〈The Standard, May 31, 2025〉Donald Choi Wun-hing will take over as managing director of the Urban Renewal Authority (URA) starting June 15, succeeding Wai Chi-sing upon his upcoming retirement, the government announced today.
The chief executive has appointed Choi, who has over 40 years of experience as an architect and property developer, as the head of the statutory body for a three-year term, on the recommendation of a selection panel.
〈Hong Kong Business, May 23, 2025〉Vacancy rates for data centres in Hong Kong SAR, currently above 20%, are expected to decrease as the upcoming pipeline is 80% or above pre-committed, according to CBRE’s research report.
The near-term pipeline will predominantly come from the retrofitting or redevelopment of existing industrial facilities.
In the longer term, a 10-hectare site in the Northern Metropolis, with a potential gross floor area of 2.7 million sq. ft., is planned for development, with rezoning efforts starting in late 2024.
〈Asian Post, May 30, 2025〉Hong Kong property market continued its decline into the first quarter of 2025, with residential, office, and retail sectors all showing signs of weakening demand and falling values, according to the latest government data.
Residential property prices across all size categories fell further in early 2025. The average price index for private domestic units dropped to 284.2, down from 298.7 in 2024. Rents remained more stable, but the rental index edged down to 193.3 in March 2025.
Even popular housing estates weren’t spared. Price indices for selected developments dipped below 245, reflecting shrinking buyer confidence.
〈Hong Kong Business, May 29, 2025〉The Lands Department has issued six pre-sale consents for residential and non-residential developments in the first quarter of this year.
Of the six, five were for residential projects, totaling 2,749 residential units. Among these, three developments are slated for completion next year. These include a phase in Chai Wan with 592 units, another in Tin Shui Wai with 525 units, and a project in Sha Tin consisting of 240 units. Two other projects, a 748-unit development in Yau Tong and a 644-unit development in Fanling, are expected to be completed in 2027.
〈RTHK, May 28, 2025〉The purchasing managers' index (PMI) for China's manufacturing sector came in at 49.5 in May, up 0.5 percentage points from April, official data showed on Saturday.
The non-manufacturing PMI, which includes services and construction, fell to 50.3 from 50.4, remaining above the 50-mark separating growth from contraction.
The new orders sub-index rose to 49.8 from 49.2 in April, while the new export orders sub-index rose to 47.5 from 44.7.
