The mainlandization of Hong Kong continues with whole office buildings being snapped up by mainland companies.
Evergrande Real Estate has agreed to buy Mass Mutual Tower in Wan Chai from Chinese Estates Holdings for a record HK$12.5 billion. The happy seller? Joseph Lau Luen-hung, who snapped up the $48 million blue diamond for his little Josephine a day earlier.
On the same day as the Mass Mutal Tower sale, Chinese insurer China Life bought an office block tower with a two-storey retail block at One HarbourGate in Hung Hom from Wheelock & Co. for HK$5.85 billion.
Experts say this trend will continue as more mainland companies expand their presence in Hong Kong, snapping up office space in prime locations...
So it looks like we will have more mainland landlords... is this a good thing or a bad thing?
Economically Hong Kong needs the money, but in the long term surely this just accelerates the pace at which the city integrates with the motherland?
In the meantime, tensions between mainlanders and locals continue to simmer.
This afternoon I went to the Body Shop in Times Square to buy something before going back to the office and a young mainland man was shouting loudly and angrily at one of the staff there. She looked completely unfazed even though he sounded threatening.
Money is what drives our relationship, not mutual respect.
And as long as they keep throwing money at Hong Kong, staff will have to put up with outrageous behaviour, while the landlords -- more and more mainland ones -- will be raking it in... What do they care?