Luxuo
The Most Expensive Land in Hong Kong

Sun Hung Kai Properties, the world’s biggest developer by market value, paid HK$10.9 billion ($1.4 billion) for a residential site at a public auction in HongKong. At HK$12,540 per square foot, it is the highest price paid in a government auction in urban Hong Kong since the market peaked in 1997. Luxury home prices may … Continued

Hong Kong Property Sells for $233 Million

A plot of land in one of Hong Kong‘s most sought-after areas sold for a record 1.82 billion Hong Kong dollars ($233 million USD) at auction Tuesday. The 4,956-square-metre plot fetched 17 per cent more than the reserve price. The winning bid was made by Henderson Land Development Company vice-chairman Martin Lee. The price was … Continued

Hong Kong boasts world’s least affordable homes

Bad times are getting even worse for Hong Kong‘s homemakers with a comparative survey showing it is now harder to own an apartment here than in other major cities of the world. The report released Wednesday claims that your average Hongkonger has to spend 10 times their annual income to buy an apartment — the … Continued

Iconic Hong Kong hotel chain plans Indian expansion

Iconic luxury chain Peninsula is planning to begin operations in India as part of its global expansion plan, the chain has confirmed. Clement Kwok, the CEO of Peninsula owner Hongkong & Shanghai Hotels Ltd, told BusinessWeek magazine that the brand would open a maximum of 15 properties globally in the next five to ten years. … Continued

Rare blue diamond fetches $6.4M in Hong Kong

A rare 5.16-carat blue diamond sold at auction for $6.4 million in Hong Kong on Wednesday, confirming Asia’s fast-growing taste for the precious stone. London’s famed Moussaieff Jewellers paid more than the $5.9 million expected price tag for the pear-shaped stone, the first blue diamond from the celebrated De Beers Millennium Jewels Collection to appear … Continued

Design-Led Hullett House Debuts In Hong Kong

The design-led, all suite heritage hotel that occupies the upper floors of Hullett House offers guests a refined and elegant experience that is reminiscent of Hong Kong’s vibrant past. Hullett House is conveniently located on Canton Road in Tsim Sha Tsui, in a magnificent white-stucco colonial building dating from 1881. The hotel provides a collection … Continued

Chinese interest rules the auction world

In a bold recognition of the world’s fastest-growing auction market, Sotheby’s recently hoisted China‘s flag at the most conspicuous spot outside its New York headquarters. The flag now flies between those of the US, UK, France, and Switzerland, where the auction house has established its core client base. “We proposed it. To my great surprise, … Continued

Video: China’s love for luxury

CNN posted an interesting video today about the growing number of mainland Chinese shoppers flocking to Hong Kong to buy luxury goods, much to the enjoyment of Hong Kong retailers and international luxury brands alike.

Martell unveils first Cognac Experience Boutique

Pernod Ricard has opened the first Martell Experience Boutique at Hong Kong International airport (HKIA) terminal one’s arrivals area. The Martell Experience Boutique is one of only two places in the world to obtain a bottle of L’Or de Jean Martell, according to Jean-Etienne Gourgues. Customers who buy a bottle of L’Or de Jean Martell … Continued

Chinese collectors push prices to new levels

Prices for antiques in China have risen sharply over the past five years and now galleries all over the world over are waiting for the nation’s cashed-up collectors to spread the wealth overseas. Speaking on the sidelines of the Netherlands’ Tefaf Maastricht, New York gallery director James Hennessy said that internationally things were looking up … Continued

Asia Boating Awards 2010

The sixth edition of the Prestigious Asia Boating Awards will be hosted this year at the Hong Kong Gold Coast Yacht and Country Club. For the first time ever, the Asia Boating Awards, the top event of the yachting calendar in Asia, will be staged in Hong Kong at the upcoming Hong Kong Gold Coast … Continued

China demand driving world wine market growth

China is expected to be the world’s seventh largest wine consumer by 2013 as the nation’s thirst for vintages continues to grow amid an economic boom. The country will consume around 1.26 billion bottles of wine in 2013, an increase of about 32 percent from 2009, according to findings of Vinexpo, organiser of one of … Continued

Cullinan Heritage Diamond sells for $35.3 million

Petra Diamonds Limited announced that the 507 carat Cullinan Heritage sold for US $35.3 million, the highest sale price on record for a rough diamond. The diamond was sold on tender in South Africa and was purchased by Hong Kong-based Chow Tai Fook Chow Tai Fook Jewellery Company . The Cullinan Heritage was recovered in … Continued

Shop sale fetches record price in Hong Kong

A company run by Hong Kong‘s best-known entertainment mogul has paid a record 108 million US dollars for a shop in one of the busiest districts. The sale of the 1,212 square foot outlet comes as the city’s government tries to contain soaring property costs due to fears they are getting out of control. The … Continued

“Vivid pink” diamond sells for record $10.8 million

A ring with a pink diamond the size of a chickpea was auctioned off for a record HK$83.5 million ($10.8 million) in Hong Kong on Tuesday. “Vivid Pink,” as it’s called, is a five-carat stone flanked by two white diamonds and set in a ring by elite jeweler Graff. It hails from a private collection. … Continued

Michelin honours cheap eats in new HK-Macau guide

Michelin has added a cheap restaurant category to its new Hong Kong and Macau guide unveiled Thursday, after critics accused the culinary bible of ignoring the cities’ food-stall culture. Twenty-nine “simple shop” restaurants received star ratings in the guide’s second edition, with its highest three-star rating awarded to a pair of French restaurants and one … Continued

AsiaSpa Award winners announced

The winners of the 2009 AsiaSpa Awards were announced at a glamorous gala awards ceremony held at Armani Bar Hong Kong last Thursday. The majority of Asia’s spa destinations won an award, including properties in, Thailand, The Philippines, The Maldives, China, Cambodia and Hong Kong.

World’s tallest hotel to be built in Hong Kong

The world’s tallest hotel will open in Hong Kong in 2010 when the Ritz-Carlton, Hong Kong, welcomes its first guests. The 312-bedroom hotel will occupy floors 102 to 118 on the International Commerce Centre (ICC) — currently taking shape on the Kowloon waterfront spanning 484 meters and 118 storeys when completed by the end of … Continued

Hong Kong firm to pawn luxury handbags

Hong Kong firm has launched a series of television commercials offering personal loans in exchange for ladies’ luxury handbags. Yes Lady Finance will pay cash-strapped socialites up to 70 percent of the bag’s value with 28 percent annualised interest, the South China Morning Post said.