小摩：阿里巴巴-W 及蚂蚁集团向文华东方购港岛壹号中心 有助稳定香港写字楼资本化率
JP Morgan released a research report stating that Hong Kong recently recorded the largest office building sale in recent years, with the Mandarin Oriental Hotel selling the top 13 floors of One Island East for HKD 7.2 billion to Alibaba-W and ANT GROUP. The bank assumes a monthly rent of HKD 65 per square foot for the property and estimates its capitalization rate at 3.3%, which is close to the average capitalization rate in Wan Chai or Causeway Bay. Morgan Stanley believes that this large transaction will help stabilize the capitalization rate of Hong Kong office buildings and reduce commercial real estate risks to some extent. However, Morgan Stanley noted that this transaction will impact Wharf Real Estate Investment Company, as Alibaba's lease at Times Square is set to expire in 2028, at which point the company is likely to move out. Morgan Stanley also believes that more leading companies from the mainland may be interested in purchasing office properties in Hong Kong as their regional or non-mainland headquarters. The bank believes that the stabilization of Hong Kong's office capitalization rate will benefit Hongkong Land and Swire Properties, the two major developers operating office leasing
According to the Zhitong Finance APP, JP Morgan has released a research report stating that Hong Kong recently recorded the largest office building sale in recent years. The Mandarin Oriental Hotel has just sold the top 13 floors of One Island Center for HKD 7.2 billion to Alibaba-W (09988) and ANT GROUP. The bank assumes a monthly rent of HKD 65 per square foot for the property, estimating its capitalization rate at 3.3%, which is close to the average capitalization rate in the Wan Chai or Causeway Bay areas.
Morgan Stanley believes that this large transaction will help stabilize the capitalization rate of Hong Kong office buildings and reduce commercial real estate risks to some extent. However, Morgan Stanley stated that this transaction will impact Wharf Real Estate Investment Company (01997), as Alibaba's lease at Times Square is set to expire in 2028, at which point the company is likely to move out.
Morgan Stanley also believes that more leading companies from the mainland may be interested in purchasing office properties in Hong Kong as their regional or non-mainland headquarters. The bank believes that the stabilization of Hong Kong's office capitalization rate will benefit Hongkong Land and Swire Properties (01972), the two major developers operating office leasing
