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  1. Land auction puts price laggard Tung Chung back on the map

    Posted Apr 28th 2010, 12:00am by Sandy Li

    ... and prices. All that appears set to change after a residential site in the area was triggered for auction on March 26 by a developer's expression of interest- focusing attention once again ... will now be sold at auction on May 11. Property consultants believe the site could sell for up to HK$4.6 billion, representing an accommodation value of HK$2,900 per sq ft, 46 per cent above ...

  2. Focus of public land auctions to fall on small sites

    Posted Jan 09th 2004, 12:00am by Denise Tsang, Peggy Sito

    ... system, which resumes this month following a 13-month freeze on land auctions. Under the system, developers submit bids for land on the list. If the reserve price is met, the property is then put up for auction. In its policy agenda for the year, the bureau said the application list would be drawn up on the basis of the four principles. 'We only put in an appropriate number ...

  3. $608m offer triggers auction for office site

    Posted Jan 12th 2005, 12:00am by Staff Reporter

    ... Ernest Kong The government is selling a commercial site for the first time since it resumed land sales last year. A developer triggered the auction of a site in Kowloon Bay by placing ... auction in this financial year. According to a Lands Department spokesman, the site zoning allows development into a hotel or office project. But surveyors said offices were more likely ...

  4. Auction result baffles analysts

    Posted Jun 02nd 2004, 12:00am by Peggy Sito

    ... Peggy Sito Observers have been trying to explain the unexpected outcome of last Tuesday's government land auction, at which Cheung Kong (Holdings) and KWah International bid much ... they have made a mistake- again. Last week's auction evoked memories of leading developers being forced to make huge provisions for their projects after aggressively buying sites ...

  5. Metro Town to test water before land auction

    Posted Aug 27th 2005, 12:00am by Staff Reporter

    ... Foster Wong Cheung Kong (Holdings) will launch the sale of its Metro Town residential project in Tseung Kwan O ahead of next month's land auction in a test of the market's ... land sites, worth $6.24 billion, were successfully triggered for auction within a week. The land auction on September 27 will be the first residential sites to go under the hammer in 10 months. ...

  6. Developer's pre-auction outlook still on low side

    Posted Oct 12th 2004, 12:00am by Staff Reporter

    ... Ernest Kong Cheung Kong (Holdings) executive director Justin Chiu Kwok-hung has modest expectations for today's land auctions, saying the two sites up for grabs are unlikely to fetch ... everyone yet.' This is not the first time Mr Chiu has been publicly pessimistic ahead of a land auction. He was also pessimistic about prices shortly before the first government land auction ...

  7. Bubble prices show officials are playing with matches

    Posted Oct 27th 2004, 12:00am by Staff Reporter

    ... complete. Land prices fetched at auction earlier this month reached levels not seen since the bursting of the property bubble in 1997. The next move is trickier. Getting prices to go up is one ... prices, which are set entirely by Hong Kong's uniquely free and open marketplace. More grounded observers point out that under the current application system, land auctions are only triggered ...

  8. Sales set standard for land premiums

    Posted Oct 14th 2004, 12:00am by Ben Kwok, Chloe Lai

    ... Chloe Lai and Ben Kwok No return of high-price policy but auction will guide bills for developers Hong Kong's housing chief said yesterday there were no plans to reintroduce a high land price policy following Tuesday's record-breaking auction. But Michael Suen Ming-yeung said the better-than-expected land auction results would be used as a benchmark in negotiating ...

  9. Going places: a year of activity

    Posted Dec 31st 2004, 12:00am by Staff Reporter

    ... January 1 Cepa trade pact takes effect. April 30 Bank of China (Hong Kong) issues Hong Kong's first yuan-denomination credit and debit cards. May 25 First government land auction in two years. June 15 Second government land auction this year. July The consumer price index rises 0.9 per cent in July compared to a year ago, the first year-on-year increase since November ...

  10. Curbs on floor area likely to hit bidding

    Posted Apr 20th 2011, 12:00am

    ... Sandy Li Bidding at next week's auction of a development site in Hung Hom is expected to be cautious as a result of limits placed on the extra floor area a developer can obtain. But at the same time, the auction is expected to be part of an overall acceleration in land sales because the government has made more land available for development with the aim of curbing price growth, ...




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