Andrew Lawrence News
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The arrest of the billionaire brothers who run Sun Hung Kai Properties Ltd. by Hong Kong’s anti-corruption body may highlight succession risks at the city’s largest family controlled developers.
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The Year of the Dragon, representing wealth and power in China, is shaping up to be the opposite for the world’s costliest housing market, Hong Kong.
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Sun Hung Kai Properties Ltd., Hong Kong’s biggest developer by market value, plans to sell 3,500 homes this year in the city, seeking to benefit from a rebound in transactions over the past month.
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Hong Kong banks expect to continue raising mortgage rates for the rest of this year, signaling the market won’t be rescued by cheap debt as occurred in 2008, Barclays Capital said.
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Hong Kong's mortgage loans dropped to the lowest in almost three years as the city’s property curbs deterred buyers in the world’s most expensive housing market.
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Hong Kong builders are accelerating home sales to raise cash and may issue new shares to help finance projects as credit costs rise amid tightening liquidity at the city’s lenders, according to Barclays Capital Research.
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Derek Ma and his family in May sold two of their eight properties in Hong Kong, doubling their money in four years. They’re struggling to sell the other six.
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Hellas Telecommunications Luxembourg II SCA filed for Chapter 15 bankruptcy to put on hold certain lawsuits pending against the company in New York State Supreme Court.
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India, which is building the world’s second-tallest skyscraper, is catching up with China in an office building boom that may indicate that an economic slowdown is imminent, according to Barclays Capital Research.
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Hong Kong banks may have succeeded where the government failed as rising mortgage rates curb home price gains and cut sales to the lowest level in two years, signaling the property market may have peaked.
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