Property News · December 29, 2020

Hong Kong government to sell four plots next quarter as it looks to shore up its land sales revenue


Hong Kong’s government, staring at its biggest fiscal deficit in years, faces about HK$60 billion (US$7.7 billion) of potential shortfall in land sales revenue as developers’ cautious approach to investment had forced several commercial sites to be withdrawn from tender.The government is pressing ahead with selling four parcels of land in the last quarter of the current financial year ending March 31 as it looks to narrow the budget shortfall of HK$300 billion.Four sites – three residential and…

Source : South China Morning Post
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