---
title: "In \"Hong Kong Property,\" the top floor of the International Finance Centre in Central was sold for HKD 321 million, a significant depreciation of 56% compared to seven years ago"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/265483527.md"
description: "The top floor of Central Global Plaza was sold for HKD 321 million, a 56% depreciation from HKD 726 million seven years ago. The property has an area of approximately 20,766 square feet, with a price per square foot of about HKD 15,000, setting a new low in 15 years. The director of Midland Commercial pointed out that the current market rental yield can reach 3.5%, attracting long-term investors. The transaction amount for commercial buildings in October showed a significant rebound, reaching a 52-month high, mainly influenced by Alibaba and Ant Group's purchase of commercial office buildings. It is expected that under the conditions of interest rate cuts and relaxed investment immigration policies, the investment value of commercial properties will be reassessed"
datetime: "2025-11-12T09:30:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265483527.md)
  - [en](https://longbridge.com/en/news/265483527.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265483527.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/265483527.md) | [繁體中文](https://longbridge.com/zh-HK/news/265483527.md)


# In "Hong Kong Property," the top floor of the International Finance Centre in Central was sold for HKD 321 million, a significant depreciation of 56% compared to seven years ago

Central Quality Commercial Building recorded a large transaction by a bank, sold by Hang Seng Bank for approximately HKD 321 million, with a total area of about 20,766 square feet (unverified), at a price of about HKD 15,000 per square foot.

Midland Realty stated that the sold property is a connected unit on the top floor, comprising the entire 26th and 27th floors of the Global Building, enjoying sea views and sold on an "as-is" basis. Information shows that the original owner purchased it for about HKD 726 million at the peak in 2016, with a price per square foot reaching HKD 34,961 at that time. This bank sale represents a significant depreciation of about HKD 405 million compared to seven years ago, a drop of up to 56%; compared to the market peak price of about HKD 44,000 per square foot, the drop is even about 65%, marking a new low in transaction price per square foot for the Global Building in 15 years, since 2010.

Li Zhenlong, Director of Midland Commercial, stated that the transaction price per square foot is about HKD 15,000, and if calculated based on current market rents, the rental yield could reach 3.5% or more, which is quite substantial. Compared to the peak price of about HKD 44,000 per square foot, the current entry cost has significantly decreased, providing excellent return potential for long-term investments.

Li Zhenlong noted that this transaction not only reflects the attractiveness of quality commercial buildings after a deep price correction but also confirms that large funds are flowing back into the commercial property market. In fact, there have been significant signs of recovery in large transactions of commercial buildings recently; in October alone, there were four transactions exceeding HKD 100 million, which, although only one more than the previous month, saw the total amount surge to HKD 8.066 billion, reaching a new high in 52 months, or over four years.

Midland Realty indicated that the significant increase in transaction amounts exceeding HKD 100 million in October was mainly due to Alibaba (09988.HK)(BABA.US) and Ant Group purchasing the multi-story commercial office building at Causeway Bay Island One Center for about HKD 7.2 billion as their Hong Kong headquarters. Driven by this notable transaction, the total transaction amount for commercial buildings exceeding HKD 100 million has recorded over HKD 8.28 billion in the fourth quarter of this year to date, setting a new high for the past eight quarters since the fourth quarter of 2023.

Li Zhenlong believes that with the dual benefits of the U.S. interest rate cut cycle restarting and the government's relaxation of investment immigration thresholds, the investment value of commercial properties is being reassessed, and it is expected to attract more strong investors to take advantage of lower prices to acquire quality assets in core areas, with large transactions continuing to be a focus of market funds. Following a series of shocking market transactions, it is believed that the number and amount of transactions exceeding HKD 100 million in commercial buildings in the fourth quarter of this year are expected to see significant increases

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