Some of Hong Kong’s major developers own about 100 million sq ft of farmland in the New Territories. Photo: Winson Wong
Hong Kong developers’ rural land conversion in New Territories gathers pace, push for lower land premium due to softening market expected
- Sun Hung Kai Properties pays HK$268 million (US$34 million) to convert farmland in Yuen Long into a residential project
- Developers with large holdings in the northern New Territories are likely to negotiate for a lower land premium, analysts say
Some of Hong Kong’s major developers own about 100 million sq ft of farmland in the New Territories. Photo: Winson Wong
