{"id":119033,"date":"2020-10-28T06:30:13","date_gmt":"2020-10-27T23:30:13","guid":{"rendered":"http:\/\/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\/"},"modified":"2020-10-28T07:03:49","modified_gmt":"2020-10-28T00:03:49","slug":"hong-kongs-government-may-have-to-step-up-on-land-sales-as-two-failed-auctions-starve-the-coffers-of-much-needed-revenue","status":"publish","type":"post","link":"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\/","title":{"rendered":"Hong Kong\u2019s government may have to step up on land sales as two failed auctions starve the coffers of much-needed revenue"},"content":{"rendered":"


\nHong 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two failed auctions in October and May.A site in Tung Chung near Hong Kong\u2019s airport and Disney\u2019s resort was withdrawn from tender after the biggest commercial plot to go on the market garnered lukewarm response, depriving the government of HK$5.68 billion. In May, the government lost out on HK$7.1\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong\u2019s government may have to step up on land sales as two failed auctions starve the coffers of much-needed revenue<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong\u2019s government, which depends on land sales for up to a fifth of its...<\/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-119033","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-uXT","jetpack-related-posts":[{"id":116561,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-use-forced-auctions-to-snap-up-hong-kongs-older-buildings-for-redevelopment-amid-citys-land-shortage\/","url_meta":{"origin":119033,"position":0},"title":"Developers use forced auctions to snap up Hong Kong\u2019s older buildings for redevelopment amid city\u2019s land shortage","date":"May 21, 2020","format":false,"excerpt":"\r Some 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\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":119033,"position":1},"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":110084,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/henderson-posts-second-straight-drop-in-interim-revenue-as-one-of-hong-kongs-largest-developers-falls-victim-to-real-estate-slump\/","url_meta":{"origin":119033,"position":2},"title":"Henderson posts second straight drop in interim revenue, as one of Hong Kong\u2019s largest developers falls victim to real estate slump","date":"August 21, 2019","format":false,"excerpt":"\r Henderson Land Development reported its second consecutive double-digit percentage decline in interim revenue, as one of Hong Kong\u2019s largest developers fell victim to the city\u2019s slowing property market.Turnover fell 38 per cent to HK$8.12 billion in the six months ended June, while first-half underlying profit, excluding revaluation gains on\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":119033,"position":3},"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":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":119033,"position":4},"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":109872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-deposit-for-land-sales-will-add-pressure-on-small-firms-tightening-the-big-developers-grip-on-hong-kongs-land-supply\/","url_meta":{"origin":119033,"position":5},"title":"Higher deposit for land sales will add pressure on small firms, tightening the big developers\u2019 grip on Hong Kong\u2019s land supply","date":"August 14, 2019","format":false,"excerpt":"\r The recent move by Hong Kong\u2019s government to double the deposit for land tender sales, raised to deter defaults, will add to the financing pressure on small developers and put them at a disadvantage when they buy land in the world\u2019s most expensive property market, analysts said.A HK$50 million\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\/119033"}],"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=119033"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119033\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=119033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=119033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=119033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}