Property News · March 21, 2018

Some elite Hong Kong sports clubs need only admit a few new members to cover land fee plan


Some elite, cash-rich sports clubs in Hong Kong only need to admit as few as three new members to cover a proposed increase in land premiums in a one-off payment for lease renewal, contrary to what the government told the public, a land expert has claimed.
The findings by former surveying and planning sector lawmaker Edward Yiu Chung-yim released on Wednesday came after officials announced a plan to raise the one-off fee – paid every 15 years when private sports clubs renew the leases for…

Source : South China Morning Post
Read more…Some elite Hong Kong sports clubs need only admit a few new members to cover land fee plan