This is the weekly news wrap, featuring the latest real estate stories from Hong Kong. Whether your interest lies in industrial, retail, office real estate or asset investments, we have got the news that matters, covered. 

HK's Hopewell Says Chairman Offers to Privatise for $2.7 bln
Hopewell Holdings Ltd said a consortium led by its chairman has offered to take the property and infrastructure group private for HK$21.26 billion. The consortium led by Chairman Gordon Wu, which owns 36.9% of the company, offered to buy all outstanding 547.85 million shares, or 63.1% of the issued share capital it does not already own, for HK$38.8 per share in cash.

Hong Kong’s Excelsior Hotel Can Still Be Bought for the Right Price, Says Mandarin Oriental CEO
South China Morning Post

The Mandarin Oriental Group will push ahead with its US$650 million plan to redevelop The Excelsior Hotel building in Hong Kong into a Grade A office tower, even as it holds out the possibility that it could still find a buyer for the iconic waterfront building. Mandarin had called off an earlier sale, first announced in June 2017, after receiving lackluster offers that failed to meet expectations, after valuers had forecast the property to fetch more than HK$30 billion (US$3.8 billion).

Hong Kong Retail Sales Growth Picks Up in October, Headwinds Cloud Sentiment

Hong Kong’s retail sales growth picked up in October from the prior month, government data showed, but consumer sentiment could be increasingly clouded by weak asset markets and external factors like the U.S.-China trade war. Retail sales in October rose 5.9% from a year earlier in value terms to HK$39.7 billion (US$5.08 billion), marking the 20th month of expansion, helped by a rise in visitor numbers and continued income growth. That compares with a 2.4% rise in September.

November Property Sales Down 26%
China Daily

The Land Registry recorded 3,953 sale and purchase agreements for all building units in November, down 26.4% on October and down 48% compared to the same period last year. The total consideration for sale and purchase agreements for the month was HK$43.3 billion, down 4.9% on October and 35.1% year-on-year.

Club Med's Chinese Owner Launches $548 Million Hong Kong IPO

Fosun Tourism Group, a unit of billionaire Guo Guangchang’s drugs-to-insurance conglomerate, started taking orders for a Hong Kong initial public offering of as much as $548 million. The owner of luxury resort brand Club Med is offering 214.2 million shares at HK$15.60 to HK$20.00 apiece, according to a prospectus distributed at a media briefing. The company aims to price the deal Dec 7 and begin trading Dec. 14, the prospectus shows.

Shenzhen Tycoon Quells Talk of Financial Problems, Says He’ll Pay for Early Possession of House on The Peak
South China Morning Post

The Shenzhen property tycoon who agreed to pay HK$2.1 billion (US$268.5 million) for Hong Kong‘s most expensive mansion on The Peak says he will take possession of the property a year early, quelling talk that the deal was in trouble. The deal is now expected to be completed by the first quarter of 2019, or 12 months ahead of the original schedule, without interior fittings and other finishing works completed.

HMV Shares Slump by Another 25% on Wednesday as Landlords Sue for More Than HK$5 million in Overdue Rent
South China Morning Post

HMV Digital China Group’s shares tumbled by a further 25% on Wednesday amid concerns the company may liquidate or dispose of its loss-making retail units. The company’s shares closed at 1.5 HK cents on GEM, down by 25 per cent from Tuesday when they fell by 80%. GEM is the second board of the Hong Kong stock market, tailored towards small and medium-sized companies that have yet to post a profit.

CBRE in the News

New York’s Office Rents Close Gap with Hong Kong
South China Mornig Post 

Features Marcos Chan, Head of Research, CBRE Hong Kong, Southern China and Taiwan

Grade A Office Rents in CBDs Expected to Reach Peak Next Year; CBRE Says Cheung Sha Wan Offers Good Investment Opportunities
Hong Kong Economic Times

Features Marcos Chan, Head of Research, CBRE Hong Kong, Southern China and Taiwan

CBRE at 40
The Standard

Features CBRE Hong Kong