Property News · February 27, 2019

Mainland Chinese developers take redevelopment route to shore up Hong Kong land bank as they fail to win government tenders


Mainland Chinese builders appear to be shifting their Hong Kong land bank strategy by acquiring old buildings for redevelopment, as fierce competition and Beijing’s capital outflow restrictions make it difficult to secure plots in government tenders.Last year, they submitted 39 compulsory en-bloc sale applications to Hong Kong’s Lands Tribunal, up 160 per cent from 2017, according to JLL’s Residential Sales Market Monitor released on Tuesday.“As mainland developers are finding it more difficult…

Source : South China Morning Post
Read more…Mainland Chinese developers take redevelopment route to shore up Hong Kong land bank as they fail to win government tenders