Hong Kong’s government may have to step up on land sales as two failed auctions starve the coffers of much-needed revenue

• Two withdrawn tenders in October and May deprived the government of an estimated HK$12 billion in revenue, about 10 per cent of the government’s land-sales receipt from the last fiscal year
• The government still has nine land parcels to sell out of 15 plots earmarked for the fiscal year ending in March 2021