Home 

Hong Kong needs to speed up the land lease renewal process to help foster calm amid countdown to 2047

Surveyors are called in from time to time by different stakeholders to consult on land tenure in Hong Kong. The questions put to them stem largely from the fact that land parcels located to the north of Boundary Street will expire on June 30, 2047, while some leases on Kowloon Peninsula and Hong Kong Island will expire before that date without a right of renewal.During the election campaign leading up to the 2016 Legislative Council election, some candidates ran with the doomsday argument that… Source link

Read More
Home 

Hong Kong developer Chinachem sues co-working operator Kr Space for failing to execute One Hennessy lease

Chinachem Group, the chemical producer-turned-property developer, has slapped a law suit on one of China’s biggest co-working space operators for reneging on a contract, according to a writ filed with the Hong Kong High Court.The Hong Kong developer has sued Kr Space, a spin-off of technology platform 36kr.com, claiming HK$500.9 million (US$63.8 million) in damages for breaching a contract to take up seven floors at Chinachem’s One Hennessy building in Wan Chai, according to the writ.Chinachem… Source link

Read More
Singapore 

A question of time: The great HDB lease decay debate, Singapore News

Is it just math, or is there merit in studying the data? How much does quantitative research add to the issues at hand? Old flats – once the storehouse of wealth for owners should their homes be chosen for en-bloc redevelopment – have become a source of anxiety for residents after the government two years ago cautioned against speculation of state buyouts of these assets. The idea that the value of one’s home can eventually run down to zero is a terrifying thought, one which increasingly more researchers are studying…

Read More
Home 

Filipino tycoon Lucio Tan’s Hong Kong leasing business of 500 subdivided flats halts after breaching land lease rules

Eton Properties, owned by the family of Filipino magnate Lucio Tan, has been forced to put a hard stop to its leasing business of more than 500 subdivided flats in Hong Kong after breaching land lease rules. The Lands Department also ordered the developer to return the properties to their original design or risk confiscation. Eton’s marketing manager Cynthia Cheung said the company would change the use of the affected properties but did not provide details. Since August last year, the developer had converted three luxury residential developments to house…

Read More