New World Development focuses on housing in China: conglomerate builds potential by nailing down sector expected to reward long-term investors

Article Abstract:

Hong Kong-listed conglomerate New World Development is poised to profit from China's policy of using the real estate sector to spur economic development, with its massive investments in China's real estate sector. New World has largest land holding in China, some 3.26 bil sq ft, many of which are being developed for the low-cost housing sector. New World is paid 15% over development cost and interest by the Chinese government, and is expected to rise from its position of earning only 9% of revenues from real estate to 15% by the year 2000. Ninety percent of New World's revenues comes from its diversified holdings in telecommunications, hotel management, property and construction.

Administration of Housing Programs, Urban Planning, and Development, Housing & Community Development, China, Forecasts and trends, Social policy, Housing development, New World Development

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Rent prices tumble in Hong Kong's Discovery Bay area

Article Abstract:

Hong Kong's Discovery Bay residential area has been lambasted by a modest departure of residents, prompting landowners to provide rent reductions to keep tentants. Hundreds of airport engineers whose contracts have expired are departing Discovery Bay together with commuters who are outraged that their new ferry pier on Hong Kong island is nearer to Sheung Wan vicinity than the office towers of Central district.

Management, Prices and rates, Hong Kong, Tenants, Real property, Landowners

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