{"id":108258,"date":"2019-06-19T07:00:14","date_gmt":"2019-06-19T00:00:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-tender-hong-kong-government-must-introduce-guarantors-higher-deposits-to-prevent-another-kai-tak-fiasco\/"},"modified":"2019-06-19T08:04:26","modified_gmt":"2019-06-19T01:04:26","slug":"land-tender-hong-kong-government-must-introduce-guarantors-higher-deposits-to-prevent-another-kai-tak-fiasco","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-tender-hong-kong-government-must-introduce-guarantors-higher-deposits-to-prevent-another-kai-tak-fiasco\/","title":{"rendered":"Land tender: Hong Kong government must introduce guarantors, higher deposits to prevent another Kai Tak fiasco"},"content":{"rendered":"


\nThe 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 market, according to market observers.Property experts suggest the government should increase the deposit amount steeply from the current HK$25 million to prevent a repeat of such an incident in the future and introduce a guarantor to complete the\u2026
\n
\nSource : South China Morning Post
\nRead more…Land tender: Hong Kong government must introduce guarantors, higher deposits to prevent another Kai Tak fiasco<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The aborted sale of a HK$11.1 billion (US$1.4 billion) plot of prime land has exposed...<\/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-108258","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-sa6","jetpack-related-posts":[{"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":108258,"position":0},"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":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":108258,"position":1},"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":[]},{"id":100997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-builders-pay-us1-billion-for-first-plot-on-runway-of-old-kai-tak-airport\/","url_meta":{"origin":108258,"position":2},"title":"Hong Kong builders pay US$1 billion for first plot on runway of old Kai Tak airport","date":"November 7, 2018","format":false,"excerpt":"\r What a difference six months makes. A plot of prime waterfront land in Hong Kong has sold at a price that is 18 per cent lower than a comparable tender in the same area. A consortium of four major local developers won the auction for the first residential site\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sigh-of-relief-as-second-plot-on-hong-kongs-kai-tak-runway-fetches-more-than-first\/","url_meta":{"origin":108258,"position":3},"title":"Sigh of relief as second plot on Hong Kong\u2019s Kai Tak runway fetches more than first","date":"November 14, 2018","format":false,"excerpt":"\r Hong Kong property observers breathed a sigh of relief on Wednesday when a piece of prime waterfront land at the city\u2019s former airport fetched a higher price than a neighbouring plot a week earlier because of its superior sea views. Goldin Financial Holdings won the tender for the second\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54161,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-lots-worth-hk28-billion-to-set-single-day-sale-record\/","url_meta":{"origin":108258,"position":4},"title":"Two lots worth HK$28 billion to set single day sale record","date":"May 9, 2017","format":false,"excerpt":"\r Two plots that are worth up to HK$28 billion in Central and the Kai Tak area to be sold by government tender is set to land a single day land sale revenue record for Hong Kong, say industry experts. They believe that the commercial site on Murray Road will\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":108258,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108258"}],"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=108258"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108258\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=108258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=108258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=108258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}