Media OutReach
Cushman & Wakefield responses to the Budget 2025/26
Response to the Budget 2025/2026 by KK Chiu, International Director, Chief Executive, Greater China of Cushman & Wakefield:
Large-scale land disposal for Northern Metropolis
We are pleased to see the government continue to facilitate the development of the Northern Metropolis (NM) and optimize the industrial and spatial layout. We believe that
the “large-scale land disposal” model can accelerate the completion of residential, industrial, and public facilities. The Development Bureau estimates that the engineering costs for each district will be from HK$10 billion to HK$20 billion. Compared to traditional models, the “large-scale land disposal” model can save more than HK$1 billion in public funds.
Historically, construction costs in Hong Kong are two to three times higher than in neighbouring locations such as Shenzhen. We recommend that the government can reduce costs by introducing foreign labor, similar to the approach taken by the Singaporean government, and to plan effective transportation. connections to enhance investor confidence and attract more developers for sustainable growth.
Compared to traditional land sale models, the large-scale land disposal model features a larger scale, longer development period, and extended payback time. This approach shifts high upfront costs and risks to developers, testing their financial sustainability and capacity to manage these burdens. However, during land levelling, developers can also plan and design, which compresses project timelines and increases their autonomy in design and construction. This flexibility enables them to respond effectively to market demands and create diverse residential or commercial projects.
We recommend that the government effectively plan and utilize transportation facilities in new development areas and those connecting to external regions, such as the Shenzhen Bay Bridge and the planned Hong Kong-Shenzhen Western Railway. Enhancing transportation connectivity will improve convenience, boost investor confidence, attract more developers, and ensure the district’s sustainability.
The government’s plan to prepare land for approximately 80,000 private housing units over the next five years
We are pleased to see the proactive efforts by the government to stabilize future private housing supply. However, since more than 65% of the new land will come from new development areas, such as the Northern Metropolis and Tung Chung, it is crucial to prioritize infrastructure development.
We recommend the government to ensure that infrastructure facilities are in place in these areas before the residential projects are completed, to avoid inconvenience for residents upon moving in.
Response to the Budget 2025/2026 by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:
Development of artificial intelligence (AI) and data facility cluster at Sandy Ridge
We urge the government to announce the development details of the data facility cluster at Sandy Ridge as soon as possible, simplify the land approval process, and offer favorable terms to attract developers and data center operators to set up operations in the area.
Rezoning Some Commercial Sites
We are pleased to see the government temporarily suspend the sale of commercial land parcels, allowing the market to gradually absorb current vacant space and new projects under construction. We suggest that the government regularly review market conditions for a well-timed restart to the sale of commercial land parcels.
Response to the Budget 2025/2026 by KB Wong, Executive Director, Head of Valuation and Advisory Services, Hong Kong of Cushman & Wakefield:
Response to the Budget 2025/2026 by Rosanna Tang, Executive Director, Head of Research, Hong Kong of Cushman & Wakefield:
We are pleased to see the government’s emphasis on attracting high-caliber talent and students, and that initiatives such as the Northern Metropolis University Town and the Belt and Road Scholarship will play a crucial role in attracting diverse global talent and students to Hong Kong in the long term. This influx will bolster demand in the local rental apartment sector and stimulate growth in the residential leasing market.
However, there is currently a significant shortage of student accommodation in the market. Our latest estimates indicate that, on average, three university students are competing for a single bed across Hong Kong, with projected future demand for student beds potentially exceeding 50,000. This shortage has led some students who are unable to secure dormitory housing to seek alternative arrangements in private residential units.
Therefore, we welcome the government’s consideration of rezoning certain commercial sites for residential use. Additionally, we recommend that the government consider permitting the conversion of existing suitable commercial buildings and hotels into student accommodation, and to advocate for the removal of barriers and relaxation of restrictions in the approval process, thereby providing greater flexibility in land use. We anticipate that these measures will increase housing options, alleviate rental pressures, and effectively address the challenges associated with the student bed supply and demand situation.
Response to the Budget 2025/2026 by Edgar Lai, Senior Director, Valuation and Consultancy Services, Hong Kong, Cushman & Wakefield:
We applaud the government’s decision to raise the maximum value of properties chargeable to stamp duty of $100 from HK$3 million to HK$4 million. This adjustment should attract a larger pool of buyers and investors to the market, consequently expediting transactions for small and medium-sized properties. As per data from the Land Registry, in 2024, there were 7,623 residential transactions valued between HK$3 million and HK$4 million, constituting approximately 14% of total residential transactions. We anticipate that this modification will invigorate the property exchange chain, surpassing the government’s estimated 15% and potentially reaching 20% in the number of property transactions benefiting from this initiative.
Response to the Budget 2025/2026 by Tom Ko, Executive Director, Head of Capital Markets, Hong Kong of Cushman & Wakefield:
The Government has stated that it will introduce a series of optimization measures under the “New Capital Investment Entrant Scheme.” We look forward to the Government announcing the details as soon as possible.
We urge the government to lower the investment threshold for residential properties to HKD10 million and to remove the cap on property investments. This will attract small and medium-sized investors, enhancing Hong Kong’s competitiveness as an international financial center and drawing more talent and capital.
Click here for high-res pictures
Hashtag: #CushmanandWakefield
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Media OutReach
Industry expert Jason Gerlis has been appointed as the Chief Revenue Officer at GoGlobal
With more than 15 years’ experience in helping businesses to scale internationally, his role will be to drive revenue growth at GoGlobal, align this to delivery excellence and add long-term value to those companies looking to expand and operate overseas.
“I’m delighted to welcome Jason into the fold,” states Jeremy Wastall, CEO at GoGlobal. “His extensive industry knowledge and global corporate services background support our strategy to deliver best‑in‑class business expansion and operational solutions to clients looking to enter new markets compliantly, and at speed.”
His appointment is also in-line with the company’s aim to build a business where cultural fit and mindset are just as important as experience.
“Alongside his impressive experience, Jason’s approach to leadership aligns with our brand values. I have full confidence in his ability to create a world-class environment where his teams will grow and excel,” adds Jeremy.
The move follows a series of recent senior hires and strategic investments designed to enhance GoGlobal’s ambitious growth plans, which include greater geographic reach, deeper technology capabilities and the continued development of market-winning solutions for clients.
Independence and long‑term focus
Explaining what drew him to GoGlobal, Jason points to the company’s independence and investment strategy.
“GoGlobal’s independence is a real strength,” he states. “It gives the business the freedom to invest in what genuinely matters to clients and focus on building sustainable, future growth. That long‑term perspective leads to better client outcomes, stronger partnerships and a more engaged, motivated workforce.”
Jason also highlights the company’s culture which is deeply grounded in servicing clients’ needs as a reason to join the business. He notes: “Understanding, consistency, collaboration and responsiveness are at the foundation of GoGlobal’s approach to client service, all of which resonate with me.
“And it’s these values and business ethics that truly set GoGlobal apart,” he concludes.
Strengthening global networks
Based in Charlotte, USA, Jason will spend his first months in the role engaging closely with GoGlobal’s global clients and partner ecosystem, while helping shape the company’s long‑term commercial strategy.
“I’m excited to work with clients across the full spectrum — from fast‑growing start‑ups and venture / private equity‑backed businesses to large multinationals — as we continue to build GoGlobal’s future roadmap,” he states.
Prior to joining GoGlobal, Jason spent five years as Global Head of Corporate Services at Ocorian and held several senior leadership roles at TMF Group over seven years, including Global Head of Consulting and Regional Director for North America and the Caribbean.
Hashtag: #GoGlobal
https://goglobal.com/
https://www.linkedin.com/company/goglobalgeo/
Wechat: GoGlobal环瑀
The issuer is solely responsible for the content of this announcement.
GoGlobal
GoGlobal – the global expansion business – helps companies set up and manage global operations compliantly and confidently. By combining global expertise with local execution, GoGlobal supports market entry, M&A activity and vendor consolidation through a single point of accountability.
Founded eight years ago in 2018, GoGlobal has grown from a startup into a fully decentralized global organization, supporting thousands of clients with their own growth stories.
It now has over 450 internal employees, operating across 85+ countries, and has enabled more than 1,000 clients to establish and manage their global operations across 145 markets.
Services include entity setup, compliance and management; accounting and tax services; HR and payroll support; Employer of Record (EOR); and Independent Contractor Solutions (ICS).
GoGlobal is headquartered in Tokyo but the leadership and operational teams are worldwide, enabling seamless support across time zones.
Media OutReach
Korean Liquor (K-SUUL), Raises Its First Flag for Globalization on Asia’s Largest Stage
“K-SUUL Pavilion” to Open for the First Time at the HKCEC on May 26-28
HONG KONG SAR – Media OutReach Newswire – 10 June 2026 – The National Tax Service of Korea (Commissioner: Lim Kwang-hyun), for the first time, opened the “K-SUUL Pavilion” at Vinexpo Asia[1], which was held for three days from May 26 to 28 at the Hong Kong Convention and Exhibition Centre (HKCEC).
The opening of the “K-SUUL Pavilion” was served as a key milestone in raising the global profile of Korean alcoholic beverages and expanding overseas exports.
At the inaugural “K-SUUL AWARDS” held by National Tax Service of Korea last December, 175 small and medium-sized liquor producers from across Korea submitted a total of 366 products. Following document screening and blind testing, 12 products were selected.
The award-winning liquors, selected through a fair judging process with the participation of Korean citizens, was introduced to the global market through this exhibition, marking their first step toward overseas expansion.
The “K-SUUL Pavilion” was operated through cooperation between the National Tax Service of Korea and the liquor industry and association (the Korea Alcohol and Liquor Industry Association). It was designed as an integrated promotional platform to strengthen the export competitiveness of Korean alcoholic beverages and develop overseas sales channels.
The “K-SUUL Pavilion” was operated with a total of 16 booths (display and tasting booths), and 12 companies — including winners of the K-SUUL AWARDS — participated to hold consultations with overseas buyers.
Participating companies ranged from traditional liquor breweries to regional soju producers and major liquor companies, showcasing the diverse spectrum of Korea’s alcoholic beverage industry on a single stage.
In addition to the booths operated by the 12 participating companies, a dedicated booth was set up exclusively to showcase the award-winning liquors, further highlighting the significance of the K-SUUL AWARDS.
At the venue, promotional videos of the award-winning liquors were screened, while English-language brochures and souvenirs were distributed to attract local buyers and visitors to raise awareness of Korean alcoholic beverages.
In addition, meetings with the organizers of Vinexpo Asia, overseas buyers, and distribution industry officials were also held to identify rapidly changing global liquor market trends and assess the overseas expansion potential of Korean alcoholic beverages.
Han Yeong-seok Fermentation Research Institute expressed gratitude for being given the opportunity to participate in the exhibition, saying, “It was meaningful to showcase our award-winning liquor, ‘Dohan Cheongmyeongju,’ on the same stage as liquors from around the world through this exhibition. We did our best to promote Korea’s unique fermentation culture and the value of Korean liquor to the world.”
Going forward, the National Tax Service of Korea will continue to enhance the substance of the K-SUUL AWARDS, continuously discover outstanding liquors from promising small and medium-sized enterprises, and will actively support the globalization of Korean liquor (K-SUUL) by promoting it both domestically and internationally and helping these businesses expand their sales channels.
Hashtag: #K-SUUL
The issuer is solely responsible for the content of this announcement.
Media OutReach
YesAsia Holdings Advances Dual-Engine Strategy with First YesStyle Concept Store in the US
Driving O2O Synergy: Expanding Offline Reach to Complement B2C Strategy
Celebrating 20 years of delivering trending Asian products worldwide, YesStyle has transformed 1,500 square feet into an immersive retail fantasy. Serving as a strategic extension of the Group’s core B2C business, this new physical footprint enhances offline visibility and reaches a wider demographic of consumers who value hands-on product discovery and immediate purchase. The store offers a “Yesful playground” where beauty lovers can connect with over 60 Asian brands, featuring interactive makeup stations with beloved K-beauty labels like UNLEASHIA, dasique, fwee, and rom&nd, alongside a customizable mask bar. This experiential retail environment functions as a powerful, culturally rich marketing engine, generating offline brand awareness and foot traffic that seamlessly feeds into the digital platform, creating a complementary offline-to-online (O2O) loop that supports repeat purchases and maximizes customer lifetime value (LTV).
Mr. Joshua Lau, Founder, Executive Director and Chief Executive Officer of YesAsia Holdings said: “The launch of YesStyle‘s retail store marks a significant milestone for our brand, as we bring our top-tier and bestselling K-beauty products, along with advanced skin care innovation, into an offline setting for customers in the Bay Area. The Bay Area holds a special place in our history as the city where the Group was founded and where our first office was established. Opening our first YesStyle beauty retail store here feels like coming home and reinforces our commitment to continue innovating and delivering exceptional experiences to our customers, both online and offline.”
Empowering the B2B Wholesale Business AsiaBeautyWholesale (ABW) Growth
This physical retail expansion also creates substantial value for YesAsia Holdings’ B2B operations, ABW. By physically showcasing a curated yet expansive selection of bestselling Korean beauty brands, including SKIN1004, Medicube, Anua, Dr. Althea, Beauty of Joseon, COSRX, and more, in a premium US retail environment, YesStyle acts as an effective market-testing ground. The elevated brand awareness and consumer validation generated at the retail level will bolster confidence among other local US retailers and distributors, effectively catalyzing B2B orders and driving synergistic growth across both of the Group’s core business modules.
Hashtag: #YesAsia #YesStyle
The issuer is solely responsible for the content of this announcement.
About YesAsia Holdings Limited (02209.HK)
Established in 1997, YesAsia Holdings is a leading e-commerce platform operator recognized for its expertise in identifying and procuring quality Asian beauty, fashion, lifestyle and entertainment products. Headquartered in Hong Kong, the Group deliver products promptly and efficiently to a global audience through its strong ties with over 400 leading Asian beauty brand and supplier partners. The Group operates three major platforms: YesStyle, an e-commerce B2C platform for serving the increasingly popular Asian beauty, fashion and lifestyle products, particularly Korean beauty products; AsianBeautyWholesale, a B2B platform for Asian beauty products; and YesAsia, an e-commerce retail platform for entertainment products. YesAsia Holdings is a constituent of the MSCI Hong Kong Micro Cap Index.
For more information, please visit the Group’s official website: https://www.yesasiaholdings.com/
About YesStyle
YesStyle, a global B2C online retailer under YesAsia Holdings Limited. (02209.HK), is the go-to destination for the largest selection of authentic Asian beauty, fashion, and lifestyle products. As an authorized retailer of 400+ premium K-beauty brands, YesStyle aims to help everyone find their ‘yes!’ through innovative beauty inspired by Asia, friendly guidance and smart prices since 2006.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn