AFTER months of speculation, the panel reviewing procedures at government land auctions released its final report.
The main recommendation of the panel was that large plots of land be divided into smaller lots, allowing smaller developers to take part in the auction and thus create greater competition.
It also recommended more land be sold through sealed tender.
PERMISSION to convert the Victoria Hotel into office space was sought, making this the latest in a list of hotels lost.
Located in Shun Tak Centre in Sheung Wan, the converted hotel would realise 700,000 sq ft for prime office and retail space, making the value of the commercial block about $10 billion on current market estimates.
INDESEN Industries received $77 million from sale of its four 25th floor office units in Shun Tak Centre, according to Sing Pao.
IT was announced that the Diamond Hill Plaza shopping mall would begin leasing space on November 22, with rents ranging from $60 to $200 per square foot.
