Sun Hung Kai Properties prosecuted over lack of information on tender for flats in first such case as Hong Kong government tackles opaque sales practices

Sun Hung Kai Properties, Hong Kong’s largest developer by value, has been prosecuted for allegedly failing to provide sufficient information when selling flats by tender, the first such case in a government bid to target opaque sales practices.

In a press release on Friday, the Sales of First-hand Residential Properties Authority said a summons had been served to an unnamed developer for a project in Pak Shek Kok, Tai Po. A source confirmed the case involved SHKP’s project, St Martin.

“The [authority] noticed earlier there were individual cases of first-hand residential developments offered to be sold by way of tender with insufficient transparency in the sales process and the transaction information, which might have contravened the [law],” it said in a statement.

“The developer did not set out full details of the terms of payment in the register of transactions [after selling flats on March 22].”

However, it did not make clear what those details were.