The Vanke redevelopment site at Liberty Avenue in Ho Man Tin. Photo: Jonathan Wong

Old is gold as Chinese firms target Hong Kong buildings older than 50 years for redevelopment in bid to cut costs, boost margins

  • Projects on land acquired through public tender can often cost about HK$10 billion
  • Vanke’s gross profit from Liberty Avenue project could be as much as 38.5 per cent
Topic |   Hong Kong property

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The Vanke redevelopment site at Liberty Avenue in Ho Man Tin. Photo: Jonathan Wong
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Sale of 295 flats at Centra Horizon in Tai Po’s Pak Shek Kok by Billion Development and Project Management on 27 April 2019. Photo: SCMP/ Jonathan Wong

Buyers flock to Centra Horizon’s property sale in Tai Po, in an overwhelming response that is a harbinger of rising home prices

  • As many as 16 bids were received for every one of the 295 apartment units on offer, even if the average price was set 4.1 per cent higher than a previous sale in January
  • As of 7:45pm, 220 flats, or nearly 75 per cent of those available, were sold, agents said
Topic |   Hong Kong property

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Sale of 295 flats at Centra Horizon in Tai Po’s Pak Shek Kok by Billion Development and Project Management on 27 April 2019. Photo: SCMP/ Jonathan Wong
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