Summary of Hong Kong Property Market Conference Call Industry Overview - **Focus**: Hong Kong Property Market, specifically Office and Retail sectors - **Key Preference**: Office sector is preferred over retail due to improving vacancy rates and rental conditions in Central Hong Kong [1][10] Key Insights on Office Sector - **2026 Rental Forecast**: Central office rents expected to increase by +3% (compared to -2% in 2025), while overall office rents projected to decline by -3% [3] - **Demand Drivers**: Increased demand from tech companies, asset management, and wealth management firms is anticipated to help cap rate compression [3][9] - **Vacancy Trends**: Office vacancies are declining, with Central benefiting first from the recovery [10] Key Insights on Retail Sector - **2026 Sales Forecast**: Retail sales expected to rise by +3% (up from +2% in 2025), but rental rates projected to decrease by -3% [4] - **Visitor Trends**: Increased visitation from mainlanders to Hong Kong is noted, but challenges include competition from Shenzhen and mainland e-commerce [4] - **Risks**: Rising unemployment rates pose a risk to retail sales recovery [4] Company-Specific Updates Hongkong Land (HKLD.SI) - **Rating**: Upgraded to Overweight with a price target of USD 7.60 (previously USD 6.50) [5][20] - **Key Drivers**: Strong execution in capital recycling, stabilizing rentals in Central, and transformation into an asset manager [20][21] - **Earnings Revisions**: Slight adjustments in EPS estimates for FY25/FY26/FY27E, with a projected mid-single-digit growth in DPS [25][26] Hang Lung Properties (HLP) - **Rating**: Overweight with a price target of HKD 10.70 (previously HKD 10.50) [5][42] - **Growth Drivers**: Positive tenant sales growth in China, expansion of retail space, and a new capital-efficient strategy [42][43] - **Earnings Revisions**: Adjustments in EPS estimates reflecting improved operating conditions [48][49] Swire Properties - **Rating**: Upgraded to Overweight with a price target of HKD 23.00 (previously HKD 20.00) [5][52] - **Key Factors**: Improving office fundamentals, resilient retail sales in China, and active capital recycling initiatives [52][53] - **Earnings Revisions**: Slight increases in profit estimates for FY25/FY26/FY27E [59][61] Hysan Development - **Rating**: Upgraded to Equal-weight with a price target of HKD 19.00 [5][63] - **Market Position**: Gaining market share in Causeway Bay, with new developments expected to enhance foot traffic [63] - **Concerns**: Potential negative rental reversion and dividend cut risks due to financial obligations [63] Link REIT - **Rating**: Downgraded to Equal-weight with a price target of HKD 37.00 (previously HKD 48.00) [5][28] - **Challenges**: Persisting negative rental reversion and competition from e-commerce and rising unemployment [28][36] - **Earnings Revisions**: Adjustments in EPU and DPU estimates reflecting ongoing challenges in the retail sector [39][40] Wharf REIC - **Rating**: Underweight due to market share losses and persistent negative reversion [5][14] - **Risks**: Tenant retention issues and competition from luxury retail in mainland China [14] Conclusion - The Hong Kong property market is showing signs of recovery, particularly in the office sector, while the retail sector faces significant challenges. Companies with strong capital recycling strategies and exposure to the Central office market are favored for investment.

The U.S. stock market has been a powerful engine of wealth creation. Trump has pointed to that strength, recently saying that “the only thing that’s really going up big? It’s the stock market and your 401(k)s (6).”If you share this optimism, here’s a look at a few simple ways to position yourself for America’s growth in 2026 — and beyond.The Federal Reserve cut its benchmark interest rate three times in 2025 and economists are forecasting additional reductions in 2026 (5). By lowering borrowing costs, rate ...

As market uncertainty mounts, investors often take cover with precious metals. For instance, gold has climbed around 35% over the past year, hitting over $4,500 per ounce in December (3), while silver has posted impressive gains to match.When markets look shaky, investors often turn to gold — and for good reason. The precious metal is seen as a store of value, offering protection against inflation, economic downturns and stock market volatility.If you share these concerns, here are three ways to help protec ...

Core Viewpoint - INVL Baltic Real Estate is expanding its coworking space offerings by opening a second Talent Garden Vilnius location in a historically significant building, with refurbishment set to begin in January and completion expected by the end of 2026 [1][2]. Company Overview - INVL Baltic Real Estate owns various properties in Vilnius and Riga, including office buildings and a logistics park, with occupancy rates ranging from 82% to 98% as of September 2025 [9]. - The total area of properties owned by INVL Baltic Real Estate is 19,600 sq. m., with a valuation of EUR 47.4 million at the end of September 2025 [10]. - Since its inception in December 2016, INVL Baltic Real Estate has provided stable returns to investors, distributing a total of EUR 2.38 in dividends per share [10]. Project Details - The new coworking space will cover a usable area of 3,500 sq. m., featuring 325 workstations, including 48 premium-class private offices designed for 4–8 people [5]. - The facility will include 20 meeting rooms, a 300 sq. m kitchen, and various collaborative spaces, enhancing the infrastructure for tenants [6]. - The refurbishment will focus on preserving the building's historical features while modernizing the interior and exterior, including the addition of panoramic skylights and updated engineering systems [4][3]. Management and Design - The refurbishment project is being managed by UAB Senojo miesto architektai and the interior design is by architecture studio Plazma, with construction carried out by experienced contractors [8]. - Vytautas Bakšinskas, the real estate fund manager, emphasizes the importance of the building's location and unique architecture in the decision to expand [2]. Market Position - Talent Garden Vilnius has established itself as a platform for international companies entering the Lithuanian market, focusing on employee well-being and operational efficiency [7]. - The new location aims to provide more flexible and innovative solutions for fast-growing businesses and startups, raising the standards of coworking spaces in the region [7].

Core Insights - Real estate is presented as a viable alternative investment option during economic uncertainty, providing potential returns and shielding investors from stock market volatility [1] - A significant portion of high-net-worth individuals are diversifying their portfolios with alternative investments, with 40% of those with $1 million to $5 million in assets and 80% of those with over $10 million engaging in such investments [2] Group 1: Market Trends - U.S. equities are facing challenges due to tariff concerns and market overvaluation, leading to increased interest in cash and cash equivalents as a means to preserve wealth [3] - High-net-worth individuals are reportedly holding about 20% of their net worth in cash and cash equivalents as of 2024, indicating a cautious approach to market volatility [6] Group 2: Real Estate Investment Options - Rental properties are recognized as a steady source of passive income, but managing them can be burdensome for many investors [7] - Platforms like Arrived allow investors to buy shares in vacation homes or rental properties, starting with investments as low as $100, thus providing a hassle-free way to earn passive income [9] - Accredited investors can invest in commercial real estate through First National Realty Partners (FNRP), with a minimum investment of $50,000, focusing on properties leased by national brands [11][13] - Mogul offers fractional ownership in high-quality rental properties, with an average annual internal rate of return (IRR) of 18.8% and cash-on-cash yields between 10% and 12% [14][15] Group 3: Alternative Asset Classes - Fine art is highlighted as a resilient asset class during market turbulence, with high-net-worth collectors allocating about 20% of their wealth to art in 2025 [16] - Masterworks enables investors to buy fractional shares in high-value artworks, yielding net annualized returns of 14.6%, 17.6%, and 17.8% from previously sold pieces [18]

Gold and silver have long served as classic hedges against inflation. Unlike fiat currency, precious metals can’t be created at will by central banks. And because their value isn’t tied to any single country, currency, or economy, investors often turn to them during periods of market turbulence and geopolitical uncertainty.The record performance of gold in 2025 is one sign that the wealthy are bracing for a rocky stock market.If you’re concerned about where markets might head, here are three potential ports ...

Core Insights - Ray Dalio emphasizes the importance of gold as a diversifier in investment portfolios, especially during economic downturns [1][5][6] - Gold has seen a significant price increase of over 70% in the past year, attracting renewed interest from local prospectors [2][4] - Experts suggest that a 25% allocation to gold in investment portfolios is reasonable, viewing it as an insurance policy against dollar weakness [7] Gold as an Investment - Gold is regarded as a safe haven asset, not subject to unlimited printing by central banks, making it a hedge against inflation [5] - JPMorgan CEO Jamie Dimon predicts that gold prices could rise to $10,000 per ounce, with the current spot price around $4,484 [8] - Gold IRAs offer investors the opportunity to hold physical gold within a retirement account, combining tax advantages with the protective benefits of gold [9] Market Trends - The Federal Reserve Bank of Minneapolis reports that the purchasing power of the U.S. dollar has significantly declined, with $100 in 2025 equating to $12.05 in 1970 [11] - Real estate has also been highlighted as a strong asset for wealth preservation, with housing prices increasing by over 225% in the last 30 years [12] - The current economic environment has made homeownership more challenging, prompting individuals to seek alternative income streams, such as gold prospecting [13]

Grant Cardone does not shy away when it comes to crypto. In September, the billionaire real estate mogul warned firms against copying Michael Saylor’s Bitcoin treasury strategy without having a functioning business as a foundation. Now, he has his own plans to step into the world of Bitcoin treasury. Related: Michael Saylor’s treasury bid pays off big for MicroStrategy Cardone announces Bitcoin treasury IPO plan During an interview with David Gokhshtein, Cardone said he plans to launch a publicly trade ...

A pedestrian walks past the flagship store of luxury retailer Neiman Marcus at Beverly Hills on Dec. 30, 2025. The property was recently sold to New York private real estate investment firm Ashkenazy Acquisition Corp. (Ronaldo Bolanos / Los Angeles Times) The land below the Beverly Hills flagship store of luxury retailer Neiman Marcus has been sold to a New York investor as the owners of the department store chain sell property to pay debts. Neiman Marcus, which has occupied the 9700 Wilshire Boulevard s ...

Group 1 - Northbound Returns shows a strong interest in real assets, financials, and insurance sectors [1] - The company has a deep understanding of the Canadian investment universe, having worked for one of the largest Canadian banks in equity research [1]