WHAT appeared to be a crisp and disciplined arrangement for developing the sites in the New Territories sold off last week in the controversial auction is now looking strangely fluid.
Li Ka-shing is apparently making it clear in property circles that assumptions on the part of his fellow members that Cheung Kong (Holdings) would be project manager of one of the sites were misplaced.
His group was identified as a leading mover in one of the two groups which formed bidding parties for the two sites.
The main lot in Fanling, which sold for a basement level price of $2.04 billion, was said by leading members of the buying consortium to be destined for Cheung Kong. Mr Li neither confirmed nor denied this at the time.
The second site, the $510 million Yuen Long property, was to be in the hands of Robert Ng Chee Siong's Sino Land Co. Now, that too might be under debate, according to company insiders.
While he has not been mentioned as project manager of Yuen Long, Mr Li is making it equally clear that no one should bother asking him.
Given his position in the property community it was perfectly natural that Mr Li would be the obvious choice for project manager, even if the co-members would fight him tooth and nail in more conventional circumstances.
