Director of the Hong Kong Economic and Trade Office (Toronto) (HKETO), Ms Emily Mo, joined the “Canadian Commercial Property Market with a Hong Kong Highlight” webinar to examine the current situation and trend of the commercial property markets in Canada and Hong Kong. The webinar was hosted by the Hong Kong-Canada Business Association (Greater Toronto Area Section) (HKCBA) on October 13.
In delivering the welcome remarks at the webinar, Ms Mo first updated the participants on the pandemic situation in Hong Kong. “Through continual deployment of anti-epidemic and social-distancing measures, Hong Kong has succeeded in minimising infections without resorting to a city lockdown,” Ms Mo said.
Despite the challenges, the commercial real estate market in Hong Kong continues to navigate through turbulent times. “Earlier in August, the Hong Kong Monetary Authority allowed banks to increase their lending for non-residential property by lifting the loan-to-value ratio to 50% from 40%,” Ms Mo said.
“The gradual improvement in business momentum in Hong Kong suggests a possible pick up in market activity in the second half of 2020. Hong Kong just recorded the biggest weekend of home sales in 14 months in the last weekend of September,” Ms Mo continued.
Regarding the financial market, Ms Mo noted the challenges brought by the pandemic and speculation of the continuation of Hong Kong’s rule of law and freedoms. “Hong Kong’s financial market and investor confidence remain generally stable,” Ms Mo said.
“Indeed, the rule of law as well as the various legitimate rights and freedoms are the fundamental core values of Hong Kong and are much cherished by the HKSAR Government and community,” she continued.
Before closing, Ms Mo encouraged Canadian companies to tap on the opportunities offered by Hong Kong’s real estate sector by setting foot in the city. Following Ms Mo’s remarks, Head of InvestHK Canada Mr Christopher Chen, participated in a panel discussion, together with other industry experts, to introduce the services offered by InvestHK for companies that are interested in real estate investments in Hong Kong.
香港駐多倫多經濟貿易辦事處（香港經貿處）處長巫菀菁於十月十三日參與由港加商會（大多倫多地區）舉辦的 “Canadian Commercial Property Market with a Hong Kong Highlight” 網上研討會，探討加拿大及香港商業地產市場的現況及趨勢。