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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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GAC AION Unveils the Aion V: Redefining Electric Mobility with Advanced Technology and Design
Product Highlights
The AION V offers a WLTP range of 485km per charge, making it the longest-range option in Category A. It features 3C fast charging technology, allowing up to 300 km of range to be recharged in 15 minutes, the fastest charging EV in its category. Designed for comfort, it includes a spacious interior with 180-degree lie-flat front seats and massage seats, a first in its category.
Design and Luxury
The Aion V electric SUV features a T-Rex Cyber Design with geometric shapes and full LED headlights, available in eight colour options. The interior is designed for comfort and convenience, incorporating soft-touch materials, premium leather seating, and front seats with memory, massage, heating, and ventilation functions. Additional features include a smart multi-function refrigerator, a panoramic glass roof, and a 9-speaker premium sound system with noise-reducing cabin materials to enhance the driving experience.
Innovative Technology
Equipped with the Snapdragon 8155P processor and AEP 3.0 platform, the Aion V smart car is designed for efficient performance and responsive operation. It includes L2 intelligent driver assistance and intelligent navigation with charging station search capabilities for enhanced safety and convenience. Future models are set to be upgraded to L2+, incorporating automatic parking and highway drive assist. The vehicle also supports voice control, CarPlay, and Android Auto for seamless connectivity.
Safety and Performance
The Aion V electric SUV is built with a high-strength body, utilising 72% lightweight materials and Magazine Battery 2.0 technology, designed to meet EURO NCAP’s 5-star safety standards. The battery has undergone extensive testing, demonstrating stability under various conditions. Safety features include a centre airbag, extended airbag curtain, blind-spot monitoring, and a 360-degree camera system, providing enhanced driver awareness and occupant protection.
Sustainable Impact
Aligned with sustainable transportation goals, the Aion V electric SUV operates under a zero-emissions design, reducing pollution and improving energy efficiency. Its 18-in-1 Integrated Power Unit achieves 17.2 kWh/100 km energy consumption, while Silicon Carbide Technology optimises power usage and extends driving range. The Lithium Iron Phosphate (LFP) battery enhances safety, sustainability, and longevity, supporting the brand’s commitment to energy-efficient electric mobility.
“Our new Aion V model epitomises GAC AION’s commitment to pushing the boundaries of what electric vehicles can offer. We are not just selling cars; we’re paving the way for a cleaner, more sustainable future where electric mobility is accessible to everyone,” shared Ernest Tan, Deputy CEO, VINCAR Group.
Market Availability
The Aion V electric SUV will be available for purchase on 26 February 2025, exclusively through the authorised dealer GAC AION and VINCAR Group. It is priced at $174,988, with a launch discount of $6,000, bringing the effective price to $168,988. The price is valid until March 5, 2025, at 12 PM, and includes a COE rebate of $87,000 under the Non-Guaranteed 8 Bids scheme.
For more details or to book a test drive, visit the Aion V website.
Hashtag: #GACAION
https://aionev.com.sg/
https://www.facebook.com/aion.sg/
https://www.instagram.com/aion.sg/#
The issuer is solely responsible for the content of this announcement.
About GAC AION
GAC AION is dedicated to advancing electric mobility, prioritising accessibility, transparency, and reliability. The company’s mission is to make electric vehicle ownership achievable for all, underpinned by a steadfast commitment to innovation and quality.
About VINCAR Group
VINCAR Group is a leading multi-brand car dealer and importer in Singapore, focused on innovation and customer experience. They offer in-house financing, leasing, insurance, and after-sales services, prioritising a customer-centric approach. Committed to value and quality, VINCAR Group provides competitive pricing and a diverse vehicle selection, ensuring reliability through their rigorous vetting process.
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Tineco Unveils Two Revolutionary Floor Washers with Super New Arrival Promotion Starting from February 28th
- Tineco launches two new floor washers: Floor One S9 Artist and Floor One Switch S7 Stretch
- Promotion available from February 28th to March 28th, 2025, with attractive gift-with-purchase and more!
- These innovative floor washers combine cutting-edge technology, energy efficiency, and sleek design for a superior cleaning experience
SINGAPORE – Media OutReach Newswire – 28 February 2025 – In response to the common challenges faced by homeowners—such as stubborn odours, tangled hair, and the inconvenience of using multiple cleaning tools—Tineco has unveiled its latest innovations: the Floor One S9 Artist and Floor One Switch S7 Stretch. These next-generation floor washers offer exceptional flexibility, powerful deep-cleaning performance, and an enhanced user experience, designed to meet the needs of today’s modern households.
FLOOR ONE S9 ARTIST: ADVANCED 360° CLEANING WITH HYPER STRETCH TECH AND SELF-CLEANING INNOVATION
The Floor One S9 Artist offers an advanced solution for modern homes. Featuring the 360° SmoothDrive Technology, it reduces handholding effort by 50%* through flexible left-right movement and a 90° Swivel Design, which adjusts the speed of the left and right wheels in real-time. In addition, the transmission of signals to the AI chip enables intelligent matching, ensuring smooth forward pushing, backward pulling, and effortless steering.
Additionally, the Floor One S9 Artist incorporates Hyper Stretch Technology, featuring a slim 12.85 cm flat height, which allows easy access under furniture to effectively remove hidden dust and ensure no corner is left untouched.
With exceptional cleaning performance, the Floor One S9 Artist features a Dual-Block Anti-Tangle Design that efficiently handles both pet and human hair without tangling. The MHCBS (Maintain Hygiene Clean Brush System) continuously rinses the brush with fresh water, while a squeegee presses against the roller brush to scrape off dirt and immediately sucks the dirty water into the wastewater tank. Additionally, the Flashdry Self-Cleaning System enhances cleaning efficiency by using 85°C hot air to heat fresh water, dissolving stains from the pipe to the brush roller for a deeper, more thorough self-cleaning result.
Upgrades were also made to enhance user experience, such as the Backtrack Water Erasure function that eliminates water streaks, and the Repositioned Clean Water Tank that enhances cleaning efficiency with reduced weight for effortless operation. The optional Electrolyzed Water feature delivers a superior cleaning experience, making the Floor One S9 Artist a versatile and user-friendly floor care solution.
FLOOR ONE SWITCH S7 STRETCH: THE 5-IN-1 CLEANING REVOLUTION FOR EFFORTLESS FLOOR CARE
The Floor One Switch S7 Stretch is a 5-in-1 cleaning tool, combining floor washing, vacuuming, crevice cleaning, soft surface care, and high-reach dusting into one compact device. Designed to replace traditional vacuums, it effortlessly handles wet and dry messes, including oily stains and hard-to-clean debris.
The Floor One Switch S7 Stretch revolutionizes floor cleaning with its advanced washing capabilities. With 22KPa of suction power, it effortlessly lifts dirt, debris, and hair, ensuring a deep and thorough clean every time. Like the Floor One S9 Artist, it features the MHCBS, which rinses the brush with fresh water 450 times per minute to guarantee spotless floors. The 180° lay-flat design and HyperStretch Technology allow it to clean under furniture and reach tight spaces as low as 13cm. Its Dual-Block Anti-Tangle Design prevents hair tangles, while dual-sided edge cleaning ensures no corner is left untouched. The FlashDry Self-Cleaning System utilizes fresh water heated to 85°C, combined with hot air, to dissolve stains and dry the brush in just 5 minutes, keeping it fresh and odour-free.
The Floor One Switch S7 Stretch also excels as a powerful vacuum cleaner. With its 5-stage filtration system which captures 99.97% of dust and debris as small as 0.3μm. Meanwhile, the ZeroTangle Brush effortlessly picks up hair without wrapping, and an LED headlight illuminates hard-to-reach areas, making cleaning under furniture effortless. The vacuum mode offers up to 70 minutes of runtime, powered by upgraded pouch cells that triple battery lifespan.
Images available in the media kit here.
AVAILABILITY & LAUNCH PROMOTIONS
| Device | Availability | Launch Promotions
T&Cs apply, while stocks last |
| Floor One S9 Artist | Available now on Shopee, Lazada, TikTok Shop and Mass Retailers | Free Tineco iCarpet Spot Cleaner (worth S$379) + 6 bottles of cleaning solution |
| Floor One Switch S7 Stretch | Available now on Shopee, Lazada, TikTok Shop and Mass Retailers | Free Tineco iCarpet Spot Cleaner (worth S$379) + 6 bottles of cleaning solution |
TINECO ROADSHOW AT PAVILION DAMANSARA HEIGHTS, KUALA LUMPUR
Happening on March 5th, Tineco will celebrate the launch of these two floor washers with a roadshow at Pavilion Damansara Heights (Centre Court), where visitors can try out the superior cleaning experience for themselves, score special deals and win prizes.
Hashtag: #Tineco
The issuer is solely responsible for the content of this announcement.
About Tineco
Founded in 1998, Tineco is a high-tech company and a wholly-owned subsidiary of ECOVACS Group (SHA: 603486). Dedicated to innovation, Tineco has consistently delivered smart home cleaning solutions that redefine convenience and efficiency. With the launch of the Floor One S9 Artist and Floor One Switch S7 Stretch, Tineco continues to lead the way in creating products that make everyday life easier and more enjoyable.
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Ne Zha 2 Dominates Hong Kong Box Office for Four Straight Days, Crowned 2025’s Top Film
The sequel to the 2019 hit “Ne Zha” premiered in Hong Kong on February 18 and hit the theaters on February 22, drawing enthusiastic crowds and critical acclaim. The film reimagines the mythical tale of Ne Zha—a divine warrior from Chinese folklore—with modern storytelling and cutting-edge animation, captivating audiences across the Chinese mainland since its Lunar New Year debut.
The Hong Kong premiere at Causeway Bay drew a star-studded crowd, including representatives from its Hong Kong and Macau distribution teams, local cultural figures, and residents. Industry professionals praised the film’s technical brilliance and narrative depth, with many cinemas, such as Kowloon Tong’s Festival Grand Cinema, scheduling near hourly screenings to meet demand.
Two Hong Kong moviegoers shared their excitement after attending early screenings. One resident remarked, “I don’t usually watch adult-oriented animated films, but this one is definitely worth watching. Chinese animation can now rival, or even surpass, foreign productions.” Another added, “Chinese animation keeps improving. Compared to films six years ago, the artwork is more beautiful, the visuals more vibrant, and the storytelling completely unexpected.”
LO Shuk-pui, Director of the Hong Kong SAR Government’s Culture, Sports, and Tourism Bureau, highlighted the film’s collaborative effort, stating, “The script is exceptionally well-written, with sharp dialogue and rich character development. I heard 138 companies worked on this project over five years—the dedication and technical excellence are evident.”
WONG Bak-ming, Chairman of Hong Kong’s Oriental Film Company, emphasized its cultural significance, noting that Ne Zha series has successfully brought traditional Chinese stories to the global stage. It proves Chinese animation can achieve world-class results, and they’re proud to contribute to this milestone.
Globally, Ne Zha 2 has grossed over $1.698 billion as of February 18, surpassing “Inside Out 2” to become the highest-grossing animated film in history and entering the top eight of the all-time global box office chart. Due to its sustained popularity, the film’s screening period in Chinese mainland has been extended to March 30.
From its mythological roots to its record-breaking success, Ne Zha 2 continues to redefine the possibilities of Chinese animation, bridging cultural heritage with global appeal.
Hashtag: #ShanghaiEye
The issuer is solely responsible for the content of this announcement.
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