Heard some rumours about Goldin being built on Chinese shadow banking / shaky debt. Anyone know more?
Heard some rumours about Goldin being built on Chinese shadow banking / shaky debt. Anyone know more?
“Although commercial rents are dropping and office vacancy rates are rising, we cannot leave commercial plots to gather dust – that will damage Hong Kong’s competitiveness as an international financial and business centre,†Michael Wong Wai-lun, the city’s Secretary for Development, said about a plot that has been gathering dust for 20 years
https://www.scmp.com/business/articl...r-boost-market
The Government will sell two residential sites by tender in the July-September quarter. They are in Sai Kung and Tai Po. Briefing the media today on the Government's land sale programme for the coming quarter, Secretary for Development Michael Wong said the two sites will provide about 160 flats.
The Government will continue to increase land supply through a multi-pronged approach to meet the community’s housing, economic and social development needs, he added.
https://www.news.gov.hk/eng/2020/06/...ml?type=ticker
So instead of having circuses and international events which make the city interesting and entertaining, we're going to have another concrete monstrosity? FFS - they could at least make it a world-class botanic park with small scale restaurants/boutiques if they wanted something more permanent there.
https://www.mingtiandi.com/real-esta...arters-seized/Trading in shares of Goldin Financial Holdings remained suspended on the Hong Kong exchange today as the real estate and investment firm controlled by mainland tycoon Pan Sutong struggles to raise funds after having its corporate headquarters taken over by creditors seeking repayment of $494.5 million in debts.
In a statement to the Hong Kong exchange on Thursday, Goldin Financial notified investors that it was in discussions with its creditors in the city and was in the process of arranging HK$8.7 billion ($1.12 billion) in new credit to help meet its financial obligations, as well as moving forward with an earlier announced plan to sell a Kai Tak plot for HK$7.04 billion.
The scheme to delay land being used for high density by building low quality low density housing will cost more than planned and probably take longer.
https://www.scmp.com/news/hong-kong/...ected-run-over
Much needed plot withdrawn from develpoment
https://www.scmp.com/business/articl...elopers-recoil