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  1. No takers for government land auction

    Posted Mar 25th 2005, 12:00am by Chloe Lai

    ... Chloe Lai Not one property developer has applied for public auction of a site under the government's land application list in the first two months of this year despite the booming ... grant was received. Under the application list system, a site is put up for auction only after a developer undertakes to bid the minimum reserve price set by the government. Of the 17 sites ...

  2. Would anyone pay $20m for this? Find out today at HK's biggest auction

    Posted May 29th 2005, 12:00am by Chris Oliver

    ... at auction if, as is widely expected, bidding goes beyond $20 million. How the bidding turns out hinges largely on the skill of an elite group of art experts who have been flown into Hong Kong by Christie's auction house. Their assignment is to bang the gavel on 2,200 pieces of Asian art and jewellery over the next four days. When the sale ends it is estimated they will have cleared $700 ...

  3. Strong response expected for auction

    Posted Feb 19th 2005, 12:00am by Staff Reporter

    ... Foster Wong The government is expected to receive an overwhelming response to its land auction on Tuesday, riding on the back of the booming sentiment in the commercial property market. ... Vigers Appraisal and Consulting executive director Tony Chan Tung-ngok said. 'This is likely to buoy the value of commercial land sites. The upcoming land auction will be a good barometer ...

  4. Surveyors call for regular sales

    Posted Feb 19th 2005, 12:00am by Staff Reporter

    ... Foster Wong The government should be flexible and return to regular land sales to help free up supply, according to some surveyors. They said the long delays under the current list system- which requires a guaranteed minimum price to trigger an auction- was choking investment into the economy. 'The land application list system is a good mechanism to avoid an oversupply during ...

  5. Expert says approach is unsystematic

    Posted Feb 16th 2005, 12:00am by Staff Reporter

    ... discloses what minimum price will trigger an auction, and there is no way the market knows how it sets its minimum price. 'Its approach is: 'Just come in and you will see if there's an auction.' 'I think there is room for improvement here,' Professor Chau said. If the government had a mechanism to reveal its reserve price, this would help stabilise property prices, he ...

  6. Reliance on land sales must be minimised

    Posted Sep 28th 2005, 12:00am by Staff Reporter

    ... The first test of the modified land auction system has gone smoothly. Competition among developers for the three sites sold yesterday was keen and prices were at the top end ... land auction for almost a year. Interest was expected to be keen. Developers shrugged off signs of wavering public confidence in the property market, higher interest rates and lax demand. ...

  7. Government should get out of the market

    Posted Jun 23rd 2005, 12:00am by Staff Reporter

    ... There is a need to make the system more transparent, consistent and market-driven. Amendments to the application list system, through which land is put up for auction, were made effective immediately. An auction will now be held when a property developer makes a bid for a site on the list which meets at least 80 per cent of the government's valuation. Previously, the bid had to be at least ...

  8. Ex-labourer's bid for a better life lands him auction job

    Posted Mar 20th 2005, 12:00am by Staff Reporter

    ... Now the chief auctioneer at a state-owned group, the 60-year- How did you land the job, given that you had no experience as an auctioneer? I was party secretary of a company affiliated to the Beijing Commodities Bureau, which set up the Zhong Du International Auction Company in 1996. With that link and five years of teaching experience, I was chosen as the new company's first ...

  9. Dwindling supply of new flats to call developers' bluff

    Posted Sep 27th 2005, 12:00am by Tom Holland

    ... Tom Holland Forget rising interest rates and developers' complaints that the government is setting land prices too high. Today's auction of three residential property sites should go off like a rocket, almost certainly raising more than $8 billion. It is easy to see why. This is the first government auction of residential land for almost a year and concerns ...

  10. Aftershocks flow from Sino Land's auction purchase

    Posted Feb 24th 2005, 12:00am by Peggy Sito

    ... Peggy Sito, Anette Jonsson and Foster Wong Investors shun development companies and office property sales grind to a halt Tuesday's land auction continued to reverberate through ... 2.9 per cent to $6.70 yesterday. The stock started the week at $7.20. Kerry Properties, pipped at the post by Sino Land at the auction, fell 1.87 per cent to $18.40. Blue-chip developers fared ...




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