Mainland developers silent as prime Central site tender deadline passes
At least nine Hong Kong developers have submitted bids for the Peel Street-Graham Street site tender in Central
Mainland Chinese companies were notably absent as the tender deadline closed for a costly commercial site in Central on Monday, while nine Hong Kong developers submitted bids.
Renowned for aggressive deal making in recent times, mainland developers have been staying away from the city’s real estate market since the beginning of the year, plagued by China’s capital outflow controls and additional curbs on outbound investment in August.
Hong Kong developers were active in the absence of their mainland counterparts.
Leading developers such as New World Development, Wheelock Properties, Henderson Land Development, and Sino Land submitted separate bids for the Urban Renewal Authority’s tender for a site of about 29,000 square feet in Central.
Other bidders include Great Eagle Holdings and Wing Tai Properties, as well as CK Asset Holdings, formerly known as Cheung Kong Property Holdings, controlled by Hong Kong’s richest man Li Ka-shing.