(Asian Post, November 18, 2017) Hong Kong companies and individuals are still investing in Britain, particularly in property despite an uncertain long- and short-term outlook for the country.

Sajid Javid, Britain's secretary of state for communities and local government, said this was because of the country's welcoming attitude to foreign investment, but analysts pointed out that the low level of the pound was a bigger draw.

"Hong Kong companies have invested US$8 billion in the UK this year, and one of the reasons that people recognise it is an open economy that welcomes foreign investment," said Javid, who was in Hong Kong last week after visiting this year's China International Industrial Fair in Shanghai, as part of a British delegation.

Much of the investment from Hong Kong companies has been made in Britain's property sector. In February, Henry Cheng Kar-shun, the chairman of developer New World Development, committed to invest £1 billion (HK$10.3 billion) to build a mixed property project in London.

In April, mid-sized developer Far East Consortium International announced plans to build 10,000 housing units in Manchester worth £1 billion over the next decade.

"We are seeing more investment from Hong Kong into commercial and residential property in the UK, but the main reason is the value of the pound is so low," said Dennis Ma, the head of research at property consultancy JLL.

The pound's value against the US dollar is currently 11.5 per cent lower than it was the day before Britain voted to leave the European Union on June 23 last year.We are seeing more investment from Hong Kong into commercial and residential property in the UK, but the main reason is the value of the pound is so lowDennis Ma, JLL"Hong Kong investors are concerned that property prices in Hong Kong are nearing their peak, and while there are similar concerns in the UK, investors are less concerned because they expect the value of the pound to revert to the mean, and rise to nearer its former level," Ma said.

Another reason Javid gave for the continual interest in Britain as an investment destination was its stability.

"What makes Britain stand out is its stability, ultimately you have the election cycle, but you see stability in Britain's core economic approach as a country welcoming investment from around the globe."

(Taipei Post, November 18,2017) A consortium including Sino Land Co paid a record HK$17.3 billion (US$2.2 billion) for a plot of residential land in Hong Kong, signaling that the property market is still running hot.

Shimao Property Holdings Ltd , Wheelock Properties Ltd , K Wah International Holdings Ltd and SEA Holdings Ltd were the other members of the group, the Hong Kong Lands Department said in a statement late on Wednesday.

Hong Kong’s residential property market, the world’s most expensive, continues to hit fresh highs even as cracks start to appear in the outlook for prices amid rising interest rates.

Commercial property, where Hong Kong rents are the highest in the world, is also in demand. A Chinese state firm this month led the record HK$40.2 billion acquisition of a 75 percent stake in The Center, a 346m skyscraper, from Li Ka-shing’s CK Asset Holdings Ltd .The site sold on Wednesday at Cheung Sha Wan in Kowloon has a maximum floor area of 91,770m2, the lands department said.The price is a record for residential land, surpassing the HK$16.9 billion paid for a site in Ap Lei Chau in February.

At a land cost price of HK$17,500 per square foot, the implied selling price when the development is completed in three or four years would range from HK$30,000 to HK$33,000 per square foot, said Raymond Cheng , director of Hong Kong and China property research at CIMB Securities Ltd.

(Asian Post, November 17, 2017) Life insurers, property developers and hotel operators have voiced an interest in a development project known as the "Taipei Twin Towers" near the Taipei Railway Station, Jones Lang LaSalle Inc (JLL), the international property broker tasked with organizing the auction, said yesterday.

The statement came after Fubon Financial Holding Co chairman Richard Tsai told a public function on Wednesday that his company had inked a letter of intent with the Taipei Department of Rapid Transit Systems (DORTS) to form a team and join the auction scheduled for next year.

The Taipei City Government, the largest land owner of the project site, intends to be a player this time through a property development proxy to be set up later.

The city government has drawn up a blueprint for the project, which has been the center of bribery scandals for the past 20 years, and is to announce bidding terms in March and pick a winner by the end of next year, JLL Taiwan managing director Tony Chao said.

The two mixed-use buildings are to have 76 floors and 56 floors respectively, in addition to four basements, with total development estimated to reach between NT$70 billion and NT$80 billion (US$2.32 billion and US$2.65 billion), local media reports said.

Winners do not have to adhere to former floor plans to make the project more attractive, Chao said, adding that the twin towers might have a total of 150,000 ping (495,000m2) of floor space.

The international consultancy has visited more than 30 prospective investors at home and abroad, including life insurers, property developers, private equity firms and hotel operators, he said.

(Asian Post, November 16, 2017) At least six new residential developments are expected to become available for purchasers to take possession in the fourth uarter, potentially providing more than 5,000 additional flats for the rental housing market.About half of the new projects ready for occupancy are located in Kowloon, including Eltanin Square Mile in Mong Kok, One Kai Tak phases I and II in Kai Tak, and Mantin Heights in Ho Man Tin.

"Although there is an increase in flat supply, property prices are still rising consistently," said Ricacorp Properties chief executive Will Liu Wai-keung.

"Many single persons or non- homeowners choose to rent a flat rather than buy one, driving demand for the property rental market. Small flats are still the most popular type in the market. Average rents have risen over 10 percent from the beginning of the year."

Liu also expects new properties with ancillary facilities will be particularly popular among tenants, leading to the phenomenon of pre-leasing.

"Some pre-rental agreements have been signed. Capri in Tseung Kwan O will soon be available for occupancy, and at least four pre-rental cases have been recorded," said Ken Lau Ho-kan, district assistant director at Hong Kong Property.

A 401-square-foot, one-bedroom flat at Capri on Tong Yin Street was recently rented out for HK$15,500 monthly, or HK$38.70 per saleable square foot - 8.8 percent lower than the asking rent of HK$17,000.

The owner bought his middle-level unit for about HK$5.24 million in 2015, and now enjoys a rental return of 3.5 percent.

(Asian Post, November 15, 2017) Hong Kong's Kwok family, which controls Sun Hung Kai Properties, was ranked third in the latest Forbes magazine list of Asia's richest families released yesterday.

With an estimated net worth of US$40.4 billion, the family controlling one of the city's biggest landlords and real estate developers topped the list from Hong Kong. Raymond Kwok Ping-luen heads the developer as its chairman and managing director.

Asia's richest man, Li Ka-shing, who has an estimated net worth of US$34 billion, was excluded as none of his grandchildren have taken a serious role in his business empire.

To make the cut, a family must have a minimum net wealth of US$5 billion, up from US$3.4 billion a year ago. At least three generations must have taken part in building the family's wealth, the magazine said.

Ranked sixth was the family of Lee Shau-kee, with an estimate wealth of US$29 billion, followed by the Cheng family headed by Henry Cheng Kar-shun, with a net worth of US$22.5 billion. Lee is the chairman of Henderson Land Development, while Cheng chairs New World Development, both among the largest developers and conglomerates in the city.

The total wealth of Asia's 50 richest families on the latest Forbes list rose to a record US$699 billion, up 35 per cent from last year.The total wealth of Asia's 50 richest families on the latest Forbes list rose to a record US$699 billionIndia's Ambani family, with some US$44.8 billion of assets, was ranked Asia's richest for the first time, jumping from third spot in 2016. They overtook South Korea's Lee family, who control the Samsung Group and have a net worth of US$40.8 billion.