Property News · May 13, 2020

Hong Kong withdraws land sale at Kai Tak Airport site after tepid bids by developers amid city’s economic contraction


Hong Kong’s government has withdrawn a land sale at the city’s former Kai Tak Airport site after a tepid response from bidders, as the city’s worst economic contraction in decades amid the coronavirus pandemic deterred developers from long-term investments.A plot at the former Kai Tak Airport site, which can yield 1.16 million square feet (107,767 square metres) in gross floor area, failed to sell because it “failed to meet the government’s reserve price,” according to a statement by the Lands…

Source : South China Morning Post
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