Link Real Estate Investment Trust Link Reit has agreed to sell a portfolio of local shopping malls to private equity firm Gaw Capital and the investment arm of Goldman Sachs for HS$23 billion $2.9 billion.
The high valuation for the 17 properties achieved by the largest listed Reit in Hong Kong shows that the city’s property market remains red hot. Demand is feverish across the all sectors of the property market from residential through to office space.
However scratch below the surface and Link Reit’s array of local shopping malls and wet markets were always better positioned to weather the headwinds of declining spending by...