* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, October 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

    Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Four Strategic Signals Technology Leaders Are Tuning In To – SPONSOR CONTENT FROM ARM – Harvard Business Review

    Four Essential Strategic Signals Every Technology Leader Should Watch

    Virginia Tech hosts annual New Music + Technology Festival this week – Cardinal News

    Virginia Tech Kicks Off Exciting Annual New Music and Technology Festival This Week

    Why I gave the world wide web away for free | Tim Berners-Lee – The Guardian

    Why I Decided to Make the World Wide Web Free for Everyone | Tim Berners-Lee

    From shale to steam: Fossil fuel technology boosts clean geothermal energy – Washington Examiner

    From Shale to Steam: How Fossil Fuel Technology is Powering a Clean Geothermal Energy Revolution

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Danielle Fishel Explains Why Being on “DWTS” Makes Her Feel ‘Like It’s 1994 Again’ Filming “Boy Meets World” (Exclusive) – Yahoo

    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

    Jussie Smollett Opens Up About Feeling ‘Disrespected’ During the ‘Special Forces’ Season Premiere

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Four Strategic Signals Technology Leaders Are Tuning In To – SPONSOR CONTENT FROM ARM – Harvard Business Review

    Four Essential Strategic Signals Every Technology Leader Should Watch

    Virginia Tech hosts annual New Music + Technology Festival this week – Cardinal News

    Virginia Tech Kicks Off Exciting Annual New Music and Technology Festival This Week

    Why I gave the world wide web away for free | Tim Berners-Lee – The Guardian

    Why I Decided to Make the World Wide Web Free for Everyone | Tim Berners-Lee

    From shale to steam: Fossil fuel technology boosts clean geothermal energy – Washington Examiner

    From Shale to Steam: How Fossil Fuel Technology is Powering a Clean Geothermal Energy Revolution

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Gaw Positioned to Take Full Ownership of Hong Kong Office Complex as Partner Falters

July 1, 2024
in Technology
Gaw Positioned to Take Full Ownership of Hong Kong Office Complex as Partner Falters
Share on FacebookShare on Twitter

cityplaza Hong Kong

Gaw Capital and Hengli had acquired Cityplaza Three and Four in 2018

Hong Kong’s higher for longer interest rates and declining office market could be setting up private equity shop Gaw Capital Partners for a significant windfall in the city’s Quarry Bay area.

The Hong Kong-based fund manager is preparing to acquire the 35 percent stake that it does not yet own in Cityplaza Three and CityPlaza Four, a pair of office buildings on the eastern end of Hong Kong island, from its partner via a public auction, according to industry sources, who confirmed an earlier report by Bloomberg.

Gaw would be taking over the stake in the 1 million square foot (92,903 square metre) complex from Hengli Investment Holdings just under six years after it had joined the private firm controlled by investor Chen Changwei in acquiring the pair of buildings from Swire Properties in a $1.9 billion deal.

With Hong Kong’s office market facing record low occupancy, Hengli since late last year has failed to make its share of payments on a loan on the property, with Gaw Capital having covered the obligation on behalf of its partner. With that obligation continuing to be unfulfilled, the private equity firm is now positioned to take full ownership of the property.

High Interest, Higher Vacancy

Vacancy in Hong Kong’s grade A office market is hovering around the highest levels in two decades and rose to 13.5 percent in May, according to a report by JLL, up from just over 12 percent a year earlier. Office rents have now fallen 33 percent from their 2019 peak, according to the consultancy.

Goodwin Gaw

Goodwin Gaw, founder and chairman of Gaw Capital Partners

The market weakness, coupled with higher interest rates, creates a challenging formula for the Hengl-Gaw joint venture, which had financed the Cityplaza acquisition with a loan set up to be paid via rental income from the building, according to the Bloomberg report.

With rental income now falling short of the loan obligation on the property, Hengli has failed to cover its portion of the shortfall, helping to set up the auction event. Gaw Capital representatives declined to comment on the situation.

An auction of the property would value it at current market rates for office assets, which have fallen 30 percent since the time that Gaw and Hengli acquired the property in 2018, according to  Alex Leung, chief surveyor at Hong Kong-based CHFT Advisory and Appraisal.

Leung pointed to the Quarry Bay area as among Hong Kong’s most stable office submarkets and highlighted the HK$5.4 billion purchase of a set of 12 office floors in Swire Properties One Island East in November as underpinning confidence in the location.

“Whilst Swire remains the main landlord in Quarry Bay, the office rents in the area are more stable, and the office price therefore should drop the least among various Grade A office areas,” Leung said. “Furthermore, the acquisition of 12 office floors of One Island East by SFC provided some supports to the office price in Quarry Bay area.”

Standing 21-storeys tall, Cityplaza Three spans a gross floor area of around 448,000 square feet, while the adjoining Cityplaza Four, built in 1993, offers 556,000 square feet of office space. The joint venture has full ownership of Cityplaza Four, while ten floors in Cityplaza Three are owned by the Hong Kong government.

Hengli originally agreed to purchase the project on its own, but later turned to Gaw as a partner as Hong Kong’s office market began to show signs of weakness in 2018 and banks grew shy about lending.

At the time of the acquisition, Gaw had a 49 percent stake in the joint venture, according to a statement by Swire Properties at the time of the acquisition, with that stake since having expanded.

Extend and Pretend Nears the End

Gaw’s expected takeover of Cityplaza comes as landlords continue to struggle with office occupiers downsizing their requirements in the city.

A survey published last month by property consultancy Colliers shows that 27 percent of companies polled are looking to downsize their office footprints, up from 21 percent a year earlier.

“Challenging macroeconomic and geopolitical environments are causing businesses in Hong Kong to stay cautious about their business outlook, and in general are seeking ways to streamline their operating costs, including re-evaluation of their office rental and use of office space,” Fiona Ngan, Colliers’ head of occupier services for Hong Kong said in a statement.

While Hong Kong lenders have shown forbearance in collecting on overdue loans as the commercial property market has slid for the past four years, recent transactions show that more asset owners may be forced to sell as banks call in loans.

In April, Hong Kong-listed builder Lai Sun Development agreed to sell its 10 percent stake in the AIA Central office building in Hong Kong’s Central district to AIA Group in return for HK$1.4 billion in cash, plus assumption of debt, after losing HK$1.9 billion in the second half of last year.

That deal came after investor Francis Law Sau-fai in January sold a retail podium in Hong Kong’s Kwai Fong area to a real estate arm of state-owned China Resources Group for HK$310 million in a deal which took 31 percent of the asking price when the asset had been put on the market a year earlier.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/finance/gaw-positioned-to-take-full-ownership-of-hong-kong-office-complex-as-partner-falters/

Tags: OwnershipPositionedtechnology
Previous Post

University Buys Hong Kong Hotel for $128M as Mainland Enrollment Surges

Next Post

Governance and Compliance: Aligning Zero Trust with Business Requirements

PFAS in East Selah drinking water – Washington State Department of Ecology (.gov)

Alarming PFAS Contamination Discovered in East Selah Drinking Water

October 1, 2025
Science Expo – Northern Public Radio

Discover the Wonders of Science at the Exciting Expo!

October 1, 2025
Science and artificial intelligence could help personalize brain stimulation for smokers – News-Medical

How Science and AI Are Transforming Personalized Brain Stimulation to Help Smokers Quit

October 1, 2025
Review: What’s good at new prime-cuts steakhouse in Virginia Beach – Yahoo

Review: What’s good at new prime-cuts steakhouse in Virginia Beach – Yahoo

October 1, 2025
STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

October 1, 2025
Sports Illustrated’s Men’s College Basketball Preseason Top 25 – Sports Illustrated

Sports Illustrated’s Men’s College Basketball Preseason Top 25 – Sports Illustrated

October 1, 2025
Milan Fashion Week Asks the Question: Is It the Best-Dressed City in The World? – The New York Times

Milan Fashion Week Asks the Question: Is It the Best-Dressed City in The World? – The New York Times

October 1, 2025
How a government shutdown would impact the economy – CBS News

How a Government Shutdown Could Impact the Economy

October 1, 2025
Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

October 1, 2025

Teresa Nicholson Celebrated as Pardee Hospital’s Teammate of the Year

September 30, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (845)
  • Economy (865)
  • Entertainment (21,740)
  • General (17,342)
  • Health (9,909)
  • Lifestyle (879)
  • News (22,149)
  • People (868)
  • Politics (876)
  • Science (16,076)
  • Sports (21,366)
  • Technology (15,849)
  • World (848)

Recent News

PFAS in East Selah drinking water – Washington State Department of Ecology (.gov)

Alarming PFAS Contamination Discovered in East Selah Drinking Water

October 1, 2025
Science Expo – Northern Public Radio

Discover the Wonders of Science at the Exciting Expo!

October 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version