{"id":116221,"date":"2020-05-11T11:53:42","date_gmt":"2020-05-11T04:53:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldin-financial-loses-record-us331-5-million-on-resale-of-land-at-kai-tak-as-coronavirus-darkens-outlook-for-hong-kongs-property-market\/"},"modified":"2020-05-11T12:06:39","modified_gmt":"2020-05-11T05:06:39","slug":"goldin-financial-loses-record-us331-5-million-on-resale-of-land-at-kai-tak-as-coronavirus-darkens-outlook-for-hong-kongs-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldin-financial-loses-record-us331-5-million-on-resale-of-land-at-kai-tak-as-coronavirus-darkens-outlook-for-hong-kongs-property-market\/","title":{"rendered":"Goldin Financial loses record US$331.5 million on resale of land at Kai Tak as coronavirus darkens outlook for Hong Kong\u2019s property market"},"content":{"rendered":"


\nA Hong Kong developer has suffered the biggest loss on a land sale in the city\u2019s history, offloading a residential plot at Kai Tak to raise cash to help it weather a market slump caused by the coronavirus pandemic.Goldin Financial Holdings, controlled by Pan Sutong, one of Hong Kong\u2019s richest men, has agreed to sell the plot at the site of the former international airport for an estimated loss of HK$2.57 billion (US$331.56 million). It cited the uncertain market outlook as the city\u2019s economy\u2026
\n
\nSource : South China Morning Post
\nRead more…Goldin Financial loses record US1.5 million on resale of land at Kai Tak as coronavirus darkens outlook for Hong Kong\u2019s property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A Hong Kong developer has suffered the biggest loss on a land sale in the...<\/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-116221","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-uex","jetpack-related-posts":[{"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":116221,"position":0},"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":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":116221,"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":118014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-distressed-developer-loses-us58-million-in-12-days-in-u-turn-on-kai-tak-land-deal-amid-scramble-with-hostile-creditors\/","url_meta":{"origin":116221,"position":2},"title":"Hong Kong distressed developer loses US$58 million in 12 days in U-turn on Kai Tak land deal amid scramble with hostile creditors","date":"July 29, 2020","format":false,"excerpt":"\r Cash-strapped Hong Kong developer Goldin Financial Holdings said it had found a new buyer for its waterfront residential plot in Kai Tak, less than two weeks after agreeing to sell the property to an offshore buyer. The change of mind comes with an immediate loss of HK$450 million (US$58\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123685,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/outlook-dims-on-kai-taks-waterfront-land-as-hong-kongs-northern-metropolis-plan-and-land-conversion-add-to-citys-supply-glut\/","url_meta":{"origin":116221,"position":3},"title":"Outlook dims on Kai Tak\u2019s waterfront land as Hong Kong\u2019s Northern Metropolis plan and land conversion add to city\u2019s supply glut","date":"December 8, 2021","format":false,"excerpt":"\r A distressed sale last week at Hong Kong\u2019s former Kai Tak airport site has clouded the outlook of the city\u2019s property market, as an expected glut of residential land weighs on prices.Five plots of land at Kai Tak, valued together at up to HK$71.3 billion (US$9.15 billion), may fail\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116311,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-withdraws-land-sale-at-kai-tak-airport-site-after-tepid-bids-by-developers-amid-citys-economic-contraction\/","url_meta":{"origin":116221,"position":4},"title":"Hong Kong withdraws land sale at Kai Tak Airport site after tepid bids by developers amid city\u2019s economic contraction","date":"May 13, 2020","format":false,"excerpt":"\r Hong Kong\u2019s government has withdrawn a land sale at the city\u2019s former Kai Tak Airport site after a tepid response from bidders, as the city\u2019s worst economic contraction in decades amid the coronavirus pandemic deterred developers from long-term investments.A plot at the former Kai Tak Airport site, which can\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87753,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kai-tak-plot-could-fetch-us3-25-billion-smashing-records-for-hong-kong-land-sales\/","url_meta":{"origin":116221,"position":5},"title":"Kai Tak plot could fetch US$3.25 billion, smashing records for Hong Kong land sales","date":"May 11, 2018","format":false,"excerpt":"\r Developers bidding for what could become the most expensive plot of residential land in Hong Kong\u2019s history are forming consortiums in what analysts say may be an attempt to spread the financial risk. At least five bids had been submitted for the parcel on the site of Hong Kong\u2019s\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\/116221"}],"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=116221"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116221\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}