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Showing posts with the label hong kong

Hong Kong Opens New Cruise Terminal Costing $1.1 Billion

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Hong Kong opened a large cruise terminal that has come up on the old international airport site. It is perhaps the best example of redevelopment as what used to be the runway will now be able to accommodate the largest cruise ships in the world. The berths in the new cruise terminal have been built to handle liners of up to 220,000 gross tons. Built at a cost of $1.1 billion, the terminal hopes to become Asia’s hub for luxury liners. It was the site for Kai Tak International airport that connected Hong Kong to the rest of the world. Even in its new avatar it will continue connecting Hong Kong to the rest of the world. The only difference is that it will now connect through the seven seas. Mariner of the Seas was the First Liner to Dock at the New Terminal The commissioner of Tourism, Hong Kong, Philip Yung was present at the inauguration of the terminal and was excited about the possibilities it had opened. The new facility has enabled Hong Kong to receive mega cruise ships an...

Most Expensive Suit in the World is Made in Hong Kong for HK$ 1 Million

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Most expensive suit may come up from the most unlikely place. Hong Kong is known for its expensive real estate but a tailor in the city has produced a suit that he claims to be one of the most expensive in the world. When you think of expensive suits, the names that come to mind are Saville Row or Ermenegildo Zegna who custom make suits in some of the most premium and exclusive material. Of course there are designers who create one off pieces and embellish them with precious stones and metals to claim the honor of being the most expensive in the world. Suit Stitched With Gold Thread Has Gold Buttons Encrusted With Diamonds Stuart Hughes of Manchester, England has created a bespoke suit that carries a staggering price tag of $892,250. He has no doubt used premium material like cashmere, wool and silk but the price has been pushed towards a million dollars by embellishing it with 480 individual pieces of 0.5 carat, color G, vs2 quality diamonds. The Hong Kong tailor has used 22 cara...

Hong Kong’s Causeway Bay Becomes the Most Expensive Shopping Area in the World

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Hong Kong’s Causeway Bay The growth of emerging markets led by China has made Hong Kong the most expensive shopping area in the world. A study done by Cushman & Wakefield reveals that New York has given way to Hong Kong as the retailers located in the luxury area of Causeway Bay paid an average of $2,630 per square foot. This was a growth of over 34% compared to the previous year and was fuelled by about 30% growth in sales driven by the tourists and mainland residents. London may be the most expensive when it comes to the super prime real estate but its Bond Street slipped out of the top ten list of the most expensive shopping area resulting from a weak national demand. We bring for you the top ten most expensive shopping area in the world. Hong Kong’s Causeway Bay Average annual rent: $2,630/square foot The luxury goods on Causeway Bay witnessed greater demand mainly by mainland residents who find the prices in Hong Kong cheaper. Causeway Bay overtook 5th Avenue as...

La Belle Epoque, The Monaco Penthouse, the Most Expensive Three-Bedroom Apartment

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The meltdown seems to have melted away and the super rich are back to the luxury property market with a vengeance. In the recent past, Hong Kong and London has witnessed some record prices being paid for exclusive properties. Now we may be witness to the biggest property sale of all time. The sale of the lavish 17,500 sq ft Monaco penthouse La Belle Epoque by British property developer brothers Christian and Nick Candy and the price tag is not ordinary either – €240 million (£199 million), paid by an unnamed Middle Eastern investor. Monaco, Saint Tropez and Cap Ferrat have all seen witnessed an increase in the prices of luxury homes this summer. There was no official word from the developers of this property as their spokesman refused to comment. The building is perhaps the best known in the principality and dates back to the pre war glorious days of Monaco. The penthouse that occupies the top two floors of a block of flats has been redone completely. Each suite in the p...