How strange it is to find myself agreeing with those vampire squids from the Real Estate Developers Association. REDA members have made the most outlandish profits by misleading and distorting the true sizes of flats people have bought over the decades, while the government looked on.Thursday, 21 March, 2013, 2:50am 3 comments
The Real Estate Developers Association has accused the Town Planning Board of "micro-management" and failing to properly consider its views on four draft zoning plans. The association yesterday applied to the Court of First Instance for a judicial review of the draft plans.19 Feb 2013 - 4:40am
Hong Kong's real estate industry has grown rapidly in the past thanks to the city's famously non-interventionist economic approach.
But those heady days appear to be over with one of the biggest brakes on players' profits now government policy, according to Real Estate Developers Association (REDA) chairman Stewart Leung Chi-kin.21 Dec 2012 - 3:46am
A powerful group that represents the interests of Hong Kong developers has urged the government to exempt the city's firms from its first property tax aimed at non-local and corporate buyers.24 Nov 2012 - 3:45am
Developers want the government to remove two key components of a bill to regulate the sale of new homes, which their lawyers say are unconstitutional.
The call by the Real Estate Developers Association comes as members of a panel studying the bill rush to finish their clause-by-clause scrutiny to get it through before the legislature's term ends in July.8 May 2012 - 12:00am
No one willingly gives up an advantage. Property developers have always had the upper hand when selling flats, being able to market and sell to buyers in whichever way they see fit. Naturally, they are unhappy about a law planned for next year that will regulate their activities and set tough penalties for violations.5 Feb 2012 - 12:00am
When you are a billionaire, it is understandable you may have your head stuck in the clouds. That may explain the absurd objections presented by REDA - a lobby group whose key members consist of developers controlled by our ageing tycoons - as part of its submission to the government's consultation on reforming home sales practices.4 Feb 2012 - 12:00am
Hong Kong's big developers are toughening their position against a government plan to regulate the sale of new flats. The Real Estate Developers Association (REDA) now says some of the government's key proposals are unconstitutional, warning that the proposed law would not survive a legal challenge.1 Feb 2012 - 12:00am
The government is to get tough on malpractice in the sale of firsthand properties. The administration wants to legislate making property company managements criminally responsible for spreading false or misleading information, punishable with jail terms. The government also intends to only allow the use of gross floor area and ban the use of 'sellable areas'.28 Oct 2011 - 12:00am
The Real Estate Developers Association is warning the government not to overreact when deciding on a jail penalty in legislation to regulate the primary property market.
Stewart Leung Chi-kin, chairman of the Reda executive committee, said yesterday that the government should clarify the circumstances that would incur a jail term.28 Sep 2011 - 12:00am