{"id":107982,"date":"2019-06-11T19:04:09","date_gmt":"2019-06-11T12:04:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-walks-away-from-hk11-1-billion-kai-tak-project-citing-social-contradiction-and-economic-instability\/"},"modified":"2019-06-11T20:05:52","modified_gmt":"2019-06-11T13:05:52","slug":"hong-kong-developer-walks-away-from-hk11-1-billion-kai-tak-project-citing-social-contradiction-and-economic-instability","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-walks-away-from-hk11-1-billion-kai-tak-project-citing-social-contradiction-and-economic-instability\/","title":{"rendered":"Hong Kong developer walks away from HK$11.1 billion Kai Tak project, citing \u2018social contradiction and economic instability\u2019"},"content":{"rendered":"


\nThe Hong Kong developer that beat out several of the city’s biggest and wealthiest property groups for a commercial plot at the former Kai Tak airport in May has had a change of mind after less than a month, saying it will abandon the offer, citing \u201csocial contradiction and economic instability\u201d.Goldin Financial Holdings told a telephone conference on Tuesday that it was rescinding its HK$11.1 billion (US$1.42 billion) winning bid for 4C Site 4 at Kai Tak, forfeiting its HK$25 million deposit\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong developer walks away from HK.1 billion Kai Tak project, citing \u2018social contradiction and economic instability\u2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Hong Kong developer that beat out several of the city’s biggest and wealthiest property...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107982","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-s5E","jetpack-related-posts":[{"id":110925,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abandoned-hk11-1-billion-kai-tak-commercial-plot-has-its-wings-clipped-by-protests-is-back-on-market-for-40-per-cent-less\/","url_meta":{"origin":107982,"position":0},"title":"Abandoned HK$11.1 billion Kai Tak commercial plot has its wings clipped by protests, is back on market for 40 per cent less","date":"September 20, 2019","format":false,"excerpt":"\r A commercial site on the runway of Hong Kong\u2019s former airport that was abandoned because of \u201csocial contradiction and economic instability\u201d on June 11, following a successful record bid of HK$11.1 billion (US$1.4 billion), is back on the market \u2013 but may be worth 40 per cent less.The Lands\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107142,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-seafront-commercial-plot-of-land-on-kai-tak-runway-sells-for-record-hk11-1-billion\/","url_meta":{"origin":107982,"position":1},"title":"First seafront commercial plot of land on Kai Tak runway sells for record HK$11.1 billion","date":"May 15, 2019","format":false,"excerpt":"\r The first seafront commercial plot of land on the runway of Hong Kong\u2019s former airport, Kai Tak, has sold for a record HK$11.1 billion (US$1.41 billion), the city\u2019s Lands Department said on Wednesday.Hong Kong developer Goldin Financial Holdings shrugged off the turmoil of an escalating trade war to win\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-secures-extension-for-hk2-4-billion-loan-related-to-kai-tak-project\/","url_meta":{"origin":107982,"position":2},"title":"Hong Kong developer secures extension for HK$2.4 billion loan related to Kai Tak project","date":"January 15, 2018","format":false,"excerpt":"\r Chinese conglomerate HNA Group has secured a six-month extension for a HK$2.4 billion (US$306.75 million) bridging loan related to its residential project at the site of Hong Kong\u2019s old airport. Hong Kong International Investment Group, formerly known as HNA Holding International Investment Group, announced the extension before the loan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109760,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-government-doubles-deposit-for-land-tenders-to-hk50-million-after-goldins-abandoned-kai-tak-sale\/","url_meta":{"origin":107982,"position":3},"title":"Hong Kong government doubles deposit for land tenders to HK$50 million after Goldin\u2019s abandoned Kai Tak sale","date":"August 9, 2019","format":false,"excerpt":"\r The Lands Department said on Thursday it is doubling the deposit for government sites put up for tender to as much as HK$50 million (US$6.3 million) after a buyer walked away from a winning bid of HK$11.1 billion for a plot of prime land in June.The rule is effective\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108258,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-tender-hong-kong-government-must-introduce-guarantors-higher-deposits-to-prevent-another-kai-tak-fiasco\/","url_meta":{"origin":107982,"position":4},"title":"Land tender: Hong Kong government must introduce guarantors, higher deposits to prevent another Kai Tak fiasco","date":"June 19, 2019","format":false,"excerpt":"\r The aborted sale of a HK$11.1 billion (US$1.4 billion) plot of prime land has exposed a serious flaw in the tender process that may cause the Hong Kong government to suffer a huge loss if it is unable to sell the site for the same price in a depressed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139162,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-sino-land-wins-kai-tak-land-tender-with-a-676-million-bid-a-nine-year-low-beating-a-crowded-field-of-rivals\/","url_meta":{"origin":107982,"position":5},"title":"Hong Kong developer Sino Land wins Kai Tak land tender with a $676 million bid, a nine year-low, beating a crowded field of rivals","date":"September 13, 2023","format":false,"excerpt":"\r Sino Land outbid its rivals with a winning price of HK$5.3 billion for a plot of land in Hong Kong\u2019s Kai Tak neighbourhood, which some analysts said was conservative given the stagnating economic environment.\r \r Source : South China Morning Post\r Read more...Hong Kong developer Sino Land wins Kai\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107982"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=107982"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107982\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=107982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=107982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=107982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}