Foreign investors are increasingly active in Hong Kong’s commercial real estate market, with Singapore-headquartered Shorea Capital and Amazon’s data services unit among the latest buyers, according to industry sources.
Shorea Capital secured The Pemberton, a mixed office and retail property located in Sheung Wan, through a tender process. The transaction price was not disclosed. The 24-storey building covers a gross floor area of 5,388 square meters and features five levels of commercial space with office floors above. Previously, the property was acquired in 2010 by AEW’s HK 1 Limited for approximately HK$344.34 million, according to land records. Colliers, which acted as lead agent and broker for the sale, reported that Shorea plans to apply for the conversion of the property into high-quality residential accommodation, reflecting efforts to address Hong Kong’s housing shortage.
Eugene Teo, CEO of Shorea Capital, said the acquisition marked a strong entry point into the Hong Kong market, highlighting the site’s connectivity and long leasehold tenure. He added that the potential to repurpose the building for residential use could unlock significant value through active repositioning. Andrew Ng, head of restructuring services at Colliers, noted that the deal illustrates ongoing investor demand for well-located assets with redevelopment potential in core urban areas.
In a separate transaction, Grand Ming Group announced in a stock exchange filing that it agreed to sell two data centres in Fanling to Amazon Data Services, a division of the U.S.-based e-commerce company, for up to HK$2.44 billion. One of the data centres is currently occupied by Amazon Data Services, while the other remains under construction. The sellers are subsidiaries of Grand Ming.
Industry experts see continuing optimism from international technology firms toward Hong Kong’s digital infrastructure market. Samuel Lai, executive director at CBRE Hong Kong, highlighted the city’s status as a mature data centre destination with limited new supply due to land and power constraints, noting resilient demand driven by Hong Kong’s role as a regional digital hub and financial centre.
The recent deals reflect robust foreign investor interest in Hong Kong’s commercial property sector. Savills, a property consultancy, reported that Southeast Asian investors, predominantly from Singapore, constitute the largest group of non-local buyers this year. According to Savills, local and non-local investors, including those from mainland China, have collectively spent an estimated HK$30.36 billion on Hong Kong commercial assets exceeding HK$50 million in value so far in 2026. Southeast Asian capital accounted for about HK$3.37 billion (over 11 percent), mainland Chinese buyers contributed HK$1.75 billion (5.8 percent), and Hong Kong-based investors dominated with HK$25.25 billion (83.2 percent).