New stamp duty may lead to fewer old buildings being redeveloped

A further drop in acquisitions for redevelopment is expected. Photo: Dickson Lee

The imposition of extra stamp duties, which caused a 72 per cent drop last year in developers' purchases of old buildings for redevelopment, will continue to affect the sector this year, property consultants say.

Thursday, 7 May, 2015, 12:48pm 1 comment

Turkish protesters vow to stay put in park, despite PM's concession

A protester on an overturned car in Gezi Park. Photo: Reuters

Prime Minister Recep Tayyip Erdogan's offer to halt the redevelopment of Gezi Park - that ignited the protests - was presented as a major concession, but after conferring all night the protesters said their movement was about something bigger than a conservation struggle.

16 Jun 2013 - 8:53am

Chinese firm to develop London's third financial district in US$1.5b deal

London Mayor Boris Johnson and Advanced Business Parks Chairman Xu Weiping sign documents at City Hall in London. Photo: Reuters

A Chinese developer has signed a deal to convert a derelict plot of land next to London's City Airport into the British capital's third financial district. It is aimed at Chinese firms and will be worth an expected US$1.5 billion when completed.

30 May 2013 - 2:26am

High-rise ruling swells costs

General view of East Kowloon Area including Mong Kok and Kowloon City. Many sites in Hong Kong are subject to government leases with restrictive covenants, such as those allowing "not more than one house" to be built on them. Photo: SCMP

Developers wishing to replace houses with high-rises will in many cases have to pay a land premium after a game-changing ruling from the city's top court. The ruling could result in billions of dollars being added to the government's coffers.

14 May 2013 - 4:29am

Sham Shui Po lane getting in way of private flats, court told

The legal battle centres on a disagreement over ownership of a back lane cutting across the site.

The legal battle centres on a disagreement over ownership of the back lane, which is surrounded by old buildings on the 45,000 square foot site on Berwick Street facing St Francis of Assisi Church.

8 May 2013 - 5:54am

Residents call on city to bury hearse problem

Funeral homes and car repair shops among big issues in the Kowloon City District.

The constant presence of hearses from nearby funeral homes and noise from car repair shops are two major concerns for residents that emerged from a public consultation on redevelopment of the Kowloon City District.

1 May 2013 - 5:47am

Popular pub out as Hysan redevelops Causeway Bay's Sunning Plaza

The redeveloped Sunning Plaza (centre) is due to open in 2018. Photo: Nora Tam

Causeway Bay is to lose a popular pub and restaurant on Hoi Ping Road to an office development. Landlord Hysan Development told more than 20 tenants of Sunning Plaza several weeks ago they would have to vacate the buildings in September.

1 May 2013 - 3:44am

Shui On Land to convert Shanghai hotel into flagship retail store

Vincent Lo Hong-shui, Shui On chairman

The conversion of a luxury boutique hotel in a historical district of Shanghai into a multi-storey flagship retail outlet will be the first project to be tackled by China Xintiandi, a commercial property unit to be spun off by Hong Kong-listed Shui On Land.

24 Apr 2013 - 5:20am

Hong Kong needs review of historic building heritage policy

The city's lack of space and strong appetite for development means old buildings are constantly under the threat of demolition. Photo: David Wong

What is more sad than for a great city to lose its heritage bit by bit? Historic buildings and monuments, once demolished, are gone forever. That is why world cities steeped in history and culture have long embraced heritage conservation. A city that turns its back on its past loses its soul and character.

1 Apr 2013 - 3:00am 3 comments

Dying Kwun Tong town centre awaits revival

The exterior of Kwun Tong Silver Theatre located at Yue Man Square in Kwun Tong. Photo: Sam Tsang

Yue Man Square, which was once the bustling heart of Kwun Tong, lies half empty after the original businesses moved out and the Urban Renewal Authority was unable to re-let their units temporarily - because of illegal structures.

16 Mar 2013 - 5:13am

Kwun Tong alley shopkeepers stand their ground against URA

Cobbler Ho Kei-sing, 74, was not among those offered the option to bid for a market unit as his business is located just outside Yan Shun Lane. Photo: Nora Tam

Three months before a deadline to move out, 28 small businesses in a Kwun Tong alley stand in the way of the Urban Renewal Authority's biggest project ever. The businesses, in their makeshift shops in Yan Shun Lane, are among the last holdouts in the Kwun Tong town centre redevelopment area.

16 Mar 2013 - 6:53am 1 comment

Residents welcome URA plan to rip down Sham Shui Po block

Seventy-year-old Cheng Lung-ming, who has lived in the same subdivided flat on Tonkin Street for over 20 years, applied for public housing a few days ago. Photo: Dickson Lee

A crumbling, heavily subdivided corner block in Sham Shui Po, built more than 50 years ago, will be replaced with a 25-storey development by 2021 under plans announced by the Urban Renewal Authority yesterday.

9 Mar 2013 - 5:15am 1 comment

Business cut short at alleyway hairdresser

Feng Yan-ping took over the stall a decade ago. Photo: Dickson Lee

Feng Yan-ping operates a long-established, licensed hair salon stall in the alleyway right behind the blocks slated for redevelopment. Unluckily for her, the stall lies a few centimetres outside the official redevelopment area, so she gets no compensation even though her business is completely disrupted by the work.

9 Mar 2013 - 5:03am

Demand sees Hysan boost Causeway Bay office space

Hysan plans to redevelop Sunning Court in Causeway Bay into a mixed-use office and retail complex together with Sunning Plaza to cope with future demand. Photo: Edward Wong

Planning is under way for the combined redevelopment of Sunning Plaza and Sunning Court in Causeway Bay into a mixed-use office and retail complex, Hysan Development said yesterday.

7 Mar 2013 - 6:12am

Housing Society seeks help to rehouse tenants while it rebuilds estates

Wong Kit-loong, chief executive and executive director of the Housing Society

The Housing Society says the lack of vacant flats for temporary relocations is the main obstacle to redevelopment of public housing - despite this approach being highlighted as a way to increase supply in Leung Chun-ying's policy address.

18 Feb 2013 - 4:34am 1 comment