Land Auction

In 2010, Wharf (Holdings) and Nan Fung Development paid HK$10.4 billion for a site in Mount Nicholson Road on The Peak. Photo: Oliver Tsang

Hong Kong developers’ profit margins squeezed

Fat profit margins may soon be a thing of the past for Hong Kong developers as they get squeezed by falling home prices on one hand and soaring construction costs on the other, coupled with increased competition from mainland rivals that bid up land prices.