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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.
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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).
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From PolyU Research to Geneva Global Debut: GOOD Vision oka³y! ™ Redefines Precision in Freeform Orthokeratology
Beyond Traditional Toric Lenses: The Future of Freeform Orthokeratology
With myopia expected to affect 50% of the world’s population by 2050, demand for effective management is high. While Ortho-K is a highly effective strategy, traditional symmetric and spherical/ toric designs often underestimate corneal shape complexity, causing lens decentration and poor visual outcomes.
The oka³y!™ freeform technology, incorporating the company’s proprietary FAST-360 and CORe Technology, surpasses traditional lens design. AI-based FAST-360 reconstructs missing corneal data for faster scans, while CORe ensures precise alignment with the visual axis, leading to 3.1 times greater stability.
Precision Myopia Correction and Control for High Astigmatism and Asymmetric Corneas
For optometrists and clinic owners, oka³y!™’s key benefit is improving workflow by automating complex mathematics, cutting chair time by 64%. This boosts myopia management capacity without extra staff or lengthy training. “As a registered optometrist in Hong Kong and a researcher in one of the world’s leading optometric institutes, I witnessed a growing gap between the number of patients seeking Ortho-K and the limited range of conventional products available to treat them,” says Dr. Kin Ho Chan, Ken, the lead inventor of oka³y!™. “By focusing on the ‘3A’: AI-guided, Astigmatism, and Asymmetry, and working alongside The Hong Kong Polytechnic University (Poly U), we have developed a design that not only delivers superior vision but also enhances safety by reducing corneal staining. We are turning a frustrating, manual trial-and-error process into a predictable one-click adjustment.”
From Niche Specialty to Global Enterprise: Scaling the Future of Eye Care
As myopia rates reach epidemic levels, GOOD Vision partners with PolyU, harnessing its research strengths and support from its startup ecosystem PolyVentures, to redefine primary eye care by transforming a niche specialty into a scalable global enterprise. By replacing manual OK lens design with oka³y!™, the company has created a technology bridging clinical complexity and scalability. This transition enables practitioners to manage myopia, high astigmatism, and asymmetrical cases precisely, removing barriers to modern refractive error management.
“By embedding and automating the complex mathematics of lens design, we provide clinicians with the tools to treat ‘difficult’ patients who were previously considered unsuitable for Ortho-K,” added Professor Chea-su Kee, Founder of GOOD Vision. “This is about elevating the global standard of care and ensuring that precision myopia management is accessible to the next generation on a global scale.”
Experience the Future of Myopia Control
GOOD Vision invites investors, distributors, and practitioners to a live demonstration of the oka³y!™ at the International Exhibition of Inventions Geneva:
- Location: PolyU Delegation Booth, Hall 2, Palexpo, CP 112, Route François-Peyrot 30, 1218 Le Grand-Saconnex, Geneva, Switzerland
- Dates: 11–15 March 2026
Hashtag: #GOODVision
The issuer is solely responsible for the content of this announcement.
About GOOD Vision Technologies Co., Limited
GOOD Vision, a Hong Kong-based startup nurtured by PolyU, is dedicated to advancing the field of corneal reshaping technologies. With a focus on innovation, efficiency, and affordability, the company develops innovative solutions to empower eye practitioners and enhance the quality of eye care worldwide.
For additional details about GOOD Vision and their innovative offerings, please visit https://www.linkedin.com/company/goodvisiontech
Central Landmark Set for Revitalization with International Expertise
HONG KONG SAR – Media OutReach Newswire – 9 March 2026 – In a vote of confidence in Hong Kong’s vibrant and enduring business environment, Nexxus Building, a landmark Grade‑A commercial property in Central’s prestigious CBD, has been acquired by a leading figure in the technology sector. Trivium Asset Management (“Trivium”), an Asian real estate investment and asset management firm, has been appointed as Nexxus Building’s Asset Manager (“AMC” or Asset Management Company), taking charge of the asset’s comprehensive management and operations.
Under new ownership, Nexxus Building is set to undergo a forward‑looking transformation integrating next‑generation technologies with world‑class professional management. The revitalization aims to redefine the building’s market positioning, enhance its tenant experience, and reinforce its status as an iconic and premier Grade‑A property in the heart of Hong Kong’s CBD.
Leveraging Trivium’s extensive expertise, the enhancement programme will incorporate smart‑building management systems and sustainability‑driven upgrades designed to meet the evolving needs of global tenants. The reimagined Nexxus Building aims to attract financial institutions, fintech platforms, and technology enterprises, reaffirming Central’s position as Asia’s dynamic financial and innovation hub.
Mr. Wilfred Ma, Managing Partner of Trivium Asset Management, said, “Trivium is honored to be entrusted with the role of Asset Manager (“AMC” or Asset Management Company) for Nexxus Building, one of Hong Kong’s most iconic commercial landmarks. Drawing on our track record in real estate investment and operations across Hong Kong and Japan, we are committed to implementing forward‑thinking strategies that enhance tenant value, optimize building performance, and unlock Nexxus Building’s full potential as a commercial anchor in the city’s core.”
Originally built in 1962 as the former headquarters of Hang Seng Bank, Nexxus Building has been a witness to Hong Kong’s rise as a global financial centre. Following a major renovation in 2008 and the addition of a direct footbridge to IFC and the Airport Express in 2020, the building continues to host multinational corporations, leading financial institutions and professional services firms, and premium retail tenants – including the iconic Hong Kong Bankers Club – reinforcing its status as one of Central’s most distinguished Grade‑A office towers.
Hashtag: #TriviumAssetManagement
The issuer is solely responsible for the content of this announcement.
About Trivium Asset Management
Founded in 2022, Trivium Asset Management is a Hong Kong‑based real estate investment and asset management firm overseeing assets valued at over US$900 million across Asia. Trivium serves institutional investors, financial institutions, and family offices through integrated investment and asset management, value‑creation strategies, and technology integration. The firm’s mission is to maximize long‑term value and promote sustainable growth for clients and communities alike.
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HOFA Announces the Second Edition of the Digital Art Awards, in Collaboration with Exhibition Partner PhillipsX in Hong Kong, proudly backed by Lightyear
The awards ceremony will take place on 24 March 2026, featuring the four key categories of Still Image, Moving Image, Innovation and Experiential and followed by a private sale exhibition hosted by Phillips in Hong Kong, from 25–28 March 2026.
As a highlight of Hong Kong’s spring art calendar, the awards celebrate the growing cultural significance of digital art and spotlights the visionary artists redefining visual culture through cutting-edge technologies.
Thirty two international finalists will be selected for their work pushing the boundaries of digital creativity. Each of the four category winners will receive a $10,000 USDC commission towards a new artwork.
The thirty two finalists include several prominent figures in digital and generative art, such as Erick Calderon (Snowfro) Founder of Art Blocks, Botto, Sarah Meyohas, William Mapan, Sasha Stiles and Mario Klingemann – underscoring the calibre of talent the awards are already attracting with over two hundred applications across more than fifty countries.
Refik Anadol is nominated for the Honorary Career Award for Sense of Healing, an AI Data Sculpture that emerges from Refik Anadol Studio’s long-term research into creating meditative art based on neurological data.
Finalists and winners will be selected by a panel of leading experts in art, hospitality and technology, including Irini Mirena Papadimitriou, Exhibitions Director at Diriyah Art Futures, Thomas Heyne, Co-Founder and CEO at Scorpios, Dorothy di Stefano, Art Curator and Creative Strategist at Molten Immersive Art, Danielle So, Hong Kong Head of Auction, Modern & Contemporary Art, Phillips, Sebastien Borget, Co-Founder & Global of The Sandbox, SANDchain, President of Blockchain Game Alliance and Co-Founder of Artverse, Jean-Michel Pailhon, Co-Founder and Chief Investment Officer at Grailcapital, Simonida Pavicevic, Co-Founder and Curator at HOFA, Justin Gilanyi, Founder of WhereArt.Works and Curator at SILK, and Matt Zhang, Founder and Managing Partner at Hivemind Capital.
The Digital Art Awards are proudly backed by Lightyear, a subsidiary of Hivemind Digital Group. A full-stack digital culture partner, Lightyear provides infrastructure, liquidity and market expertise, and hands-on delivery for digital ownership and engagement across physical and digital experiences. Lightyear is committed to championing artists and organizations pushing the boundaries of digital culture.
Hashtag: #HOFA #PhillipsX
The issuer is solely responsible for the content of this announcement.
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