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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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The issuer is solely responsible for the content of this announcement.
About Ultima Markets
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Disclaimer
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2nd MOTIFX – Embracing the Beauty of Chinese Culture Culture to Nature – A Surreal Garden of Botanical Patterns
Organised by the Hong Kong Design Institute (HKDI) under the Vocational Training Council (VTC) and sponsored by the Cultural and Creative Industries Development Agency (CCIDA), MOTIFX invites emerging designers to reinterpret traditional Chinese motifs for contemporary contexts, seamlessly integrating historical patterns into modern objects, interiors, and lifestyle products while deepening new generations’ engagement with their cultural heritage.
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture invites designers to explore the mystical side of Chinese characters, with a particular focus on Radical Grass (艹 / 艸) and its evocative connection to a surreal world of nature. While respectfully acknowledging the cultural and philosophical differences between Eastern and Western traditions, the project embraces nature’s whimsy and dreamlike beauty with open delight
This inspiration gives birth to the central theme: Culture to Nature – A Surreal Garden of Botanical Patterns. Curated by Michael LEUNG, the exhibition brings together numerous design students and local designers who are in studies across diverse disciplines to rediscover the vibrant potential of Chinese characters. In doing so, it redefines the relationship between cultural heritage and the natural world, resulting in an imaginative collection of patterns and design works that vividly capture the theme.
A key highlight is the immersive installation Surreal Garden, created by designers Moon.noon and Stickyline. Inspired by “Radical Grass” motifs designed by these young creatives, the duo transforms two-dimensional patterns into a multi-sensory experience. Visitors move seamlessly from the physical space into a digital dreamscape, journeying through the four seasons guided by the 24 traditional solar terms — from the blossoming of spring to the retreat of winter — tracing the boundless rhythms of nature.
This surreal journey continues throughout the exhibition, which showcases over 100 original patterns created by local design students, each derived from the 艹 radical. Like countless flowers blooming in a shared field, these works express diverse creative voices, yet all are rooted in the same ancient, ever-living origin — the enduring 艹 .
DesignInspire 2025 was transformed into this fantastical garden woven from Chinese characters and nature’s boundless poetry — and let your imagination take flight.
Curator: Michael LEUNG
Born in Hong Kong, Michael LEUNG earned his Master’s degree from Design Academy Eindhoven in the Netherlands, where he later founded Studio AA (previously MIRO). His practice spans graphic, product, and spatial design, often exploring the intersections of craftsmanship and industry, local culture, and sustainability. Recipient of the Hong Kong Young Design Talent Award and Perspective 40 Under 40, his work has been showcased at Milan Design Week, Dutch Design Week, and other major international exhibitions. In recent years, he has collaborated with institutions such as the Vitra Design Museum (Germany) and the V&A (UK), extending his creative vision into exhibition curation.
Participating Artist: Moon.noon
Moon.noon (KONG Fan-leung) is a real-time visual artist who masterfully blends data-driven storytelling with immersive audio-visual and sensory experiences. A former user-experience designer, he now transforms complex sources — climate data, urban landscapes, audience interaction — into powerfully evocative visual languages. His works have appeared at M+, Hong Kong Chinese Orchestra, West Kowloon Freespace Jazz Festival, and in collaborations with Coca-Cola, LG, and Samsung.
Participating Artist: STICKYLINE
Founded in 2011 by Hong Kong creative artists Mic LEONG and Soilworm LAI, STICKYLINE is celebrated for its large-scale polyhedral sculptures that reveal the beauty of creative engineering, mathematics, and geometry. Working primarily with paper and metal, and integrating kinetics, sound, and light, the duo produces minimalist, durable, and strikingly futuristic installations, site-specific works, and private commissions that have earned widespread acclaim in the design world over the years.
Moroso × HKDI Furniture Collaboration Project
The exhibition showcases a creative collaboration between renowned Italian luxury furniture brand Moroso and design students from the HKDI’s Department of Architecture, Interior and Product Design (AIP). Together, they present the forward-looking project with MOTIFX patterns printed on the fabrics to “Designing Clothes for Furniture Objects.”
This initiative reimagines furniture as living bodies to be dressed, where textiles and soft elements become expressive garments. Moving beyond surface aesthetics, students explore adaptability, sensory depth, and emotional resonance, while engaging with ideas of circularity, modularity, and service-oriented design. The design challenge invites them to create interchangeable and upgradeable “furniture garments” that respond to personal habits, environments, and even special occasions.
Event Details:
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture Exhibition at DESIGNINSPIRE 2025
Date : 4 Dec – 6 Dec, 2025
Time : 9:30am-7:30pm
Venue : Booth no. 3E-D02, Hong Kong Convention and Exhibition Centre
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture Exhibition
Date : 3 Mar – 31 Mar, 2026
Time : 10:30AM – 7:30PM (Monday to Sunday)
Venue : 2/F, LANDMARK ATRIUM
The 2nd MOTIFX – Embracing the Beauty of Chinese Culture Exhibition at FASHION INSTYLE, HOME INSTYLE EXHIBITION 2026
Date : 27 Apr – 30 Apr, 2026
Time : 9:00AM – 6:00PM
Venue : Concourse Area, Hong Kong Convention and Exhibition Centre
Hashtag: #MOTIFX
The issuer is solely responsible for the content of this announcement.
About Vocational Training Council (VTC)
Established in 1982, the Vocational Training Council (VTC) is the largest vocational and professional education and training provider in Hong Kong. The mission of VTC is to provide a valued choice to school leavers and working people to acquire the values, knowledge and skills for lifelong learning and enhanced employability, and also to provide support to industries for their manpower development. VTC has 14 member institutions, namely the Technological and Higher Education Institute of Hong Kong (THEi), the Institute of Professional Education And Knowledge (PEAK), the School for Higher and Professional Education (SHAPE), the Hong Kong Institute of Vocational Education (IVE), the Hong Kong Design Institute (HKDI), the Hong Kong Institute of Information Technology (HKIIT), the Hotel and Tourism Institute (HTI), the Chinese Culinary Institute (CCI), the International Culinary Institute (ICI), the Maritime Services Training Institute (MSTI), Youth College, Pro-Act by VTC, the Integrated Vocational Development Centre (IVDC) and the Shine Skills Centre.
Website: 
www.vtc.edu.hk
About Hong Kong Design Institute (HKDI)
Hong Kong Design Institute (HKDI) is a member of VTC Group. HKDI was established in 2007 with the mission to be a leading provider of design education and lifelong learning, including architecture, interior and product design, communication design, digital media, and fashion and image design. With a view to providing professional designers for the creative industries, it promotes the “think and do” approach and encourages interdisciplinary synergy in its broad range of design programmes that cultivates students’ cultural sensitivities and sense of sustainability. HKDI maintains a strong network with industry and provides its students with essential practical experience. Overseas exchanges are actively arranged for students to broaden their international perspective.
Website: http://www.hkdi.edu.hk
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
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InterContinental Singapore Robertson Quay Strengthens Guest Experiences Through The Quay Insider Programme
The Story Behind The Quay Insider
Introduced in early 2025 as part of the InterContinental brand’s hallmark of “Insider Expertise”, The Quay Insider embodies InterContinental Singapore Robertson Quay’s commitment to connecting travellers with the authentic and lesser-known sides of Singapore. This comes to life through partnerships with local brands around the neighbourhood, inviting guests to immerse themselves in the city’s vibrant culture and storied heritage.
Crafting Experiences For Every Traveller
The Quay Insider has been thoughtfully designed to cater to a variety of traveller interests. The Cultural Enthusiast seeks authentic immersion, connecting with the heart of a destination through its local flavours, rich heritage and timeless stories. The Creative Wanderer discovers rare and remarkable experiences, from curated dining journeys to artisanal craftsmanship, that reflect bold individuality. The Wellness Seeker pursues balance amidst the rhythm of modern life, choosing mindful experiences that uplift and rejuvenate. By aligning curated privileges with these personas, The Quay Insider ensures that each guest’s journey is both enriching and personalised.
For business travellers, The Quay Insider privileges are crafted to enhance the comfort and convenience of the hotel’s luxury suites, seamlessly balancing work with moments of relaxation. For leisure guests, the programme allows them to immerse themselves in the precinct’s rich cultural and heritage experiences that have shaped Singapore into the city it is today. By fostering experiential travel, The Quay Insider transforms each stay into a journey of discovery, with curated local encounters that add depth and distinction to every visit.
Curating Our Neighbourhood Partners
Over 25 partners were curated for their commitment to authenticity, alignment with guest interests, and exceptional quality. Spanning independent designers, art collectives, wellness studios, and award-winning restaurants, these partnerships offer guests privileges ranging from complimentary additions with purchase and curated cultural tours to bespoke wellness and dining experiences that are tailored to each individual’s interests.
The programme spotlights local businesses and tour operators to support sustainable tourism through preservation of the creative, heritage and cultural identity of Robertson Quay. By connecting guests with local experiences around the neighbourhood, it reinforces InterContinental Singapore Robertson Quay’s positioning as both a luxury riverfront haven and a gateway to the neighbourhood’s heritage rhythm and cultural vibrancy.
Creating Meaningful Connections Beyond The Stay
From culinary experiences and cultural explorations to moments of rest and wellness, The Quay Insider complements the hotel stay by introducing guests to lesser-known aspects of Singapore’s dining, culture, and wellbeing scene. It helps leisure travellers discover local highlights and offers business travellers experiential travel opportunities to relax and explore nearby, all within easy reach of the hotel.
“The Quay Insider invites guests to experience more than just a stay,” shared Kieran Quinn, General Manager, InterContinental Singapore Robertson Quay. “It connects them to the heart of Robertson Quay through meaningful partnerships with community partners in the neighbourhood, enriching guest experiences while helping to support the local community.”
Building The Next Chapter Of Hospitality
InterContinental Singapore Robertson Quay remains committed to sustaining long-term partnerships within the community, supported by dedicated communication efforts that keep guests informed of the privileges available through The Quay Insider. Renewed annually, this ensures the programme stays attuned to evolving guest interests and the growing demand for meaningful, experiential travel.
Moving forward, the hotel is also exploring more collaborations across the precinct to further expand the scope of insider experiences. These initiatives aim to introduce both international travellers and local guests, including those booking a staycation package in Singapore, to a wider range of experiences. As such, the programme can continue to evolve in line with the needs and aspirations of today’s travellers. This allows InterContinental Singapore Robertson Quay to weave local experiences seamlessly into every guest’s stay experience.
Hotel Positioning
Alongside The Quay Insider, InterContinental Singapore Robertson Quay maintains its positioning as a luxury lifestyle hotel for modern travellers. Its residential-inspired design complements the experiential travel focus of the programme, offering guests the combination of contemporary comfort and immediate access to local culture.
The introduction of the programme sets the hotel apart by embedding cultural engagement seamlessly into the guest journey. Both leisure and business travellers may enjoy a hospitality experience that weaves meaningful experiences around the neighbourhood, together with the refined luxury of InterContinental Singapore Robertson Quay.
Hashtag: #InterContinentalSingaporeRobertsonQuay #TheQuayInsider #CondéNastReadersChoice2025
https://robertsonquay.intercontinental.com/
http://www.facebook.com/InterContinentalRobertsonQuay
https://www.instagram.com/intercontinentalrq/
The issuer is solely responsible for the content of this announcement.
About InterContinental Singapore Robertson Quay
InterContinental Singapore Robertson Quay is a luxury hotel nestled in the heart of Singapore’s newest micro-destination. Situated on the banks of the Singapore River at one of the most exclusive addresses, InterContinental Singapore Robertson Quay is a ripe host of thoughtful amenities and personalised services.
The 225 studios and suites are reminiscent of a private residence, surrounded by vibrant dining options, art houses and heritage sites, with the CBD located just 5 minutes away. The sleek urban property reflects the neighbourhood’s industrial past with modern, contemporary finishes complemented by outdoor terraces boasting river views.
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