Harbour loses out ot builders
Article Abstract:
Fifty-nine-hectare Central and Wah Chai reclamation project was gazetted on 29 May, the area is 21 hectares less than the original 1990 proposal. The estimated cost of the project is HK$8 bn. The use of the reclaimed land are shown as follows: Area Land use 22 hectares Construction of the Central and Wan Chai by-pass, Island Eastern Corridor Link, MTR North Island Line and a tunnel for the Airport Railway 9 hectares Office space worth HK$14.7 bn 24 hectares Open space 4 hectares Government, community and institutional uses Besides, a four-hectare square for special ceremonial activities will be built at the top of the Central and Wah Chai by-pass in the front of the new government headquarters. *
Comment:
Hong K: Fifty-nine-hectare Central & Wah Chai reclamation project is estimated to cost HK$8 bil
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Hopson to cash in on reforms
Article Abstract:
Hopson Development Holdings expects its profit increased to HK$308 mn for 1998 from HK$119.55 mn last year. Its profit will be generated by the sale of six residential projects in Guangzhou, involving 1,600 to 2,000 flats at an average of RMB 5,000 to RMB 8,000 per sq. meters. It is also expanding into the luxury residential market. It has a land bank of 21 mn sq. meters in Guangzhou, which could provide more than 21,000 flats over the next five to six years. The company's total contracted sales totalled RMB 1 bn in the first half of 1998, representing over 170,000 sq. meters of floor area and over 1,500 units. In the same period of 1997, the sales amounted to approximately RMB 500 mn. *
Comment:
Expects profit to increase to HK$308 mil for 1998 from HK$119.55 mil in 1997
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Big fines planned for flat cheats
Article Abstract:
The Hong Kong Government plans to draft up new rules to penalise those property developers which provide inadequate or misleading information on their sales brochures. Under the proposed rules to be examined in October, property developers could face heavy fine of up to HK$1 mn. The rules also requires developers to disclose details of gross floor area, fittings, and related facilities. Recommendations were mainly sought from the Consumer Council and Law Reform Commission. This included offering accurate size of sample flats, the rights of home buyers to claim damages if property developers breach the rules. *
Comment:
Hong K: Govt will draft new rules to penalise property developers which provide inadequate or misleading info on sales brochures
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Thomson-CSF moves to private sector. Philips expects a dismal year for global electronics sector. PPR launches e-commerce initiative
- Abstracts: Racal's multi-media Panther makes debut. Competition intensifies for truck training system. Australian SAS receive modified patrol vehicles
- Abstracts: ING Barings props up ties. Thrunet casts big shadow; Nasdaq success stirs hope for tech listings
- Abstracts: U.K.'s DTI set to clear British Airways alliance. Olympic Airways chief submits his resignation
- Abstracts: CAN FIN HOMES Q3 NET UP 27%. RBI EASES TERMS FOR HOUSING LOAN