Savills News

Savills Hong Kong leads the market with HK$25 billion real estate transactions in 2019

Hong Kong – 07 May 2019 Prominent real estate advisor Savills is pleased to announce that it has concluded HK$25 billion real estate deals since January 2019. In 2018, the Hong Kong investment team hit a record HK$80 billion transaction volume and was ranked No. 1 overall broker in Hong Kong by Real Capital Analytics (RCA) for the year 2018 – 2019; while Savills Hong Kong took home four Royal Institution of Chartered Surveyors (RICS) Hong Kong Awards in 2019.

• Concluded the largest office transaction in Hong Kong in 2019 (introduction of majority shareholder with approx. HK$15 billion total transaction)
• Advised on a record HK$80 billion in real estate deals across all sectors in 2018
• Leads the market as No. 1 overall broker in Hong Kong and heavyweight awards winner

Hong Kong – 07 May 2019 Prominent real estate advisor Savills is pleased to announce that it has concluded HK$25 billion real estate deals since January 2019. In 2018, the Hong Kong investment team hit a record HK$80 billion transaction volume and was ranked No. 1 overall broker in Hong Kong by Real Capital Analytics (RCA) for the year 2018 – 2019; while Savills Hong Kong took home four Royal Institution of Chartered Surveyors (RICS) Hong Kong Awards in 2019.

Savills investment team remains a market leader across many asset classes including offices, residential properties and land sites. Major deals in 2019 include Cityplaza Three & Four (introduction of majority shareholder with approx. HK$15 billion total transaction; the largest office transaction in Hong Kong in 2019), a prime en-bloc commercial building located at 69 Jervois Street in Sheung Wan (approx. HK$1.9 billion), 2-16 Mount Parker Road (approx. HK$1.85 billion) and 21/F-23/F of Convention Plaza Office Tower, Wanchai (approx. HK$1.8 billion).

The most significant deal we brokered was Cityplaza Three & Four. Savills assisted Hengli Investments Holding (Group) Ltd. (“Hengli Group”) and real estate private equity firm Gaw Capital Partners, through a fund under its management to close the acquisition of portions of Cityplaza Three (including 10 high zone office floors and commercial areas) and Cityplaza Four from Swire Properties on April 11, 2019 for HK$15 billion (a combined GFA of around 775,000 sq. ft.; average price of around HK$19,350 per sq. ft.). Located in the growing business centre of Taikoo Shing in Hong Kong’s Eastern District, the two 22-storey Grade-A office towers enjoy views over Victoria Harbour with direct walkways connecting to Tai Koo MTR station and Cityplaza shopping mall. With the recent opening of the Central-Wan Chai Bypass, the towers also provide quick and convenient access to Central business district and are attracting a new wave of tenants.

Raymond Lee, CEO, Savills Greater China remarked: “Our success doesn’t originate from a person, but a team; and not just from repeat local clients, but diverse clients from local and international markets. We are delighted by our achievements this year and would like to take this opportunity to thank all our clients for their trust and support. Furthermore, we would also like to thank the relevant industry authorities for their award recognition.”

Peter Yuen, Managing Director, Head of Investment & Sales said: “In the face of improving economic conditions and more positive sentiment, we are seeing a strong influx of capital into the territory. Savills investment team strives to provide our clients with the most suitable investment opportunities and tailor-made services.”

Savills Hong Kong achieved a record of HK$80 billion in real estate deals across all sectors in 2018 - including Octa Tower (approx. HK$7.5 billion), 39 Shouson Hill Road (approx. HK$5.9 billion) and Provident Arcade (approx. HK$2 billion).

In March 2019, Savills took home four Royal Institution of Chartered Surveyors (RICS) Hong Kong Awards including Winner, Property Management Team of the Year, Certificate of Excellence, Best Deal of The Year, Certificate of Excellence, Residential Team of the Year and Certificate of Excellence, Facilities Management Team of the Year.

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