Property investment, management and development group Hongkong Land Holdings said that its commercial property leasing markets in Singapore and Hong Kong remained favourable.
HK Land’s Interim Management Statement indicated that the company’s vacancy rate in its retail portfolio in Hong Kong continued to enjoy 100 percent vacancy rate, while its office property stood at 4 percent as of October 31.
Meanwhile, The Serenade residential development in Hong Kong has been completed, with 34 percent of the 97 units already sold.
In Singapore, One Raffles Quay and One Raffles Link are now fully let, while Phase One of Marina Bay Financial Centre, which it owns a 33 percent stake in, was recently completed and is now fully leased.
Tower 4 of the One Central development in Macau, which is 47 percent held, was completed in October and is now fully sold.
In mainland China, the company increased its interest in three residential projects in Shenyang, from the current 30 percent up to 50 percent. However, the contribution from residential project activities is expected to be lower in the second half of the year due to the timing of completions.