Hong Kong – The real estate landscape in Hong Kong is entering a tumultuous phase, with mounting financial pressure on property developers and lenders—casting a shadow over an industry that contributes nearly 25% of the region’s GDP. 1. Bond Maturities Soaring, Sector in Jeopardy According to data analyzed by Reuters, the debt-laden developers of Hong Kong face a drastic rise in bond repayment obligations. Maturities due in 2026 are projected at USD 7.1 billion , a sharp jump from USD 4.2 billion in 2025—an increase that could strain liquidity across the industry. 2. Defaults Begin with Road King Infrastructure Road King has become the first Hong Kong developer to default on bond payments since the region’s property crisis began in 2021. The company failed to make a USD 11.3 million coupon payment after a 30-day grace period. Officials cite plummeting sales, limited access to capital, and a persistent downturn in both Hong Kong and mainland China markets as key contributors to thi...
Los Angeles – The lives of global celebrities are not only defined by red carpet appearances but also by the extraordinary homes they retreat to. Behind towering gates and sprawling gardens lie stories of design, opulence, and personal touches that reflect the personalities of their famous owners. Here’s a closer look at five of the most unique luxury celebrity residences in the world. 1. Drake – “The Embassy,” Toronto The Canadian rapper’s palatial 4,600-square-meter mansion, dubbed “The Embassy,” was designed by architect Ferris Rafauli as a modern fortress. It features a full-sized NBA indoor basketball court, a black marble swimming pool, and a piano room adorned with a Swarovski crystal chandelier. The monochrome interiors exude Drake’s signature masculine elegance. 2. Beyoncé & Jay-Z – Bel-Air Mansion, Los Angeles This music power couple owns an $88 million estate in Bel-Air, notable for its multi-layered security system and seven swimming pools scattered throughout...