Sun Hung Kai Properties, the worldâ€™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
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
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 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
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
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 Kongâ€™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
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
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.
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
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
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 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
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
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
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 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
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 Asiaâ€™s spa destinations won an award, including properties in, Thailand, The Philippines, The Maldives, China, Cambodia and Hong Kong.
The worldâ€™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 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.
A Hong Kong developer who sold an apartment for a world record price was Tuesday condemned for selectively numbering the floors on a 46-storey building as a ploy to attract Chinese buyers.