Property News · December 30, 2018

China developer’s net profit at Hong Kong’s old Kai Tak airport to lose altitude amid turbulence in property market


China Overseas Land & Investment is likely to see about a 15 per cent profit margin on its latest HK$8.03 billion parcel acquisition at the city’s old airport site, far less than the windfall it made five years ago on its first purchases there, analysts say.
China Overseas was the first developer to buy land at Kai Tak, site of the city’s old airport known for nail-biting manoeuvring by pilots to avoid mountains and buildings.
That was in 2013, when the developer paid far less…

Source : South China Morning Post
Read more…China developer’s net profit at Hong Kong’s old Kai Tak airport to lose altitude amid turbulence in property market