Broader market commentary and insights, research ideas, case studies, and other topics worth discussing

The third private residential project in the Tung Chung New Town Extension (East) has been awarded to 𝐀𝐛𝐥𝐞 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠, a construction and engineering company, at a higher-than-expected price of AV of $3,052 psf. This doubles the price of the adjacent site (Area 106B) awarded to SHKP in Feb. 2025. Valuation expectations among different valuers varied considerably. While some were worried about the massive flat supply in Tung Chung area, and the high constructi

Of the 27 sites held by private sports clubs under 𝑷𝒓𝒊𝒗𝒂𝒕𝒆 𝑹𝒆𝒄𝒓𝒆𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝑳𝒆𝒂𝒔𝒆𝒔 in Hong Kong, 15 leases are approaching expiration. Should a club — as the lessee — choose to renew its lease, it is required to pay a land premium equivalent to one-third of the site's market value. The lessee may request a review of the valuation in accordance with established procedures. However, the new policy does not imply that lease renewal is automatic simply upon

Amid the threats of global climate change and supply chain volatility, traditional agriculture has reached a critical tipping point. The core value of Foodtech lies in its ability to decouple food production from specific climatic conditions, thereby addressing food crises and achieving sustainability goals. California-based Voyage Foods is spearheading a transition from 'nature-dependent' to 'tech-driven' production, playing a structural role in the evolution of the Foodtech

In today’s business landscape, arbitration is highly favored for its confidentiality, specialized expertise, and enforceability. However, when a dispute enters arbitration, the core issue often distills down to a single question: 'What is it worth?' At this juncture, the Valuer becomes indispensable. They do more than translate abstract rights and losses into concrete economic figures; they serve a multi-faceted role as technical experts, translators of fact, and guardians of

Among various RWA categories, the tokenization of U.S. Treasuries is growing at the fastest pace, driven by a robust demand for 'on-chain USD yields' and the asset's inherent low-risk profile, which appeals to the crypto and DeFi ecosystems. Treasury-backed RWAs provide stable collateral and interest income, serving as a 'core position' in asset allocation. Real estate RWA also remains a vital category; with its global valuation reaching billions of dollars in 2023, it is pro

In 2025, the global M&A market experienced a significant rebound following the stabilization of high interest rates, cooling inflation, and a 'double bottom' valuation reset. Total deal value in the first half of the year reached approximately $1.5 trillion, a 15% year-on-year increase and a three-year post-pandemic high. The United States remains the global epicenter, accounting for roughly 60% of total volume ($908 billion). A resurgence in mid-to-large-cap transactions (ra

Purchasing land is essentially an acquisition of two core values: cash flow and exit options. While the lackluster tender response for the two industrial sites in the Northern Metropolis may seem like a reflection of weak market sentiment, a closer look at the terms reveals a consistent logic among investors. When the government acts as both the largest 'tenant' and a potential 'sub-landlord'—effectively competing for tenants within the same project—the Internal Rate of Retur