Property News · June 11, 2019

Hong Kong developer walks away from HK$11.1 billion Kai Tak project, citing ‘social contradiction and economic instability’


The Hong Kong developer that beat out several of the city’s biggest and wealthiest property groups for a commercial plot at the former Kai Tak airport in May has had a change of mind after less than a month, saying it will abandon the offer, citing “social contradiction and economic instability”.Goldin Financial Holdings told a telephone conference on Tuesday that it was rescinding its HK$11.1 billion (US$1.42 billion) winning bid for 4C Site 4 at Kai Tak, forfeiting its HK$25 million deposit…

Source : South China Morning Post
Read more…Hong Kong developer walks away from HK.1 billion Kai Tak project, citing ‘social contradiction and economic instability’

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