Property News · August 9, 2019

Hong Kong government doubles deposit for land tenders to HK$50 million after Goldin’s abandoned Kai Tak sale


The Lands Department said on Thursday it is doubling the deposit for government sites put up for tender to as much as HK$50 million (US$6.3 million) after a buyer walked away from a winning bid of HK$11.1 billion for a plot of prime land in June.The rule is effective immediately and the deposit would apply to all land sales with an estimated value of HK$400 million or more. Deposits for sites valued between HK$100 million to less than HK$400 million will range from HK$10 million to HK$40…

Source : South China Morning Post
Read more…Hong Kong government doubles deposit for land tenders to HK million after Goldin’s abandoned Kai Tak sale

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