billion (US$164.5 million), according to people familiar with the matter.The price was about 29 per cent lower than the market expectation of HK$1.8 billion, analysts said.The latest acquisition takes New World\u2019s ownership to 80 per cent in the three eight-storey buildings close to Russell Street, once the world\u2019s most expensive retail location.Under the\u2026
\n
\nSource : South China Morning Post
\nRead more…New World Development pays US4.5 million for 20 per cent stake in three old buildings in prime Hong Kong area<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New World Development has acquired a further 20 per cent ownership in three dilapidated buildings...<\/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-122974","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-vZs","jetpack-related-posts":[{"id":121482,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/derelict-buildings-on-prime-site-in-causeway-bay-may-finally-be-in-line-for-redevelopment-as-two-families-sell-their-minority-stake-for-up-to-hk1-8-billion\/","url_meta":{"origin":122974,"position":0},"title":"Derelict buildings on prime site in Causeway Bay may finally be in line for redevelopment as two families sell their minority stake for up to HK$1.8 billion","date":"August 17, 2021","format":false,"excerpt":"\r The final hurdle standing in the way of plans to redevelop three dilapidated buildings in the heart of Causeway Bay may soon be cleared.Two families have decided to auction off their 20 per cent stake in the plot in one of the Hong Kong\u2019s busiest commercial districts, in a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93463,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-chinese-investment-in-hong-kong-office-buildings-hits-new-high-in-first-half\/","url_meta":{"origin":122974,"position":1},"title":"Mainland Chinese investment in Hong Kong office buildings hits new high in first half","date":"July 6, 2018","format":false,"excerpt":"\r Mainland Chinese investment in commercial property in Hong Kong rose to a new high in the first half of this year, propelled by several high-profile purchases of office towers. A total of 15 sales of commercial properties worth a total of HK$31 billion (US$3.9 billion) were completed by mainland\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83317,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/henderson-lands-underlying-profit-rises-38-per-cent-beats-estimates\/","url_meta":{"origin":122974,"position":2},"title":"Henderson Land\u2019s underlying profit rises 38 per cent, beats estimates","date":"March 21, 2018","format":false,"excerpt":"\r Henderson Land Development, owned by one of Hong Kong\u2019s wealthiest families, revealed it holds majority stakes in 51 projects to redevelop old tenement buildings in the city as it reported better-than-expected underlying profit. Excluding revaluation gains on investment properties, underlying profit jumped 38 per cent to HK$19.55 billion in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-chinese-developer-jiayuan-says-hong-kong-micro-flats-profitable-despite-price-cuts-reports-23-per-cent-rise-in-interim-profit\/","url_meta":{"origin":122974,"position":3},"title":"Mainland Chinese developer Jiayuan says Hong Kong micro flats profitable despite price cuts, reports 23 per cent rise in interim profit","date":"August 27, 2019","format":false,"excerpt":"\r The mainland Chinese property developer behind Hong Kong\u2019s smallest micro flats ever \u2013 smaller than a car park at 128 sq ft \u2013 said the development was profitable even after it cut prices by as much as 38 per cent to as low as HK$1.73 million (US$220,514) per unit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65068,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-china-unit-buys-three-commercial-buildings-in-hong-kong-for-hk3-billion\/","url_meta":{"origin":122974,"position":4},"title":"Bank of China unit buys three commercial buildings in Hong Kong for HK$3 billion","date":"August 31, 2017","format":false,"excerpt":"\r Bank of China (Hong Kong)\u2019s asset management arm said it has completed the acquisition of three commercial buildings in Hong Kong for a total of HK$3.1 billion (US$396 million), the latest deal involving mainland entities in the city\u2019s property market. BOCHK Asset Management bought 100 per cent of The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98682,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homeowners-slash-prices-by-up-to-16-per-cent-as-fear-grips-hong-kong-in-wake-of-prime-rate-hike\/","url_meta":{"origin":122974,"position":5},"title":"Homeowners slash prices by up to 16 per cent as \u2018fear\u2019 grips Hong Kong in wake of prime rate hike","date":"September 27, 2018","format":false,"excerpt":"\r Fears of a drop in home prices are growing in the world\u2019s least affordable housing market as at least five homes were unloaded at discounts of up to 16 per cent on Thursday, following higher mortgage lending rates unveiled by 11 local banks. In anticipation of higher prime lending\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\/122974"}],"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=122974"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=122974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=122974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=122974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}