Richard Woo

Premiums set to fall to 10-year low

Land revenue for this financial year will fall $19 billion below target to its lowest level in a decade, according to new forecasts.

Thursday, 6 December, 2001, 12:00am

Tung Tau rezoning plan opens door to commercial development

The Town Planning Board has decided to rezone the Tung Tau Industrial Area - home to most of Yuen Long's factories and warehouses - into business use to enable commercial development.

Kerry Properties and Lai Sun Development, which hold properties in the area, are expected to benefit from the move.

10 Nov 2001 - 12:00am

Confidence surge

Developers have submitted five pre-sale consent applications for unfinished residential projects.

This lifts the number of private flats pending approval at July 31 to 6,445, up 27 per cent month on month.

Analysts said the figure - up from 5,094 at June 30 - showed renewed confidence from developers as agents reported better sales.

7 Aug 2001 - 12:00am

Interest in industrial units falls from developers' agenda

Lack of building applications lodged in the first four months of the year reveals that property firms have no interest in developing industrial units, according to Midland Realty.

The property consultant said developers would rather build residential or commercial projects on industrial sites, citing approvals for new residential conversion of 6,680 units at present.

9 Jul 2001 - 12:00am

Value of large-scale transactions up 20pc

Large-scale luxury residential and office transactions rose by almost 20 per cent in value in the first half of the year, compared with the same period last year, according to a survey by Jones Lang LaSalle.

The transaction value of deals worth more than HK$50 million each amounted to HK$7.12 billion in the six-month period, compared with HK$6 billion a year ago.

4 Jul 2001 - 12:00am

Downtown forces cut to forecast

Property Consultant Cushman & Wakefield has slashed growth predictions for prime office rents in most Asian cities due to the rapid deterioration in the world's economies.

Most markets are expected to show flat growth this year, though Hong Kong and Singapore face zero growth, but better than the negative territory looming for Tokyo and Seoul.

3 Apr 2001 - 12:00am

Proposal for giant Ferris wheel rejected

Plans for a giant Ferris wheel on the Tsim Sha Tsui waterfront were rejected yesterday because the proposed structure would have exceeded the area's height restrictions.

Developer Wharf (Holdings) proposed to build a 75-metre-high wheel on a four-storey podium as an extension to Ocean Terminal, which would rise to a total height of 103 metres.

31 Mar 2001 - 12:00am

Sime Derby laying out $468m in delisting bid

Malaysian conglomerate Sime Darby wants to privatise its Hong Kong-listed vehicle distributor Sime Darby Hong Kong in a HK$468 million deal.

It is offering shareholders of the 25.1 per cent it does not own HK$4 cash a share.

29 Nov 2000 - 12:00am

Housing sales slide for two months in a row

Property transactions last month dropped 3.8 per cent to 7,562 deals, representing two consecutive months of decline.

The total value of sales and purchase agreements on building units registered with the Land Registry amounted to about HK$20.3 billion, down 6.2 per cent from September.

4 Nov 2000 - 12:00am

Salomon predicts fall in costs as sales volume dips

Residential property prices could fall 10 per cent by the end of this year on diminished transaction volume in the fourth quarter, Salomon Smith Barney predicts in its latest research.

The securities house said the severity of the present market slowdown was evident from the poor results for recent project launches.

27 Oct 2000 - 12:00am

KCRC scales back West Rail project

Kowloon-Canton Railway Corp (KCRC) has scaled back a residential project along West Rail due to security concerns about People's Liberation Army flight practices at Sek Kong military air base.

26 Aug 2000 - 12:00am

Planning board approves density increase plan

The Town Planning Board has approved an unnamed developer's aggressive plan to increase the development scale of its residential project in Fanling by 2.75 times.

29 Jul 2000 - 12:00am

Planners tighten up development rules on serviced apartments

The Government has tightened controls on serviced-apartment development to avoid abuses by developers.

The Town Planning Board yesterday announced the deletion of serviced-apartment use from all statutory plans and introduced a set of guidelines for interim planning control.

24 Jun 2000 - 12:00am

Members favour conversion of buildings in industrial areas

The Government should allow industrial buildings to be converted for commercial or residential use to revive industrial areas, Town Planning Board members said.

10 Jun 2000 - 12:00am

Weak market fails to discourage buyers at Sino Land development

Sino Land has received offers from more than 160 prospective buyers for its Springdale Villas residential project in Yuen Long.

Analysts said the take-up for the 208-unit project was faster than expected in a declining market.

1 Jun 2000 - 12:00am