Hong Kong’s homebuyers defied a No 3 typhoon signal to snap up apartments during two property sales on Friday, entering the market after commercial banks lowered their prime lending rates a day earlier following the first rate cut by the local monetary authority. New World sold 115 of the 120 units in the House Muse…
Hong Kong building authorities have initiated 205 prosecutions against six people and two companies over alleged subpar steel reinforcement work at a CK Asset Holdings residential project after the city’s anti-corruption agency earlier uncovered suspected bribery in exchange for lax supervision. The Buildings Department said on Friday that it had received a report last August…
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 presents enormous potential,” Sino Land executive director Victor Tin said on Wednesday. “With beautiful sea views, proximity to the Greater…
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. China’s high-speed rail nears 50,000km milestone – but is it…
Victor Li Tzar-kuoi’s denial this week that his family home was being sold has stirred public curiosity about the address that has been the residence of one of Hong Kong’s wealthiest families and property developers for more than six decades. Located at 79 Deep Water Bay Road in the Southern district of Hong Kong Island,…
A CK Asset residential project in Hong Kong is in the spotlight after the anti-corruption agency arrested 10 suspects and uncovered subcontractors allegedly offering incentives to site supervisors in exchange for lax oversight of subpar steel reinforcement work. The latest bribery scandal is not the only hiccup for the project in Kwun Tong, which had…
CK Asset Holdings, the flagship property developer of Hong Kong billionaire Li Ka-shing’s family, will weather the “doldrums” in the city’s commercial leasing market amid global economic uncertainties, according to chairman Victor Li Tzar-kuoi. “No industry in this world is always well-performing, and demand for Hong Kong’s retail and office properties is indeed slow at…
A bribery scandal involving a 10 per cent shortfall of steel rebar in a residential project under Hong Kong real estate giant CK Asset is the result of collective and wilful oversight at the construction site, independent engineers have warned. While describing the incident as rare, they agreed that the government should step up inspection…