{"id":116561,"date":"2020-05-21T06:15:07","date_gmt":"2020-05-20T23:15:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-use-forced-auctions-to-snap-up-hong-kongs-older-buildings-for-redevelopment-amid-citys-land-shortage\/"},"modified":"2020-05-21T07:08:48","modified_gmt":"2020-05-21T00:08:48","slug":"developers-use-forced-auctions-to-snap-up-hong-kongs-older-buildings-for-redevelopment-amid-citys-land-shortage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-use-forced-auctions-to-snap-up-hong-kongs-older-buildings-for-redevelopment-amid-citys-land-shortage\/","title":{"rendered":"Developers use forced auctions to snap up Hong Kong\u2019s older buildings for redevelopment amid city\u2019s land shortage"},"content":{"rendered":"


\nSome of Hong Kong\u2019s ageing residential buildings are being snapped up for redevelopment through compulsory purchase orders amid a shortage of land in the city.Billionaire Edwin Leong\u2019s Tai Hung Fai Enterprise bought a 61-year old building in Sai Ying Pun while Hip Shing Hong acquired another old building in Shau Kei Wan on Wednesday.Both buildings were worth HK$700 million (US$90.32 million) and were bought under the Land (Compulsory Sale for Redevelopment) Ordinance. The law enables developers\u2026
\n
\nSource : South China Morning Post
\nRead more…Developers use forced auctions to snap up Hong Kong\u2019s older buildings for redevelopment amid city\u2019s land shortage<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Some of Hong Kong\u2019s ageing residential buildings are being snapped up for redevelopment through compulsory...<\/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-116561","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-uk1","jetpack-related-posts":[{"id":100088,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-chinese-developers-eye-hong-kongs-ageing-residential-blocks-for-redevelopment\/","url_meta":{"origin":116561,"position":0},"title":"Mainland Chinese developers eye Hong Kong\u2019s ageing residential blocks for redevelopment","date":"October 18, 2018","format":false,"excerpt":"\r A wave of mainland Chinese firms have started hunting for old buildings in Hong Kong\u2019s urban areas, in a bid to acquire cheap land for redevelopment in the world\u2019s most expensive property market. As of October 4, there were 25 applications submitted by developers for compulsory en-bloc sale, according\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104445,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-chinese-developers-take-redevelopment-route-to-shore-up-hong-kong-land-bank-as-they-fail-to-win-government-tenders\/","url_meta":{"origin":116561,"position":1},"title":"Mainland Chinese developers take redevelopment route to shore up Hong Kong land bank as they fail to win government tenders","date":"February 27, 2019","format":false,"excerpt":"\r Mainland Chinese builders appear to be shifting their Hong Kong land bank strategy by acquiring old buildings for redevelopment, as fierce competition and Beijing\u2019s capital outflow restrictions make it difficult to secure plots in government tenders.Last year, they submitted 39 compulsory en-bloc sale applications to Hong Kong\u2019s Lands Tribunal,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/old-is-gold-as-chinese-firms-target-hong-kong-buildings-older-than-50-years-for-redevelopment-in-bid-to-cut-costs-boost-margins\/","url_meta":{"origin":116561,"position":2},"title":"Old is gold as Chinese firms target Hong Kong buildings older than 50 years for redevelopment in bid to cut costs, boost margins","date":"April 30, 2019","format":false,"excerpt":"\r The number of compulsory auctions in Hong Kong has risen since last year, as land acquired through this route is cheaper than plots bought through government tender.\u201cThe main reason is that the land offered [for tender] by the government has a high value at several billion. A project can\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108470,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-developers-snap-up-discounted-kai-tak-land-as-hong-kongs-mood-for-property-sours-amid-protest-rallies-and-trade-war\/","url_meta":{"origin":116561,"position":3},"title":"Chinese developers snap up discounted Kai Tak land as Hong Kong\u2019s mood for property sours amid protest rallies and trade war","date":"June 26, 2019","format":false,"excerpt":"\r Two mainland Chinese developers bought a plot of residential land on the runway of Hong Kong\u2019s former Kai Tak airport, paying a lower-than-expected price for the oceanfront property as the city\u2019s biggest public protests in decades sapped appetite for investments amid a US-China trade war.China Resources Land and Poly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123098,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/small-hong-kong-developers-spend-us2-6-billion-in-land-property-acquisition-binge-in-past-12-months\/","url_meta":{"origin":116561,"position":4},"title":"Small Hong Kong developers spend US$2.6 billion in land, property acquisition binge in past 12 months","date":"November 9, 2021","format":false,"excerpt":"\r Hong Kong\u2019s small and mid-sized developers are accelerating their pace of accumulating land banks as they bet on an economic revival and chronic housing shortage to keep home prices at elevated levels.Wang On Properties, Kowloon Development, HKR International and Lai Sun Development have invested nearly HK$20 billion (US$2.6 billion)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57738,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/henderson-land-buys-53-year-old-kowloon-residential-block-for-us216m\/","url_meta":{"origin":116561,"position":5},"title":"Henderson Land buys 53-year-old Kowloon residential block for US$216m","date":"June 13, 2017","format":false,"excerpt":"\r Henderson Land Development, chaired by property tycoon Lee Shau-kee, has paid the reserve price of HK$1.689 billion (US$216.56 million) for a 53-year-old residential block in Tai Kok Tsui, an area west of Mong Kok in Kowloon, which it aims to redevelop. With government land sales remaining scarce, the Hoi\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\/116561"}],"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=116561"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116561\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}