Commentary: The Fed Is making Hong Kong’s billionaire landlords anxious

Quick Summary:

Property tycoons are eager for bigger and faster US rate cuts to facilitate refinancing and avoid fire sales, says Shuli Ren for Bloomberg Opinion.

Consider The Center, an office tower in the Central business district that billionaire Li Ka-shing sold for US$5.2 billion in 2017.

Office vacancy rates have soared to 15 per cent in Central, up from just 2 per cent in 2017, when Li notched the record deal.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong Kong

Topics: Negative Tycoons Sales Financing Cent Office Property Rate Kong’s Hong Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-15 @ 06:00:00 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 577 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22508926

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 days ago

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News Language: English

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Publisher ID: #27

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