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Real Estate Industry Hong Kong

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BUSINESS
August 3, 1992 | From Times Staff and Wire Reports
Property Prices Keep Rising: Property prices continued to rise in the second quarter, according to consultant Jones Lang Wootton. However, rents failed to keep pace with prices and as a result property yields are falling, it said. Strong demand and favorable interest rates have fueled the rise in prices, analysts said.
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BUSINESS
October 25, 1997 | MAGGIE FARLEY, TIMES STAFF WRITER
Despite Friday's partial rebound in stock prices here, the damage from the week's steep decline was already starting to make itself felt. At a real estate office near the edge of Hong Kong harbor, phones were ringing with property sellers willing to cut their asking prices to raise cash quickly. "Nobody wants to buy at this level," said Patrick Fung, sales manager for Midland Realty, describing new luxury developments that came to market this week that may stand empty for a while.
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NEWS
May 9, 1997 | MARC LACEY, TIMES STAFF WRITER
The Republican National Committee announced Thursday that it would return $102,400 in illegal donations from a Hong Kong real estate company, marking an important expansion in the controversy over foreign-linked political contributions. The money from Young Brothers Development of Hong Kong is the first large donation the Republicans have returned since the campaign fund-raising controversy erupted last fall.
NEWS
May 9, 1997 | MARC LACEY, TIMES STAFF WRITER
The Republican National Committee announced Thursday that it would return $102,400 in illegal donations from a Hong Kong real estate company, marking an important expansion in the controversy over foreign-linked political contributions. The money from Young Brothers Development of Hong Kong is the first large donation the Republicans have returned since the campaign fund-raising controversy erupted last fall.
BUSINESS
July 27, 1989 | JOHN ELLIOTT, Financial Times of London
The government on Wednesday sold the last prominent vacant plot in Hong Kong's financial district, a prime office development site, for $346 million. While the government claimed the sale was a significant indicator of confidence in Hong Kong, the purchase price was well below predictions made before the crackdown on student protest in China.
BUSINESS
October 1, 1993 | From Times Staff and Wire Reports
Hong Kong Franchise: Century 21 Real Estate Corp. of Irvine said that it has expanded to Hong Kong by selling a master franchise for the area to a local entrepreneur there. With its new partner, Luke Kai Man Ng, the company created Century 21 Hong Kong Ltd., which expects to open a real estate brokerage operation in the Southeast Asian city soon, said Century 21 spokeswoman Susan Pretkus Combs. Century 21 already has 6,000 real estate offices in the United States and in eight other countries.
NEWS
September 27, 1994 | CHARLES P. WALLACE, TIMES STAFF WRITER
When banker Doug Lawson moved his family here recently from Singapore, he learned the hard way what real estate agents are fond of calling "shock therapy, Hong Kong-style." The first jolt came when he finally found an apartment big enough to house his wife, Laura, and four children. The apartment, on the 30th floor of a high-rise in trendy Tai Tam on Hong Kong Island, was less than half the size of his former townhouse in Singapore. The rent: a lofty $9,000 a month.
BUSINESS
April 27, 1992 | CHRISTINE COURTNEY, SPECIAL TO THE TIMES
Japanese investors are feverishly selling property in Hong Kong to help offset losses they have taken in the plummeting Tokyo stock market. Experts say Japanese investors have sold more than half their property in the colony in the past year as troubled Japanese banks have called in debts.
BUSINESS
October 25, 1997 | MAGGIE FARLEY, TIMES STAFF WRITER
Despite Friday's partial rebound in stock prices here, the damage from the week's steep decline was already starting to make itself felt. At a real estate office near the edge of Hong Kong harbor, phones were ringing with property sellers willing to cut their asking prices to raise cash quickly. "Nobody wants to buy at this level," said Patrick Fung, sales manager for Midland Realty, describing new luxury developments that came to market this week that may stand empty for a while.
BUSINESS
March 18, 1989 | From Reuters
Hong Kong's biggest landlord said Friday that it would restructure into a Bermuda-based holding company in a move seen by analysts as damaging to confidence in the British colony's future. The Hongkong Land Co., which owns most of the prime real estate in Hong Kong's main business district, is following to Bermuda Jardine Matheson Holdings, the company made famous in James Clavell's novel "Noble House." Jardine Matheson effectively controls Hongkong Land through a holding company.
NEWS
September 27, 1994 | CHARLES P. WALLACE, TIMES STAFF WRITER
When banker Doug Lawson moved his family here recently from Singapore, he learned the hard way what real estate agents are fond of calling "shock therapy, Hong Kong-style." The first jolt came when he finally found an apartment big enough to house his wife, Laura, and four children. The apartment, on the 30th floor of a high-rise in trendy Tai Tam on Hong Kong Island, was less than half the size of his former townhouse in Singapore. The rent: a lofty $9,000 a month.
BUSINESS
April 25, 1994 | From Times Staff and Wire Reports
Land to Be Opened for Development: In a move aimed at cooling Hong Kong's red hot real estate market, China and Britain agreed to release about 290 acres of Hong Kong government land for development in the current fiscal year. About 77 acres will be sold for commercial, residential and industrial development in the year that began April 1. This is 32.5% more than the 58 acres allocated to the sector last year.
BUSINESS
October 1, 1993 | From Times Staff and Wire Reports
Hong Kong Franchise: Century 21 Real Estate Corp. of Irvine said that it has expanded to Hong Kong by selling a master franchise for the area to a local entrepreneur there. With its new partner, Luke Kai Man Ng, the company created Century 21 Hong Kong Ltd., which expects to open a real estate brokerage operation in the Southeast Asian city soon, said Century 21 spokeswoman Susan Pretkus Combs. Century 21 already has 6,000 real estate offices in the United States and in eight other countries.
BUSINESS
April 27, 1992 | CHRISTINE COURTNEY, SPECIAL TO THE TIMES
Japanese investors are feverishly selling property in Hong Kong to help offset losses they have taken in the plummeting Tokyo stock market. Experts say Japanese investors have sold more than half their property in the colony in the past year as troubled Japanese banks have called in debts.
BUSINESS
July 27, 1989 | JOHN ELLIOTT, Financial Times of London
The government on Wednesday sold the last prominent vacant plot in Hong Kong's financial district, a prime office development site, for $346 million. While the government claimed the sale was a significant indicator of confidence in Hong Kong, the purchase price was well below predictions made before the crackdown on student protest in China.
BUSINESS
March 18, 1989 | From Reuters
Hong Kong's biggest landlord said Friday that it would restructure into a Bermuda-based holding company in a move seen by analysts as damaging to confidence in the British colony's future. The Hongkong Land Co., which owns most of the prime real estate in Hong Kong's main business district, is following to Bermuda Jardine Matheson Holdings, the company made famous in James Clavell's novel "Noble House." Jardine Matheson effectively controls Hongkong Land through a holding company.
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