Cash-rich Hong Kong companies are increasingly snapping up prime land on the mainland, which used to be few and far between until recently, as their Chinese rivals weighed down by debtavoid taking part in land sales.Shui On Land, the flagship property company of the Hong Kong-based Shui On Group, bought three residential parcels in Wuhan, the capital of Hubei province for some 17 billion yuan (US$2.67 billion), according to an exchange filing on Tuesday.The Shanghai-headquartered developer…
Source : South China Morning Post
Read more…Shui On Land cashes in on opportunity to build land bank in China amid depressed buying sentiment
