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Hong Kong’s property barons set to benefit from affordable housing drive

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  1. #1

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    Hong Kong’s property barons set to benefit from affordable housing drive

    The government focus on the New Territories could also help developers unlock agricultural areas in their land banks that previously were bound up in red tape. Four big developers, Henderson, Sun Hung Kai Properties, New World and CK Asset, have amassed sizeable land banks, mostly in the New Territories totalling more than 100m sq ft of undeveloped farmland, according to analysts and company reports. The four declined to comment. Real estate stocks rallied after Lam’s announcement of the northern metropolis.
    https://www.ft.com/content/e5fd7583-...e-afa5c0969384

  2. #2

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    Not subscribed to FT, but is it even news worthy to say the big developers own crazy amounts of land suitable for home building?

    Cant wait til CCP comes and cracks down on land monopolization.

    shri, Elegiaque, qhank and 4 others like this.

  3. #3

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    Cant wait til CCP comes and cracks down on land monopolization.
    Land that is not used for common prosperity.

    I suspect that these property developers will have to use appropriate sub contractors for their development to ensure that they are in compliance with the overarching themes of the day.

  4. #4

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    Everyone was asking for it for years and this was going to happen one day anyway, still better than reclaiming land in the middle of the sea while enough unused lands keep lying around for nothing, property barons were going to benefit either way..

    traineeinvestor likes this.

  5. #5

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    Quote Originally Posted by shri:
    Land that is not used for common prosperity.

    I suspect that these property developers will have to use appropriate sub contractors for their development to ensure that they are in compliance with the overarching themes of the day.
    Finding loopholes within ccp guidelines is a death wish lol. However, I wouldnt even feel an inch of empathy if they lockup these RE billionaires.

    Separate question: is hk gov still building that multi billion dollar land mass because there is "not enough" land?

  6. #6

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    Separate question: is hk gov still building that multi billion dollar land mass because there is "not enough" land?
    From what i heard, feasibility study was just smoke and mirrors, actual work already started for reclamation (planning/preparation etc).. Not sure, whats the status now after sudden U-turn to Northern Metropolis..

  7. #7

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    However, I wouldnt even feel an inch of empathy if they lockup these RE billionaires.
    Such moves will eventually hurt virtually anyone with ties to Hong Kong. The knock on effects will be mind boggling..

    Added - eat the rich is never a solution to social issues..
    Last edited by shri; 08-11-2021 at 10:39 AM.
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  8. #8

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    Quote Originally Posted by shri:
    Such moves will eventually hurt virtually anyone with ties to Hong Kong. The knock on effects will be mind boggling..
    True. But I dont mind a full reset (networth of 0 dollars) if EVERYONE including fucking billionaires. Full reset like post WW2. Equal opportunity again to restart the Monopoly game haha.

    Billionaires, globally, have monopolized the society in a way that they can (and have) dictate any aspects of our lives.

  9. #9

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    Quote Originally Posted by D.YU:
    Not subscribed to FT, but is it even news worthy to say the big developers own crazy amounts of land suitable for home building?

    Cant wait til CCP comes and cracks down on land monopolization.
    High land prices is a tax policy not a developer policy. Governments set policy.

    Until there is a change in the way tax is collected demonizing the developer is a........

    Popular with some it seems.

    Again. Land ta x is the reason for land scarcity NOT hording by developers.
    hike, traineeinvestor and Coolboy like this.

  10. #10

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    the HK government is not go to do anything which may affect the value of the homes owned by millions of middle class families (especially those with outstanding mortgages).

    PLUS, the government will not do anything which may have any negative impact on the banking system.

    CCP's wish to end crony capitalism (before 2047) will take a back seat because of those two issues.

    does anyone know how to end crony capitalism in Hong Kong without affecting middle class families and the banking system?

    Last edited by nivek2046; 08-11-2021 at 11:09 AM.
    shri, East_coast and hike like this.

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