The first commercial plot to be tendered on the runway of Hong Kong’s old airport at Kai Tak was withdrawn from sale on Wednesday, after the Lands Department announced it had rejected all nine tenders received for the land.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…
Source : South China Morning Post
Read more…First commercial plot on Kai Tak runway fails to take off as Hong Kong rejects all nine bids for site















