https://www.scmp.com/rss/318782/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal The competition could intensify at tenders for Hong Kong’s residential plots as developers replenish their land banks amid a recovering property market, with the tug of war testing their financial discipline as they bid for parcels at a “noticeable premium”, according to S&P Global Ratings, though some analysts believe that the return of confidence is warranted given robust demand for housing units. The credit-rating agency also forecast a relatively modest residential market recovery, which... https://www.scmp.com/business/article/3352601/what-does-improved-hong-kong-property-outlook-mean-land-sales?utm_source=rss_feed https://www.scmp.com/business/article/3352601/what-does-improved-hong-kong-property-outlook-mean-land-sales?utm_source=rss_feed Wed, 06 May 2026 10:29:41 +0000 Zhu Wenqian,Cheryl Arcibal Zhu Wenqian,Cheryl Arcibal A consortium led by Sino Land, alongside state-backed mainland developers China Overseas Land & Investment and China Merchants Land, has won a tender for the Kam Sheung Road Station Phase Two development, signalling continued confidence in Hong Kong’s Northern Metropolis and its long-term growth prospects, particularly among mainland developers. The group – which also includes Great Eagle Holdings – plans to invest more than HK$13 billion (US$1.7 billion) to build high-quality residential... https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed Tue, 21 Apr 2026 11:30:30 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s MTR Corporation said on Monday that it had received eight bids for a commercial and residential development at one of the critical hubs in the Northern Metropolis, a large-scale project that aims to bolster the city’s economic base and foster closer integration with the Greater Bay Area. The number of bids for the Kam Sheung Road Station Phase Two property development exceeded expectations, indicating developers’ interest in the Northern Metropolis project, according to analysts. The... https://www.scmp.com/business/article/3350761/hong-kongs-northern-metropolis-gains-momentum-key-project-attracts-8-bids?utm_source=rss_feed https://www.scmp.com/business/article/3350761/hong-kongs-northern-metropolis-gains-momentum-key-project-attracts-8-bids?utm_source=rss_feed Mon, 20 Apr 2026 12:00:05 +0000 Vivian Au Vivian Au Dedicated laws to streamline statutory procedures for Hong Kong’s Northern Metropolis may speed up some projects by about one year, the development chief has said. Secretary for Development Bernadette Linn Hon-ho also revealed on Sunday that the government was preparing to increase the residential component of some sites to make the investment more appealing for developers. The government unveiled a plan for proposed legislation earlier this month, comprising six main subsidiary laws designed to... https://www.scmp.com/news/hong-kong/society/article/3348288/dedicated-northern-metropolis-laws-may-speed-projects-1-year-minister?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3348288/dedicated-northern-metropolis-laws-may-speed-projects-1-year-minister?utm_source=rss_feed Sun, 29 Mar 2026 07:36:34 +0000 Vivian Au Vivian Au Hong Kong will offer nine residential sites to developers under the government’s land sale programme for the coming financial year, providing about 6,650 flats, after authorities said in the latest budget that the property market had stabilised. Combined with other land sources, such as urban redevelopment, private development and projects linked to railway properties, the potential supply of new flats is estimated to reach an eight-year high of about 22,580 in the 2026-27 financial year. The... https://www.scmp.com/news/hong-kong/society/article/3344926/hong-kong-land-sale-scheme-offer-9-residential-sites-developers-2026-27?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3344926/hong-kong-land-sale-scheme-offer-9-residential-sites-developers-2026-27?utm_source=rss_feed Fri, 27 Feb 2026 13:40:30 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-based Kerry Properties has won a tender for a residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million), which drew heavy bidding interest from both mainland Chinese and local developers. Kerry beat seven other bidders for a 50-year grant for the 1,349-square-metre (14,523 sq ft) parcel in the Eastern district, the Lands Department said on Monday. The plot was expected to provide a total gross floor area of over 130,000 sq ft, yielding around 300 residential units,... https://www.scmp.com/business/article/3343728/hong-kongs-kerry-properties-secures-shau-kei-wan-residential-plot-us177-million?utm_source=rss_feed https://www.scmp.com/business/article/3343728/hong-kongs-kerry-properties-secures-shau-kei-wan-residential-plot-us177-million?utm_source=rss_feed Mon, 16 Feb 2026 09:00:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-listed mainland Chinese developer China Overseas Land & Investment won a bid for a 3,132-square-metre (33,712 sq ft) residential plot in Kowloon East, beating some of the city’s largest developers with a higher-than-expected tender. The state-backed developer beat eight rivals to secure a 50-year grant for the parcel in Ngau Tau Kok with its bid of HK$1.8 billion (US$230 million), according to a statement from the Lands Department on Tuesday. The site is expected to yield 470... https://www.scmp.com/business/article/3343088/hong-kong-residential-plot-fetches-us230-million-chinese-developer-outbids-city-rivals?utm_source=rss_feed https://www.scmp.com/business/article/3343088/hong-kong-residential-plot-fetches-us230-million-chinese-developer-outbids-city-rivals?utm_source=rss_feed Tue, 10 Feb 2026 12:34:34 +0000 Peggy Ye Peggy Ye Hong Kong is testing purpose-built student housing as an alternative land-sale model, as weak demand for commercial sites pushes the government to explore uses that can still attract investor interest. The Development Bureau on Tuesday invited expressions of interest (EOI) for student hostel development on three commercially zoned sites in Kai Tak, Siu Lek Yuen in Sha Tin, and Tung Chung East, marking the first time the government had proposed selling land through open tender with use restricted... https://www.scmp.com/business/article/3340776/hong-kong-tests-student-housing-land-sales-office-market-slowdown-curbs-tenders?utm_source=rss_feed https://www.scmp.com/business/article/3340776/hong-kong-tests-student-housing-land-sales-office-market-slowdown-curbs-tenders?utm_source=rss_feed Thu, 22 Jan 2026 06:00:27 +0000 Jess Ma Jess Ma A prime site in the newly developed Kai Tak area, along with two other plots, have been earmarked for the development of tertiary student hostels, Hong Kong authorities have announced. A spokesman for the Development Bureau said on Tuesday that three commercial sites – in Kai Tak, Siu Lek Yuen in Sha Tin and Tung Chung East – would be open for expressions of interest from the market and could go on sale as early as the next financial year. “Subject to the response received from this expression... https://www.scmp.com/news/hong-kong/society/article/3340582/hong-kong-earmarks-kai-tak-site-among-3-plots-private-student-hostel-projects?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3340582/hong-kong-earmarks-kai-tak-site-among-3-plots-private-student-hostel-projects?utm_source=rss_feed Tue, 20 Jan 2026 11:49:58 +0000 Ian Brownlee Ian Brownlee The Northern Metropolis is in the news almost every day. The big policy focus for the administration, it is determining a new future for Hong Kong. Part of the New Territories, which were dubbed “a land between” in the 1980s, the area was once little more than a rural leftover between urban Hong Kong and the mainland, where Shenzhen’s paddy fields could be seen from a Lok Ma Chau hill. China’s opening-up policies saw Deng Xiaoping promoting Shenzhen in the 1990s. Suddenly, a world-class,... https://www.scmp.com/opinion/hong-kong-opinion/article/3339034/northern-metropolis-can-combine-best-central-planning-and-free-market?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3339034/northern-metropolis-can-combine-best-central-planning-and-free-market?utm_source=rss_feed Fri, 09 Jan 2026 21:30:08 +0000 Peggy Sito Peggy Sito A joint venture between Sino Land and Great Eagle Holdings has won a government residential site tender in Kowloon for HK$1.61 billion (US$206 million), outbidding major Hong Kong developers as the city’s housing market shows signs of stabilising. The purchase of the 41,226 sq ft site, which could yield 570 units, underscored the company’s confidence in the long-term development prospects of Hong Kong, according to Sino Land. Sino Land owns 85 per cent of the joint venture, while Great Eagle... https://www.scmp.com/business/companies/article/3339090/hong-kongs-sino-land-and-great-eagle-secure-kowloon-site-us206-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3339090/hong-kongs-sino-land-and-great-eagle-secure-kowloon-site-us206-million?utm_source=rss_feed Wed, 07 Jan 2026 13:49:22 +0000 Connor Mycroft Connor Mycroft A residential site originally earmarked for a pilot scheme allowing private developers to build subsidised homes will instead be allocated to Hong Kong’s second-largest public housing provider, marking the latest setback for the initiative aimed at boosting the supply of affordable flats. The government said on Tuesday that the site in Tung Chung, originally designated for the Private Subsidised Sale Flat Pilot Scheme, would be handed over to the Hong Kong Housing Society. The announcement... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338151/hong-kong-private-subsidised-flat-scheme-suffers-new-blow-tung-chung-site-reassigned?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338151/hong-kong-private-subsidised-flat-scheme-suffers-new-blow-tung-chung-site-reassigned?utm_source=rss_feed Tue, 30 Dec 2025 08:28:08 +0000 Ng Kang-chung Ng Kang-chung Hong Kong’s adoption of preferential packages to fast-track an industrial park that falls under the Northern Metropolis megadevelopment has been given an initial thumbs up. Local developers hailed the new approach as a “one-stop service” to help them cut through red tape and resolve problems, while some market observers believed it could also attract mainland Chinese enterprises to partner with Hong Kong firms to invest in the Hung Shui Kiu park. The government announced on Monday that it was... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338074/new-approach-fast-track-hong-kong-industrial-park-gets-thumbs-firms?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338074/new-approach-fast-track-hong-kong-industrial-park-gets-thumbs-firms?utm_source=rss_feed Tue, 30 Dec 2025 00:00:36 +0000 SCMP Editorial SCMP Editorial The sluggish property market has made government land sales more difficult. With the economy still volatile and public confidence fragile, developers and homebuyers are understandably cautious when making investment decisions. Officials should monitor market sentiment closely and adjust relevant policies accordingly in a prudent and timely manner. If the latest residential property prices are any reference, the market has apparently bottomed out. Data from the Rating and Valuation Department... https://www.scmp.com/opinion/comment/article/3330887/hong-kongs-fiscal-health-commercial-land-sales-should-resume?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3330887/hong-kongs-fiscal-health-commercial-land-sales-should-resume?utm_source=rss_feed Thu, 30 Oct 2025 23:15:10 +0000 Olga Wong Olga Wong Hong Kong authorities could suspend the sales of commercial sites for a second year due to a lack of demand, the development minister has said, while rejecting the notion that the government was pressured by developers to shelve the Lantau reclamation plan. Secretary for Development Bernadette Linn Hon-ho made the prediction even as the city’s grade A office spaces saw a slight drop in vacancy rates between the second and third quarters. Financial Secretary Paul Chan Mo-po announced in February... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330530/hong-kong-could-halt-commercial-land-sales-second-year-over-poor-demand?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330530/hong-kong-could-halt-commercial-land-sales-second-year-over-poor-demand?utm_source=rss_feed Tue, 28 Oct 2025 00:30:09 +0000 Vivian Au Vivian Au An application made to a scheme designed to boost Hong Kong’s housing supply by tapping into developers’ reserves has been withdrawn for the first time amid a lukewarm response, with experts attributing the move to a sluggish economy. Brasilia, a subsidiary of Lee On Investment (Holdings), made the withdrawal of its application to the Land Sharing Pilot Scheme for a plot measuring 3.1 hectares (7.7 acres) in Yuen Long involving more than 2,000 homes earlier this year. The government did not... https://www.scmp.com/news/hong-kong/society/article/3327878/first-developer-withdraws-hong-kong-land-sharing-scheme-amid-slow-economy?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3327878/first-developer-withdraws-hong-kong-land-sharing-scheme-amid-slow-economy?utm_source=rss_feed Sat, 04 Oct 2025 11:08:18 +0000 Regina Ip Regina Ip In his most comprehensive policy address yet, Hong Kong Chief Executive John Lee Ka-chiu mapped out dozens of policy measures to boost Hong Kong’s hub economy, help small and medium enterprises, shore up the property market, promote tourism, develop new tech-based industries, raise fertility and train talent, just to name a few. However, the emphasis on the economy should not divert attention from the key reforms outlined in Lee’s address, which – if successfully implemented – would have a... https://www.scmp.com/opinion/hong-kong-opinion/article/3326091/hong-kong-doubles-down-innovation-and-accountability-its-future?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3326091/hong-kong-doubles-down-innovation-and-accountability-its-future?utm_source=rss_feed Sun, 21 Sep 2025 01:30:09 +0000 Ken Chu Ken Chu Hong Kong’s Northern Metropolis is no longer a distant blueprint but a defining project of our times. In his policy address, Chief Executive John Lee Ka-chiu made clear that its delivery will be a top priority, with new structures, legislation and transport links to ensure momentum. This marks a significant step forward for Hong Kong, signalling a determination to transform vision into reality. The creation of a committee tasked with developing the Northern Metropolis, backed by working groups... https://www.scmp.com/opinion/hong-kong-opinion/article/3325941/northern-metropolis-can-be-hong-kongs-new-growth-engine?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3325941/northern-metropolis-can-be-hong-kongs-new-growth-engine?utm_source=rss_feed Fri, 19 Sep 2025 22:30:08 +0000 Francis Neoton Cheung Francis Neoton Cheung The Kai Tak Development Area, once home to Hong Kong’s iconic airport, is now the site of one of the city’s most ambitious urban regeneration efforts. As the government pushes forward with two major infrastructure projects in the area – a smart and green mass transit system and the enhancement of the Kai Tak Cruise Terminal – concerns are mounting that the current fragmented approach may undermine the very goals these projects aim to achieve. Both initiatives are central to Hong Kong’s long-term... https://www.scmp.com/opinion/hong-kong-opinion/article/3324992/kai-tak-infrastructure-projects-shouldnt-be-developed-isolation?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3324992/kai-tak-infrastructure-projects-shouldnt-be-developed-isolation?utm_source=rss_feed Sat, 13 Sep 2025 01:30:08 +0000 Peggy Sito Peggy Sito Sino Land has won a residential site tender in Tuen Mun for HK$1.09 billion, beating major Hong Kong and mainland Chinese developers – including CK Asset Holdings, Kerry Properties and China Overseas Land & Investment – as the city’s housing market shows early signs of recovery. The transaction, which marked the Hong Kong government’s first residential plot sale this financial year, involved a site at Hoi Chu Road in Tuen Mun, a district in proximity to Shenzhen Bay. “The sought-after site... https://www.scmp.com/business/companies/article/3321760/sino-land-wins-tuen-mun-land-tender-hk1-billion-bid-amid-improved-housing-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3321760/sino-land-wins-tuen-mun-land-tender-hk1-billion-bid-amid-improved-housing-market?utm_source=rss_feed Wed, 13 Aug 2025 12:28:07 +0000 SCMP Editorial SCMP Editorial The sluggish economy has not just taken a heavy toll on the property sector. The government is also suffering as a result, with land revenues shrinking and development projects curtailed. In an unusual step, the Development Bureau cancelled tenders for two sites earmarked for multi-storey buildings for modern industries in the New Territories, just days ahead of the deadline for submission. Instead, the Hong Kong Science and Technology Parks Corporation will take over the Yuen Long plot to build... https://www.scmp.com/opinion/comment/article/3319620/pragmatic-approach-will-help-take-northern-metropolis-forward?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3319620/pragmatic-approach-will-help-take-northern-metropolis-forward?utm_source=rss_feed Sun, 27 Jul 2025 23:15:11 +0000 Salina Li Salina Li Hong Kong’s government will release a mid-size plot for sale in its fiscal second quarter, continuing its tight grip on land supply as the city’s residential property market grapples with a glut that has forced developers to slash prices to find buyers. A plot measuring 6,500 square metres (70,000 sq ft) at the junction of Wing Shun Street and Texaco Road in Tsuen Wan in the western part of New Territories will be made available via tender in the July to September quarter, enough to provide... https://www.scmp.com/business/article/3317914/hong-kong-government-offer-just-1-residential-plot-sale-current-quarter?utm_source=rss_feed https://www.scmp.com/business/article/3317914/hong-kong-government-offer-just-1-residential-plot-sale-current-quarter?utm_source=rss_feed Fri, 11 Jul 2025 11:29:13 +0000 Olga Wong Olga Wong Hong Kong will press on with building up its land bank but adopt a cautious stance on selling the sites, the finance chief has said, rejecting the notion the government is rushing to find and sell parcels to offset the budget deficit. Financial Secretary Paul Chan Mo-po also said in a recent interview that the government would address plans to build artificial islands off Lantau waters “later”, despite calls from developers to halt the project immediately. “We will not stop [creating land]... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3315398/hong-kong-keep-expanding-land-bank-not-offset-deficit-paul-chan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3315398/hong-kong-keep-expanding-land-bank-not-offset-deficit-paul-chan?utm_source=rss_feed Mon, 23 Jun 2025 02:00:16 +0000 Ambrose Li,Vivian Au Ambrose Li,Vivian Au Hong Kong authorities have granted two land parcels to the cash-strapped Urban Renewal Authority (URA) in a rare move offering extra financial help for its projects, with a review of the body’s operating and funding model part of the conditions of the deal. The key decision-making Executive Council gave the green light on Friday, with the URA to enjoy a nominal land premium of HK$1,000 (US$127) for 50 years at the sites in Hung Hom and Tseung Kwan O. The sites would have to be rezoned for... https://www.scmp.com/news/hong-kong/article/3313331/hong-kong-approves-land-grants-beleaguered-urban-renewal-authority-rare-move?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/3313331/hong-kong-approves-land-grants-beleaguered-urban-renewal-authority-rare-move?utm_source=rss_feed Fri, 06 Jun 2025 06:48:02 +0000 Cannix Yau Cannix Yau The bidding for three pilot areas in a Hong Kong megaproject near the border will be successful despite rising economic uncertainties caused by escalating tensions between the United States and China, the development chief has said. Secretary for Development Bernadette Linn Hon-ho also said on Saturday that two of the projects within the Northern Metropolis would be tendered this year with initial construction results delivered within two years. Linn dismissed the possibility of a failed tender... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3306276/hong-kong-confident-mega-project-bids-amid-economic-headwinds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3306276/hong-kong-confident-mega-project-bids-amid-economic-headwinds?utm_source=rss_feed Sat, 12 Apr 2025 06:38:25 +0000 Hong Kong’s budget proposes to accelerate the construction of the Northern Metropolis. Some people have suggested a Northern Metropolis development authority be established, arguing that high-level leadership could speed things up. But how exactly would such an authority expedite development? What considerations are involved? More importantly, how would it attract investment and address funding shortages in an era of geopolitical tensions and economic downturns? In recent years, the government... https://www.scmp.com/opinion/hong-kong-opinion/article/3305132/why-decision-northern-metropolis-authority-cant-be-rushed?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3305132/why-decision-northern-metropolis-authority-cant-be-rushed?utm_source=rss_feed Thu, 10 Apr 2025 01:30:08 +0000 Vivian Au Vivian Au Henderson Land Development, New World Development, Sino Land and CK Asset Holdings are among 22 Hong Kong and mainland Chinese companies that have expressed interest in a pilot scheme to develop large land parcels in the Northern Metropolis after a Beijing official urged the business sector to get involved. The Development Bureau said on Monday that it had received submissions from a range of companies. “The enterprises or organisations making the submissions include local and mainland... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3304624/22-hong-kong-mainland-firms-express-interest-pilot-northern-metropolis-scheme?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3304624/22-hong-kong-mainland-firms-express-interest-pilot-northern-metropolis-scheme?utm_source=rss_feed Mon, 31 Mar 2025 13:36:56 +0000 Edith Lin,Vivian Au Edith Lin,Vivian Au Hong Kong plans to speed up private projects by allowing developers who modify leases to pay a land premium for what they will build rather than for the maximum floor area allowed on the site, according to the development minister. Secretary for Development Bernadette Linn Hon-ho raised the concept of “pay for what you build” on Wednesday as an alternative to the current arrangement where firms pay the land premium based on the plot’s maximum floor area they can build when they adjust their... https://www.scmp.com/news/hong-kong/society/article/3303991/hong-kong-eyes-pay-what-you-build-concept-developers-adjusting-leases?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3303991/hong-kong-eyes-pay-what-you-build-concept-developers-adjusting-leases?utm_source=rss_feed Wed, 26 Mar 2025 10:16:36 +0000 Vivian Au Vivian Au Hong Kong’s finance chief earlier announced a change in pace regarding how land would be allocated for the Northern Metropolis, with some sites to go directly to companies with cutting-edge technology and the ability to create a certain number of jobs. Financial Secretary Paul Chan Mo-po said last Tuesday that the process would be “a little different” from the past, as authorities wanted to accelerate development efforts to turn 30,000 hectares (74,130 acres) of land in the New Territories into... https://www.scmp.com/news/hong-kong/society/article/3302556/hong-kong-granting-northern-metropolis-land-tech-firms-will-it-pay?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3302556/hong-kong-granting-northern-metropolis-land-tech-firms-will-it-pay?utm_source=rss_feed Sun, 16 Mar 2025 05:00:16 +0000 Financial Secretary Paul Chan Mo-po recently said the Hong Kong government would grant land in the Northern Metropolis to private companies that bring new technology and job prospects to industries such as artificial intelligence (AI) and life sciences. His speech comes after the government announced the large-scale land disposal pilot scheme to expedite the Northern Metropolis’ development and last year’s memorandum of understanding signed by 85 enterprises expressing support for the... https://www.scmp.com/opinion/hong-kong-opinion/article/3302181/hong-kong-must-ensure-it-wont-lose-control-northern-metropolis?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3302181/hong-kong-must-ensure-it-wont-lose-control-northern-metropolis?utm_source=rss_feed Sat, 15 Mar 2025 01:30:08 +0000 Vivian Au Vivian Au Hong Kong will press on with selling residential plots, the development minister has said, despite an earlier warning from a credit-rating agency that oversupply is hurting the property market. Bernadette Linn Hon-ho also said on Saturday that authorities would not give up on creating artificial islands in the waters off Lantau as part of plans for securing future land supply. “We have a scientific basis for the need for residential land,” she said on a radio show. Authorities had estimated the... https://www.scmp.com/news/hong-kong/society/article/3301611/hong-kong-press-selling-residential-plots-amid-warnings-oversupply?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3301611/hong-kong-press-selling-residential-plots-amid-warnings-oversupply?utm_source=rss_feed Sat, 08 Mar 2025 05:19:21 +0000 Vivian Au,Edith Lin Vivian Au,Edith Lin The Hong Kong government will offer eight small residential sites to developers in the coming financial year, aiming to provide about 4,450 private flats under the land sale programme. Secretary for Development Bernadette Linn Hon-ho said on Friday that the programme for the 2025-26 financial year would cover five new sites in districts with developed communities. Two are on Hong Kong Island, two are in Kowloon and four in the New Territories. “The market is warming up and the sites are likely... https://www.scmp.com/news/hong-kong/society/article/3300630/8-residential-sites-hong-kong-sell-2025-26-will-yield-4450-private-flats?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3300630/8-residential-sites-hong-kong-sell-2025-26-will-yield-4450-private-flats?utm_source=rss_feed Fri, 28 Feb 2025 14:51:14 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong has awarded Singapore’s Mapletree Investments a 50-year land grant to a parcel of land in the New Territories for about HK$3.68 billion (US$473 million), according to the Lands Department on Tuesday. Mapletree’s unit Titanium 2 was the sole bidder for the 44,318-square-metre (477,000 sq ft) logistics site in Tsing Yi following a tender that closed on Friday. The “positive market response” to the site, known as Tsing Yi Town Lot 202, “clearly reflects the trade’s continual confidence in... https://www.scmp.com/business/article/3300115/singapores-mapletree-wins-land-tender-adds-tsing-yi-logistics-site-hong-kong-assets?utm_source=rss_feed https://www.scmp.com/business/article/3300115/singapores-mapletree-wins-land-tender-adds-tsing-yi-logistics-site-hong-kong-assets?utm_source=rss_feed Tue, 25 Feb 2025 14:26:28 +0000 Salina Li Salina Li Six Hong Kong developers are vying for the only residential land plot that the government made available last quarter, but surveyors expect cautious bids amid economic uncertainty and high interest rates. CK Asset Holdings, Sun Hung Kai Properties, Sino Land, K&K Property Holdings and China Overseas Land & Investment were among the bidders. The tender for the 3,580-square-metre site on Mei Tin Road in Tai Wai, Sha Tin, closed on Friday at noon. The site, which will support 360 flats, is about 15... https://www.scmp.com/business/article/3296190/hong-kong-land-sale-fetch-around-us75-million-amid-developer-caution?utm_source=rss_feed https://www.scmp.com/business/article/3296190/hong-kong-land-sale-fetch-around-us75-million-amid-developer-caution?utm_source=rss_feed Fri, 24 Jan 2025 10:38:38 +0000 Vivian Au Vivian Au Hong Kong authorities will speed up the approval of private construction projects and related foundational works that have already been allocated funding to prevent the industry from shrinking. The government announced the new measures on Friday amid concerns from the construction and architectural sectors that repeated failed land bids had prompted some firms to lay off employees or force staff to go on unpaid leave last year. “The Buildings Department and Lands Department will speed up the... https://www.scmp.com/news/hong-kong/society/article/3295262/hong-kong-expedite-approvals-keep-construction-sector-contracting?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3295262/hong-kong-expedite-approvals-keep-construction-sector-contracting?utm_source=rss_feed Fri, 17 Jan 2025 13:18:23 +0000 Salina Li Salina Li The Hong Kong government will offer a single plot of land to developers in the final financial quarter, making a second attempt to sell the Tung Chung parcel after revising the site requirements to align with cautious bidding sentiment amid high interest rates. Town Lot 55 in Area 106B is expected to provide 745 flats, Bernadette Linn Hon-ho, the secretary for development, said on Tuesday. The government rolled out the same 37,268-square-metre (401,000 sq ft) plot in 2023 but withdrew it after... https://www.scmp.com/business/article/3293786/hong-kong-offer-just-one-land-plot-quarter-amid-developer-caution?utm_source=rss_feed https://www.scmp.com/business/article/3293786/hong-kong-offer-just-one-land-plot-quarter-amid-developer-caution?utm_source=rss_feed Tue, 07 Jan 2025 12:04:02 +0000 Edith Lin,Vivian Au Edith Lin,Vivian Au Developers could pay lower land premiums for two of three large sites in Hong Kong under a pilot scheme in the Northern Metropolis if they surrendered industrial sites in urban areas or even relocated facilities to the parcels, the government suggested on Tuesday. The Development Bureau floated the incentive as it invited industry players to submit an expression of interest by the end of March before rolling out tenders later in 2025 and 2026 for three parcels of land each sized between 10 and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3292936/hong-kong-floats-land-premium-offer-boost-interest-2-large-sites?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3292936/hong-kong-floats-land-premium-offer-boost-interest-2-large-sites?utm_source=rss_feed Tue, 31 Dec 2024 10:57:45 +0000 A land-sale mechanism abolished more than a decade ago will not be restored to ensure the government continues to take the lead on supply, Hong Kong’s development minister has said, despite calls from developers for its return amid a sluggish property market. Secretary for Development Bernadette Linn Hon-ho also said on Saturday that the application-based mechanism would not be brought back to operate side by side with the current land-sale arrangement, in which authorities designate plots for... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3291820/hong-kong-will-not-restore-land-sale-scheme-axed-2013-official-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3291820/hong-kong-will-not-restore-land-sale-scheme-axed-2013-official-says?utm_source=rss_feed Sat, 21 Dec 2024 06:15:17 +0000 Hong Kong should reassess its demand for land, taking into consideration structural economic changes and the government’s operating budget deficit, a leading finance policy adviser and a veteran surveyor said as the city leader dismissed his predecessor’s concerns about oversupply. Professor Liu Pak-wai, a director at the Hong Kong Institute of Monetary Research under the city’s de facto central bank, made the call amid concerns in Beijing over developers’ reluctance to participate in... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3287872/hong-kongs-system-assessing-land-demand-broken-and-need-reform-experts-weigh?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3287872/hong-kongs-system-assessing-land-demand-broken-and-need-reform-experts-weigh?utm_source=rss_feed Sun, 24 Nov 2024 00:30:08 +0000 Salina Li Salina Li A total of 33 developers expressed interest in MTR Corporation’s second attempt to sell a parcel of land in Tung Chung near Hong Kong’s international airport, after a senior government official urged builders to show faith in the city’s future earlier this month. The site on Lantau Island, part of the Tung Chung East Station development project, attracted no suitable bids in November last year. The tender will be the first since Xia Baolong, head of the Hong Kong and Macau Affairs Office, told... https://www.scmp.com/business/article/3287578/second-try-hong-kong-land-sale-draws-33-developers-cautious-bids-expected?utm_source=rss_feed https://www.scmp.com/business/article/3287578/second-try-hong-kong-land-sale-draws-33-developers-cautious-bids-expected?utm_source=rss_feed Thu, 21 Nov 2024 11:00:09 +0000 Cheryl Arcibal,Vivian Au,Salina Li Cheryl Arcibal,Vivian Au,Salina Li Hong Kong’s failure to sell a commercial site in Kowloon City this week represents a twin blow to the property market. The lone bid from CK Asset Holdings showed developers remained guarded on the outlook, derailing the government’s urban renewal efforts in the area. The Urban Renewal Authority (URA) on Tuesday rejected the joint-venture offer from CK Asset, a developer controlled by the family of billionaire Li Ka-shing, for a site on Kai Tak Road/Sa Po Road. The bid contained additional terms... https://www.scmp.com/business/article/3284516/hong-kongs-failed-land-tender-reflects-weak-outlook-derails-urban-renewal-efforts?utm_source=rss_feed https://www.scmp.com/business/article/3284516/hong-kongs-failed-land-tender-reflects-weak-outlook-derails-urban-renewal-efforts?utm_source=rss_feed Thu, 31 Oct 2024 02:00:12 +0000 A debate between an ex-leader of Hong Kong and the current chief executive over land supply shows no signs of dying down, with the former urging the government to provide more comprehensive details of its planning for future development. Wednesday’s volley by former city leader Leung Chun-ying came a day after Chief Executive John Lee Ka-chiu stressed that authorities needed to continuously create land to keep in control of the market, a rebuttal to Leung’s earlier warning of possible fiscal... https://www.scmp.com/news/hong-kong/society/article/3284519/ex-hong-kong-leader-crosses-swords-incumbent-again-over-land-supply?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3284519/ex-hong-kong-leader-crosses-swords-incumbent-again-over-land-supply?utm_source=rss_feed Wed, 30 Oct 2024 14:49:39 +0000 Salina Li Salina Li Hong Kong property developer Chinachem Group won a government land tender in the New Territories at a price within market expectations amid muted sentiment for land bidding, consultants said. Keen Mighty Limited, a subsidiary of Chinachem Group Holdings, won the site in Sha Tin with a bid of HK$1.02 billion (US$131 million), the Lands Department said on Tuesday. The 5,652-square-metre (60,838 sq ft) site at the junction of Sha Tin Wai Road and Siu Lek Yuen Road can support a total of 570 units.... https://www.scmp.com/business/article/3284357/chinachem-wins-hong-kong-land-tender-us131-million-bid-amid-subdued-sentiment?utm_source=rss_feed https://www.scmp.com/business/article/3284357/chinachem-wins-hong-kong-land-tender-us131-million-bid-amid-subdued-sentiment?utm_source=rss_feed Tue, 29 Oct 2024 12:00:21 +0000 Salina Li Salina Li Top Hong Kong developers have submitted bids for a government land tender in the New Territories, but experts believe the response could be lukewarm because of high inventory levels and rising construction costs. The tender for the only residential land to go on sale in the second quarter of the current financial year closed at noon on Friday. The Lands Department said it had received a total of six bids. Five developers confirmed submitting bids – Sun Hung Kai Properties (SHKP), Wheelock... https://www.scmp.com/business/article/3283899/hong-kong-property-sun-hung-kai-wheelock-and-ck-asset-submit-bids-sha-tin-plot?utm_source=rss_feed https://www.scmp.com/business/article/3283899/hong-kong-property-sun-hung-kai-wheelock-and-ck-asset-submit-bids-sha-tin-plot?utm_source=rss_feed Fri, 25 Oct 2024 10:13:00 +0000 Salina Li Salina Li Former Hong Kong leader Leung Chun-ying has raised concerns about the risks of oversupply in the property market after the government pledged to add more housing units from new large-scale development areas. “For now, there is a shortage of land and housing supply in Hong Kong, but in the future, more supply is not always better,” Leung, Hong Kong’s chief executive from 2012 to 2017, said in a social media post on Thursday with the headline “preventing oversupply”. The government has proposed... https://www.scmp.com/business/article/3283720/former-hong-kong-leader-cy-leung-cautions-housing-oversupply?utm_source=rss_feed https://www.scmp.com/business/article/3283720/former-hong-kong-leader-cy-leung-cautions-housing-oversupply?utm_source=rss_feed Thu, 24 Oct 2024 11:27:39 +0000 Cheryl Arcibal,Salina Li Cheryl Arcibal,Salina Li Hong Kong has put up a second parcel of land in Yuen Long for sale, a site earmarked for a multi-storey logistics building, while sweetening the bidding terms. It has also moved the deadline for the first plot to give potential buyers time to consider developing both sites. The government will sell the 77,737-square metre (836,754 square feet) site located in Hung Shui Kiu and Ha Tsuen by public tender, according to a Lands Department statement late Thursday. Bidding will start on October 18 and... https://www.scmp.com/business/article/3282005/hong-kong-sell-second-logistics-site-sweetens-tender-terms-market-feedback?utm_source=rss_feed https://www.scmp.com/business/article/3282005/hong-kong-sell-second-logistics-site-sweetens-tender-terms-market-feedback?utm_source=rss_feed Fri, 11 Oct 2024 08:03:11 +0000 Salina Li Salina Li The Hong Kong government will sell one residential plot in its fiscal third quarter, taking another step towards easing the city’s housing supply ahead of an expected decline in mortgage rates. The plot earmarked for sale is in Tai Wai, in Sha Tin, New Territories, and an industrial site in Hung Shui Kiu is also part of the sale programme for the quarter ending December, Bernadette Linn Hon-ho, the secretary for development, said on Friday. The 3,580-square-metre site located in Mei Tin road... https://www.scmp.com/business/article/3281153/hong-kong-government-sell-1-residential-plot-tai-wai-current-quarter?utm_source=rss_feed https://www.scmp.com/business/article/3281153/hong-kong-government-sell-1-residential-plot-tai-wai-current-quarter?utm_source=rss_feed Fri, 04 Oct 2024 12:10:40 +0000 It may have just seemed like a routine call when a top Beijing official expressed hopes for all sectors of Hong Kong society to firmly support the chief executive and his administration. But there was actually much food for thought as the call came with an emphasis on businesses to stay united in boosting the economy and turning their patriotism into concrete action. As an integral part of pro-establishment forces in the city, tycoons and entrepreneurs have long played a pivotal role in... https://www.scmp.com/opinion/comment/article/3280448/no-one-bystander-hong-kongs-development?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3280448/no-one-bystander-hong-kongs-development?utm_source=rss_feed Sun, 29 Sep 2024 20:30:08 +0000 Hong Kong property sector leaders have voiced their support for a minister’s decision not to bring back an abolished application-based land sale mechanism, warning it might sour developers’ appetite amid an underperforming market. Secretary for Development Bernadette Linn Hon-ho said earlier on Monday that authorities had no intention of restoring the previous land sale mechanism. Abolished in 2013, the mechanism required developers to apply for sites listed by the government and offer a minimum... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3275956/hong-kong-property-leaders-support-leaving-abolished-land-sale-mechanism-past?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3275956/hong-kong-property-leaders-support-leaving-abolished-land-sale-mechanism-past?utm_source=rss_feed Mon, 26 Aug 2024 09:13:27 +0000 Hong Kong’s architectural sector has urged the government to bring forward public projects to save the industry from shrinking, saying repeated failed land bids have prompted some firms to lay off employees or force staff to go on unpaid leave. Benny Chan Chak-bun, president of the Hong Kong Institute of Architects, made the call on Monday after at least six land tender exercises had failed to pick a successful bidder since last year. “I observed that some architecture firms figured out... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3274178/hong-kong-architects-call-more-public-projects-avoid-shrinkage-after-6-failed-bids?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3274178/hong-kong-architects-call-more-public-projects-avoid-shrinkage-after-6-failed-bids?utm_source=rss_feed Mon, 12 Aug 2024 08:49:23 +0000