Hong Kong’s government has banned the real estate magnate Pan Sutong from selling residential property off the drawing plan until its completion, in an unprecedented exercise of its mandate amid concerns over the developer’s cash crunch.Grand Homm, a luxury apartment project in the Ho Man Tin residential area of Kowloon district, had its presale consent cancelled on August 27, according to Lands Department records on September 6.The ban, the first exercise of the local authority’s mandate since…
Source : South China Morning Post
Read more…Hong Kong bans Pan Sutong from pre-selling Grand Homm flats in Ho Man Tin amid concern over developer’s cash crunch















