{"id":113477,"date":"2020-01-08T07:00:19","date_gmt":"2020-01-08T00:00:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-faces-hk10-billion-potential-shortfall-in-land-sales-revenue-as-city-faces-first-fiscal-deficit-in-15-years\/"},"modified":"2020-01-08T07:13:21","modified_gmt":"2020-01-08T00:13:21","slug":"hong-kong-faces-hk10-billion-potential-shortfall-in-land-sales-revenue-as-city-faces-first-fiscal-deficit-in-15-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-faces-hk10-billion-potential-shortfall-in-land-sales-revenue-as-city-faces-first-fiscal-deficit-in-15-years\/","title":{"rendered":"Hong Kong faces HK$10 billion potential shortfall in land sales revenue as city faces first fiscal deficit in 15 years"},"content":{"rendered":"


\nHong Kong is likely to miss its target of collecting HK$143 billion (US$18.3 billion) in revenue from land sales and premium revenue in the current financial year to March 31, likely contributing to the city\u2019s first budget deficit in 15 years.The government has generated HK$113.8 billion of such revenue between April 1 and December 18, 2019, according to calculations based on Lands Department records. Land sales earmarked for the rest of current fiscal year could only possibly raise the tally\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong faces HK billion potential shortfall in land sales revenue as city faces first fiscal deficit in 15 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong is likely to miss its target of collecting HK$143 billion (US$18.3 billion) in...<\/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-113477","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-twh","jetpack-related-posts":[{"id":119620,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-government-to-sell-four-plots-next-quarter-as-it-looks-to-shore-up-its-land-sales-revenue\/","url_meta":{"origin":113477,"position":0},"title":"Hong Kong government to sell four plots next quarter as it looks to shore up its land sales revenue","date":"December 29, 2020","format":false,"excerpt":"\r Hong Kong\u2019s government, staring at its biggest fiscal deficit in years, faces about HK$60 billion (US$7.7 billion) of potential shortfall in land sales revenue as developers\u2019 cautious approach to investment had forced several commercial sites to be withdrawn from tender.The government is pressing ahead with selling four parcels of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39195,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-developers-hong-kong-government-says-xie-xie\/","url_meta":{"origin":113477,"position":1},"title":"Chinese developers, Hong Kong government says xie xie","date":"December 29, 2016","format":false,"excerpt":"\r Hong Kong\u2019s government revenue from land sales rose to a record HK$71.88 billion in the first nine months of the 2016 fiscal year ending March 31, as HNA Group led mainland Chinese developers in their buying spree in the city. With the final HK$5.868 billion from a sale at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104513,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-sino-land-reports-half-year-profit-of-hk2-37-billion-expects-improved-sales-in-second-half\/","url_meta":{"origin":113477,"position":2},"title":"Hong Kong\u2019s Sino Land reports half-year profit of HK$2.37 billion, expects improved sales in second half","date":"February 28, 2019","format":false,"excerpt":"\r Hong Kong property developer Sino Land reported a 73 per cent drop in underlying net profit attributable to shareholders for the July to December period, with the decline attributed to distortions created by one-off asset disposals in the year earlier period.Underlying profit, excluding the revaluation gains on investment property,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34722,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/outrageous-laments-analyst-as-hong-kong-government-land-sale-revenue-surges-to-hk52-84b\/","url_meta":{"origin":113477,"position":3},"title":"\u2018Outrageous\u2019 laments analyst, as Hong Kong government land sale revenue surges to HK$52.84b","date":"November 17, 2016","format":false,"excerpt":"\r Hong Kong government land sale revenue by tender has reached HK$52.84 billion for the seven months to November 16, up 22 per cent from the full year figure for 2015 as fierce competition drove up land prices. For the financial year ended March 31, 2015, the government had generated\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82540,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/technology-will-help-move-the-needle-in-hong-kongs-traditional-property-market\/","url_meta":{"origin":113477,"position":4},"title":"Technology will help move the needle in Hong Kong\u2019s traditional property market","date":"March 13, 2018","format":false,"excerpt":"\r Hong Kong developers and occupiers need to incorporate property technology to ensure the city\u2019s real estate remains attractive. At the start of the Year of the Dog, the Hong Kong Government unveiled the annual budget with a record-breaking surplus of HK$138 billion (US$17.7 billion). Land sales continue to be\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119033,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-government-may-have-to-step-up-on-land-sales-as-two-failed-auctions-starve-the-coffers-of-much-needed-revenue\/","url_meta":{"origin":113477,"position":5},"title":"Hong Kong\u2019s government may have to step up on land sales as two failed auctions starve the coffers of much-needed revenue","date":"October 28, 2020","format":false,"excerpt":"\r Hong Kong\u2019s government, which depends on land sales for up to a fifth of its annual fiscal revenue, may have to put more plots on the market to fill its coffers amid the city\u2019s worst recession, after two failed auctions in October and May.A site in Tung Chung near\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\/113477"}],"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=113477"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113477\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}