Southeast Asian firms such as Singaporean bank DBS (SGX:D05) and Philippine fast food giant Jollibee (PSE:JFC) are among those helping prop up Hong Kong's property market, the South China Morning Post reported Monday.
DBS purchased HK$1.35 billion for two floors in the Center in Hong Kong's Central district in August 2024, while Jollibee bought two industrial buildings from New World Development (HKG:0017) in November 2024 for HK$980 million, the report said.
In the first quarter, Southeast Asian firms contributed HK$1.36 billion, four times higher than their year-ago spending, the report said, citing Colliers.
ASEAN firms contributed 22% of the HK$6.28 billion property investment during the period, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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