* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, June 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

    Traveling Tacos and Tequila Festival to stop at Florence Yall’s stadium this October – Cincinnati Enquirer

    Get Ready for a Flavor Fiesta: Traveling Tacos and Tequila Festival Hits Florence Y’all’s Stadium This October!

    9 things to do this weekend in Lake County plus a look ahead – Leesburg Daily Commercial

    Discover 9 Exciting Weekend Adventures in Lake County and What’s Coming Up!

    Shows to Watch – The Advocate

    Must-See Shows You Can’t Miss!

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

  • 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
    Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

    Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

    U.S. FDA Grants Platform Technology Designation to the Viral Vector Used in SRP-9003, Sarepta’s Investigational Gene Therapy for the Treatment of Limb Girdle Muscular Dystrophy Type 2E/R4 – Sarepta Therapeutics

    Breakthrough for Gene Therapy: FDA Designates Viral Vector in Sarepta’s SRP-9003 for Limb Girdle Muscular Dystrophy Treatment

    Waunakee Fifth-Graders Dive into the Future at Exciting Tech Day!

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

    UBS Analyst Predicts Surge in Micron Technology Stock Price!

    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

    Traveling Tacos and Tequila Festival to stop at Florence Yall’s stadium this October – Cincinnati Enquirer

    Get Ready for a Flavor Fiesta: Traveling Tacos and Tequila Festival Hits Florence Y’all’s Stadium This October!

    9 things to do this weekend in Lake County plus a look ahead – Leesburg Daily Commercial

    Discover 9 Exciting Weekend Adventures in Lake County and What’s Coming Up!

    Shows to Watch – The Advocate

    Must-See Shows You Can’t Miss!

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

  • 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
    Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

    Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

    U.S. FDA Grants Platform Technology Designation to the Viral Vector Used in SRP-9003, Sarepta’s Investigational Gene Therapy for the Treatment of Limb Girdle Muscular Dystrophy Type 2E/R4 – Sarepta Therapeutics

    Breakthrough for Gene Therapy: FDA Designates Viral Vector in Sarepta’s SRP-9003 for Limb Girdle Muscular Dystrophy Treatment

    Waunakee Fifth-Graders Dive into the Future at Exciting Tech Day!

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

    UBS Analyst Predicts Surge in Micron Technology Stock Price!

    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    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

Hong Kong’s Hanison Marketing Sheung Wan Serviced Apartments After Value Fell by a Third

July 15, 2024
in Technology
Hong Kong’s Hanison Marketing Sheung Wan Serviced Apartments After Value Fell by a Third
Share on FacebookShare on Twitter

The Mercer in Sheung Wan

Hong Kong-based builder Hanison Construction Holdings has put up for sale a 55-unit serviced apartment building in the city’s Sheung Wan district, as the firm controlled by the Cha family behind local developer HKR International seeks to boost its liquidity.

The HKEX-listed developer and construction firm has appointed JLL to market The Mercer, with market sources estimating the property to be worth from approximately HK$380 million to HK$500 million ($49 million to $64 million), which represents a 49 percent to 33 percent markdown from the HK$741 million price Hanison paid to acquire the property from Singaporean property giant CapitaLand nearly five years ago.

Hanison is putting the asset on the block after two consecutive years of losses, while rental residential continues to be one of the few sectors generating investor activity in Hong Kong during 2024.

Vacant Possession

Located a 2-minute walk from the Sheung Wan MTR station at 29 Jervois Street, the 37,933 square foot (3,524 square metre) property features studio and 1-bedroom units measuring between 400 square feet and 600 square feet, and is being sold with vacant possession.

Hanison Construction chairman Johnson Cha

Hanison completed renovations on the 28-storey property in 2021, two years after the company purchased the asset (then known as the Citadines Mercer) from CapitaLand for just under HK$13.5 million per room. Analysts were unable to explain why the property stands vacant three years after renovations were completed.

Hanison, which favours value-add investment strategies, is marketing the property after having booked a HK$216 million loss in the fiscal year ended March, which followed a HK$38 million loss a year earlier. Hanison representatives had not responded to inquiries from Mingtiandi by the time of publication.

The company attributed the loss to fair value markdowns on investment properties and write-down of properties under development for sale, along with higher interest costs. As of March, Hanison had HK$1.9 billion of bank loans due within a year, of which HK$700 million was subsequently extended to a maturity date of June 2026.

In addition to The Mercer, Hanison owns several hospitality assets on Hong Kong Island, including the 48-room Hollywood Hill serviced apartment at 222 Hollywood Road in Sheung Wan and a capsule hotel at 31 Wing Wo Street in the same district, as well as a 50 percent stake in The Connaught, a 48-unit serviced apartment in Sai Ying Pun. The builder’s investment property portfolio also includes the PeakCastle office building in Cheung Sha Wan.

The company offloaded several assets in recent years, including disposing of units in an industrial building and a logistics asset in the Chai Wan area, an industrial property in Kowloon East, as well as several units at the Shatin Industrial Centre. In December, Hanison sold shops and loading bays in the West Park residential project in Sham Shui Po.

Rental Residential in Vogue

With figures from JLL showing transactions of commercial properties in Hong Kong slid 25.6 percent during the first half of the year from the second half of 2023 to hit a post-pandemic low of HK$13.2 billion, rental residential assets have become one of the few property classes welcomed by buyers.

Last month, Hong Kong Metropolitan University acquired the 255-key Urbanwood hotel in Kowloon’s Hung Hom area from the Law family behind local developer Yu Tai Hing for use as student housing amid an influx of mainland Chinese students in the city. Market sources indicating the asset changed hands at a price of roughly HK$1 billion ($128 million).

Earlier this year, PGIM Real Estate teamed up with co-living provider Dash Living to buy The Sheung Wan, a 56-key hotel located a 3-minute walk from The Mercer, from Hong Kong-based boutique hotel and serviced apartment provider Ovolo Group for HK$320 million ($41 million).

In March 2023, US developer and investor Hines opened its first Hong Kong rental apartment project in East Tsim Sha Tsui. Also operated by Dash Living, the Dash on Prat co-living facility occupies the former Butterfly on Prat hotel which Hines had acquired in November 2021 through a joint venture with local investment firm Mindworks Ventures, which also backs Dash.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/finance/hanison-marketing-the-mercer-serviced-apartment-in-sheung-wan/

Tags: HanisonKong’stechnology
Previous Post

SC Capital’s Japan Hotel REIT Seals $350M in Buys and More Asia Real Estate Headlines

Next Post

Singapore Home Sales Climb 2.2% After May Plunge as Buyers Weigh Options

Drought expanded to 19 more watersheds – Washington State Department of Ecology (.gov)

Severe Drought Worsens: 19 Additional Watersheds Affected!

June 7, 2025
CULT Food Science Closes Debt Settlement – TradingView

CULT Food Science Closes Debt Settlement – TradingView

June 7, 2025
Harmony Public Schools’ science-focused campus to open soon at City Place – Community Impact

Harmony Public Schools’ science-focused campus to open soon at City Place – Community Impact

June 7, 2025
Ladies Lifestyle Network cuts ribbon – haysfreepress.com

Ladies Lifestyle Network cuts ribbon – haysfreepress.com

June 7, 2025
Watch fans celebrate as Uzbekistan secures debut World Cup qualification – CNN

Watch fans celebrate as Uzbekistan secures debut World Cup qualification – CNN

June 7, 2025
Dollar advances against peers after strong US economic data – Reuters

Dollar advances against peers after strong US economic data – Reuters

June 7, 2025
Entertainment lineup released for 2025 Mississippi State Fair – WAPT

Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

June 7, 2025
Water-cleaning bacteria can produce health, economic benefits – ASU News

Revolutionary Water-Cleaning Bacteria: Unlocking Health and Economic Benefits!

June 7, 2025
The end of the affair? – The Economist

Is This the Final Chapter of Their Love Story

June 7, 2025
Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

June 7, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
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 (673)
  • Economy (687)
  • Entertainment (21,593)
  • General (15,267)
  • Health (9,728)
  • Lifestyle (690)
  • News (22,149)
  • People (688)
  • Politics (694)
  • Science (15,905)
  • Sports (21,190)
  • Technology (15,672)
  • World (672)

Recent News

Drought expanded to 19 more watersheds – Washington State Department of Ecology (.gov)

Severe Drought Worsens: 19 Additional Watersheds Affected!

June 7, 2025
CULT Food Science Closes Debt Settlement – TradingView

CULT Food Science Closes Debt Settlement – TradingView

June 7, 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