Amazon and Shorea Capital close commercial property deals
Foreign investors continue to actively purchase commercial real estate in Hong Kong. Recent deals include acquisitions by an Amazon subsidiary and Singapore-based Shorea Capital.
Yulduz Salimov1 min read
Foreign investors continue to actively purchase commercial real estate in Hong Kong. Recent buyers include a subsidiary of internet retailer Amazon and Singapore-based investment firm Shorea Capital, reports agency Colliers.
Shorea Capital won the tender for The Pemberton building — a mixed-use office and retail property in the Sheung Wan district. The transaction amount was not disclosed. Colliers acted as lead agent and broker in this transaction.
The property, with an area of 5,388 square metres, was last acquired by AEW Via HK 1 Limited for 344.34 million Hong Kong dollars (43.9 million US dollars) in 2010, according to land registry data.
According to Colliers, Shorea Capital plans to submit applications for the redevelopment of the 24-storey commercial building into quality housing.
Meanwhile, Amazon Data Services acquired two data centres in Fanling, highlighting technology companies' interest in infrastructure assets in the region.
The deals reflect sustained demand from Southeast Asian investors and international corporations for Hong Kong commercial real estate assets.
Source: scmp.com
