Building continues unabated at the site of the old airport at Kai Tak. Photo: SCMP Building continues unabated at the site of the old airport at Kai Tak. Photo: SCMP
Building continues unabated at the site of the old airport at Kai Tak. Photo: SCMP

Runaway Hong Kong land prices spark renewed calls to bring back auctions to replace tendering

HNA’s purchase of a third residential site at Kai Tak area for HK$13,000 per square foot is being viewed as the main reason for the 27pc rise in land prices between December and January.

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Building continues unabated at the site of the old airport at Kai Tak. Photo: SCMP Building continues unabated at the site of the old airport at Kai Tak. Photo: SCMP
Building continues unabated at the site of the old airport at Kai Tak. Photo: SCMP
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