Two mainland Chinese developers face an expensive lesson for being late.
In the past year, China Evergrande Group and Country Garden paid huge prices for land for residential development in the New Territories. But their Hong Kong counterparts snapped up similar land plots for far less as little as three years ago.
Now, as Hong Kong banks begin to raise mortgage rates, potentially dampening demand and home prices, the mainland Chinese companies face the prospect of skimpy profits – or…
Source : South China Morning Post
Read more…Mainland developers in Hong Kong at risk of losses after paying high prices for land















