LDC forced to shelve plans for 16 projects
Article Abstract:
The Land Development Corp has decided to delay 16 urban redevelopment projects as lack of interest from private property developers. About 7 projects of 16 projects are in Sham Shui Po involving 1,707 flats. And 5,089 office units in Wan Chai in Queen's Road East are also affected. The company also hold on 60 projects in Tai Kok Tsui, Mong Kok, Yau Ma Tei, Sham Shui Po, Central, Western and Kwun Tong involving 22 hectares. About 10 scheduled redevelopment projects remained unchanged, including Tai Kok Tsui, Central Wan Chai and Western districts. The delay may cause more concern as about 260,000 flats or 40% of private flats will be over 30 years old by 2006.
Comment:
Decides to delay 16 urban redevelopment projects due to lack of interest from private property developers
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Dong Jian plans $50m HK issue
Article Abstract:
Dong Jian Group Holdings, one of the five property developers in Fuzhou in Fujian Province, plans to offer 50 mn shares at HK$1 per share in an initial public offering (IPO) in Hong Kong. The IPO will run from 30 June to 8 July 1998. The company's share trading is expected to begin on 15 July. The group will use the net proceeds of about HK$28.8 mn to fund its investment in three of its existing property development projects in China and the remaining for general working capital. *
Comment:
Plans to offer 50 mil shares at HK$1 per share in an initial public offering in Hong Kong
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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land sale freeze push
Article Abstract:
Major developers urged the government to stop land sales in 1999 for the reason of abundance supply of flats and weakening of property market. Industry analyst said land sales stop would boost buyers sentiments in the short-term but the market demand and supply may not be balanced in the future. The Paribas Asia Equity analysts said the government should take bank's liquidity and economic situation into consideration. *
Comment:
Hong K: Major developers urge govt to stop land sales in 1999 due to abundance supply of flats & weakening of property market
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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