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MTR draws 11 bids for the priciest land plot in Lohas Park as the return of Hong Kong’s property market bull run lifts confidence

Lohas Park has drawn 11 bids for the latest phase of its residential development in the New Territories, as developers vie for the land parcel near the sole shopping centre in Hong Kong’s largest residential community.Eleven bids were submitted for the plot, which can accommodate up to 1,850 homes on 950,000 square feet (88,200 square metres) of gross floor area. That translates into more than one fifth of the 8,800 private flats expected to be built on the 15 private residential sites to be… Source link

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HK$10 billion Kai Tak site attracts six bids as firms say they are positive about Hong Kong housing market

Six developers have submitted tenders for a site in Kai Tak, Hong Kong’s Lands Department said on Friday, with companies saying they remained positive about the city’s housing sector following a recent pick up in prices and dovish monetary policy that has rekindled a cooling market.Among the companies vying for Area 4B Site 1 in Kai Tak are Sun Hung Kai Properties, CK Asset, Chinachem Group, K&K Property and a joint venture between K Wah International and Sino Land. A consortium of New World… Source link

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Property 

Is Hong Kong’s housing market recovering? Plot of land in Tai Po attracts more bids than expected

A parcel of residential land for sale in Tai Po fetched more bids than anticipated in a possible sign that Hong Kong’s developers are becoming more optimistic about the flagging market. The plot at Pak Shek Kok had received 10 bids when the tender closed at noon on Friday, beating Knight Frank’s estimate of five to eight bids. The builders that submitted bids included Sun Hung Kai Properties, CK Asset Holdings, Henderson Land Development, Wheelock Properties, K Wah International, K&K Property, Far East Consortium, KWG Property and a joint venture…

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First commercial plot on Kai Tak runway fails to take off as Hong Kong rejects all nine bids for site

The first commercial plot to be tendered on the runway of Hong Kong’s old airport at Kai Tak was withdrawn from sale on Wednesday, after the Lands Department announced it had rejected all nine tenders received for the land. That all tenders failed to meet the government’s requirements suggests developers were still cautious about the Hong Kong commercial market, despite comments by analysts that home prices in the city could rise this year. Sun Hung Kai pays US$1.43 billion for Kai Tak residential plot in subdued tender that underscores downbeat…

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Scenic site at Kai Tak draws fewer than expected bids from property developers

The fourth residential plot at the city’s former Kai Tak airport, regarded as the most scenic, has missed analyst expectations, as slightly fewer than expected developers submitted tenders on Friday, reflecting downbeat sentiment as home prices come under further pressure. The 117,900 square foot plot, located on land jutting out into Victoria Harbour on what was Hong Kong airport’s former runway, fetched six bids at the closure of tender at noon, falling short of Knight Frank’s expectation of seven to 10 bids. Thomas Lam, executive director at Knight Frank attributed…

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Fewer developers submit bids for Kai Tak runway plot even as valuation is slashed to January 2017 levels

The third residential parcel on Kai Tak’s runway missed market expectations as fewer than expected developers submitted tenders, while one surveyor slashed its valuation of the plot to January 2017 levels because of downbeat sentiment, lack of full sea view and retail component. The 97,393 square feet plot on the site of Hong Kong airport’s former runway fetched six bids at the close of tender on Friday noon, missing expectations from surveyors who had expected at least eight bids. Intrepid 98-year-old woman buys US$1.9 million flat as Sino Land’s discounted…

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Hong Kong’s biggest and last data centre plot fetches nine bids from top industry players

The biggest and last remaining land parcel for a data centre ever to be sold via tender by the Hong Kong government has received nine bids, but markets observers say more needs to be done to realise its dream of becoming a smart city. The bidders for the 295,405 square foot plot, in Tseung Kwan O’s Wan Po Road, which closed on Friday, include Sino Land, Grand Ming Group, Far East Consortium International, Goodman Group and Hong Kong-based data centre operator Oneasia Network. Colliers estimated the parcel to be worth…

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Vietnam 

Nguyễn Kim Holdings bids to acquire Lâm Đồng Pharmaceutical – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Nguyễn Kim Investment and Development Joint Stock Company (Nguyễn Kim Holdings) has submitted a public bid to purchase more than 2.1 million shares of Lâm Đồng Pharmaceutical Joint Stock Company, aiming to control the drug maker. This purchase would be equivalent to 27.14 per cent of total voting shares in Lâm Đồng Pharmaceutical. If the deal goes through, Nguyễn Kim will raise its stake to 51.14 per cent. The offering price is set at VNĐ23,500 (US$1) per share, which means Nguyễn…

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More than 160 Hong Kong businesses to take part in import expo in Shanghai as China bids to show eagerness for foreign investment amid US trade war

More than 160 Hong Kong businesses will take part in the inaugural China International Import Expo next month, with the country’s biggest trade fair of the year poised to demonstrate the country’s eagerness for foreign investment amid its economic stand-off with the US, the city’s minister has said. Secretary for Commerce and Economic Development Edward Yau Tang-wah said Hong Kong had been and would continue to be a strategic gateway and important hub connecting China to the world. A total of 2,800 companies from 130 countries are expected to take…

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Property 

Residential site in Tuen Mun receives just three bids in worst response to Hong Kong land sale since 2010

A small plot of land in the New Territories has received the poorest response since Hong Kong’s government resumed land sales in 2010, in the latest sign the world’s priciest property market is on the wane. The city’s Lands Department said it had received three bids from developers for the parcel of residential land in Tuen Mun after the tender closed at noon on Friday. No government land sale has received fewer bids in the last eight years. The dismal response comes just three days after Hong Kong scrapped the…

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