Hong Kong rail giant the MTR Corporation’s net profit doubled to HK$15.77 billion (US$2.03 billion) last year from HK$7.78 billion in 2023, its best performance in six years, driven by robust contributions from property development and strong demand for local and cross-border train services. It marked the firm’s strongest result since 2018 when it pulled…
Hong Kong banks were likely to be more selective in extending credit to developers amid a prolonged property slump that could pose a “major risk” to lenders, according to Moody’s Ratings. Banks’ property development and investment loans accounted for 16 per cent of their total lending as of June, the credit-rating agency said in a…
The owner of “Jiangxi’s most stubborn nail house” expressed regret for not selling to the government after officials chose to bypass his property, constructing the highway around his home instead. In China, a “nail house” or ding zi hu refers to homeowners who resist eviction during urban development or property redevelopment projects. The house, situated…
A debate between an ex-leader of Hong Kong and the current chief executive over land supply shows no signs of dying down, with the former urging the government to provide more comprehensive details of its planning for future development. Wednesday’s volley by former city leader Leung Chun-ying came a day after Chief Executive John Lee…