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Old buildings now attract developers

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THE changing face of Hong Kong's prime business district continues to alter at a quick rate - but not as fast as the developers would like.

From the viewpoint of the Star Ferry at Tsim Sha Tsui, the island skyline looks substantially different to what it did 15 years ago.

Structures like Exchange Square, Bank of China tower and, if you go out a little further, Central Plaza, have made a huge impression.

But landlords of some of the older residential and office buildings in Central are still doing their best to frustrate some of the top developers.

''There are a lot of buildings where the plot ratio hasn't been fully utilised and there is good redevelopment potential,'' said K. S. Koh, a director of First Pacific Davies.

''The problem is that the landlords know they are valuable and are asking excessive prices.

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