Goldin Financial will bid in Hong Kong government land auctions
Vice president says Hong Kong land prices are ‘not really that high’
“We prefer buying land suitable for the development of high-end residential and commercial projects,” said Tommy Ting, vice president of Goldin Financial.
“The market has been confused by the outcome of some recent land sales. We have seen some government sites sold for shockingly high prices but these just reflected the successful bidder’s special interest in that individual site.
“It cannot serve as the market benchmark. Over all, land prices are not really that high.”
In September, the group said in a stock exchange filing that it would take a 60 per cent stake in the joint venture, with the remaining 40 per cent held by Pan.
Pan was ranked the ninth richest person in Hong Kong in May, according to Forbes magazine, with a net worth of US$5.6 billion.
We have seen some government sites sold for shockingly high prices...it cannot serve as the market benchmark