{"id":25575,"date":"2016-09-09T18:43:08","date_gmt":"2016-09-09T11:43:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/billionaire-developer-flummoxed-by-hong-kong-land-prices\/"},"modified":"2016-09-09T18:55:53","modified_gmt":"2016-09-09T11:55:53","slug":"billionaire-developer-flummoxed-by-hong-kong-land-prices","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/billionaire-developer-flummoxed-by-hong-kong-land-prices\/","title":{"rendered":"Billionaire developer flummoxed by Hong Kong land prices"},"content":{"rendered":"


\nLui Che-Woo revealed that he\u2019s having trouble reading the market
\nHong Kong skyline at night. cozyta \/ Shutterstock
\nOctogenarian billionaire Lui Che-Woo is struggling to read Hong Kong\u2019s property market at the moment.
\nAfter more than 50 years as a leading developer in the city-state, he has failed to win any land bid this year.
\n\u201cI can\u2019t see clearly what\u2019s happening in Hong Kong\u2019s property market,\u201d 87-year-old Lui said in an interview.
\n\u201cRecently land prices have surged so much. I really don\u2019t know what\u2019s happening right now. I need time to think quietly for a while before figuring out the situation we are in.\u201d
\nLui\u2019s listed property arm, K Wah International Holdings, has submitted 16 unsuccessful tender bids in land auctions so far this year. After home prices fell and sales slowed earlier this year, large Hong Kong developers have been bidding with caution, making way for smaller-scale local companies and firms from the mainland.
\nMore: Berlin: the new hot city for Hong Kong investors
\n\u201cIt\u2019s a shame that we have also tried hard to bid for land in Hong Kong, but failed,\u201d he said. \u201cIt\u2019s been a headache.\u201d
\nHome prices in Hong Kong slumped as much as 13 percent between September 2015 and March 2016. They have risen more recently and transaction volumes rose to the highest in 14 months this August.
\nIn 1955, Lui founded K Wah Group in 1955. The company\u2019s construction materials have been used in a quarter of all Hong Kong buildings. He moved into property development in 1962 with his first residential project.
\nRead next: Hong Kong\u2019s luxury market will fall, but how much?
\n
\nSource : property-report.com
\nRead more…Billionaire developer flummoxed by Hong Kong land prices<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lui Che-Woo revealed that he\u2019s having trouble reading the market Hong Kong skyline at night....<\/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-25575","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\/p75ss1-6Ev","jetpack-related-posts":[{"id":25503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-land-prices-baffle-billionaire-developer\/","url_meta":{"origin":25575,"position":0},"title":"Hong Kong land prices baffle billionaire developer","date":"September 9, 2016","format":false,"excerpt":"\r After more than 50 years as a Hong Kong developer, octogenarian billionaire Lui Che-Woo says he\u2019s having trouble reading the city\u2019s property market these days.\r \r Source : South China Morning Post\r Read more...Hong Kong land prices baffle billionaire developer","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96522,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-third-richest-man-lui-che-woo-joins-the-chorus-of-warnings-about-the-property-market\/","url_meta":{"origin":25575,"position":1},"title":"Hong Kong\u2019s third-richest man, Lui Che-woo, joins the chorus of warnings about the property market","date":"August 23, 2018","format":false,"excerpt":"\r Hong Kong\u2019s third-richest man has a word of warning for property buyers in the world\u2019s least affordable city to own a home: By all means get something to live in, but do not be sucked into speculation. Lui Che-woo, chairman of developer K Wah International Holdings, said on Wednesday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105215,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-henderson-land-k-wah-international-report-small-increases-in-profit-are-optimistic-about-2019\/","url_meta":{"origin":25575,"position":2},"title":"Hong Kong developers Henderson Land, K Wah International report small increases in profit, are optimistic about 2019","date":"March 21, 2019","format":false,"excerpt":"\r Hong Kong property developer Henderson Land Development, chaired by tycoon Lee Shau-kee, said on Wednesday profit attributable to its owners inched up by 1 per cent last year, while that of K Wah International, chaired by billionaire Lui Che-woo, rose by 3.6 per cent, in a reflection of Hong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39177,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/k-wah-pays-hk5-87-billion-for-kai-tak-site-winning-hong-kongs-final-land-auction-for-2016\/","url_meta":{"origin":25575,"position":3},"title":"K Wah pays HK$5.87 billion for Kai Tak site, winning Hong Kong\u2019s final land auction for 2016","date":"December 29, 2016","format":false,"excerpt":"\r K Wah International Holdings Ltd., the developer controlled by casino tycoon Lui Che-woo, has won the Hong Kong government\u2019s final land auction of 2016, paying HK$5.868 billion for a piece of land at the former Kai Tak airport site. The winning bid on the site, with a total gross\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123753,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-shop-for-bargains-as-chinas-once-deep-pocketed-asset-buyers-fall-on-hard-times-amid-debt-crackdown\/","url_meta":{"origin":25575,"position":4},"title":"Hong Kong developers shop for bargains as China\u2019s once deep-pocketed asset buyers fall on hard times amid debt crackdown","date":"December 11, 2021","format":false,"excerpt":"\r Lui Che-woo, one of Hong Kong\u2019s wealthiest men with a casino, hotels and apartments under his belt, met his match in late 2016 when his company K Wah International lost a bidding war to a Chinese airline that was on a land grab in the world\u2019s most expensive real\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":148093,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lui-che-woo-hong-kong-property-and-casino-magnate-of-k-wah-galaxy-dies-at-age-95\/","url_meta":{"origin":25575,"position":5},"title":"Lui Che-woo, Hong Kong property and casino magnate of K.Wah, Galaxy dies at age 95","date":"November 11, 2024","format":false,"excerpt":"\r Lui, the chairman of the K. Wah Group of companies, passed away peacefully, according to separate filings to the Hong Kong stock exchange by his companies.\r \r Source : South China Morning Post\r Read more...Lui Che-woo, Hong Kong property and casino magnate of K.Wah, Galaxy dies at age 95","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\/25575"}],"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=25575"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25575\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=25575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=25575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=25575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}