Hong Kong’s cash-strapped Urban Renewal Authority (URA) may review its policy to reduce compensation to residents affected by redevelopments, its new chief has said, as the organisation faces financial challenges. URA managing director Donald Choi Wun-hing said on Friday in his first meeting with the media that it was an appropriate time to review the…
Hong Kong’s cash-strapped Urban Renewal Authority (URA) will issue another round of bonds this year and has reached out to investors in the Middle East and Europe, the body’s outgoing chief has revealed. Authority managing director Wai Chi-sing also said that two sites the government gave to the URA this month had strengthened its bargaining…
Annual fundraising drive Operation Santa Claus (OSC) raised a substantial HK$13.2 million (US$1.7 million) in the last two months of 2024 to improve the lives of more than 11,000 underprivileged Hongkongers through 11 charities. Contributions to the 37th edition of the initiative, jointly organised by the South China Morning Post and public broadcaster RTHK, brought…
New flats on offer in Kai Tak received a cool reception on Saturday, as Hong Kong homebuyers mostly stayed on the sidelines waiting for steeper discounts, which spoiled expectations of a strong turnout at the start of November after the monetary authority relaxed the city’s mortgage financing rules last month. Only one out of the…
New flats on offer in Kai Tak received a cool reception on Saturday, as Hong Kong homebuyers mostly stayed on the sidelines waiting for steeper discounts, which spoiled expectations of a strong turnout at the start of November after the monetary authority relaxed the city’s mortgage financing rules last month. Only one out of the…
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…
Chinachem Group and the Urban Renewal Authority sold out all flats in Echo House on Sunday, the latest project to receive a warm reception from homebuyers following an easing of mortgage financing and a cut in interest rates. All 198 units in the Cheung Sha Wan project were sold after sales started at 9am, according…
Chinachem Group and the Urban Renewal Authority sold out all flats in Echo House on Sunday, the latest project to receive a warm reception from homebuyers following an easing of mortgage financing and a cut in interest rates. All 198 units in the Cheung Sha Wan project were sold after sales started at 9am, according…