property price worries affect kai tak plans
Article Abstract:
The redevelopment plan of former Kai Tak Airport and Kowloon Bay has been scaled down from 840 hectares to 579 hectares. The redevelopment plan costing HK$36 bn will offer 118,000 flats for housing 320,000 population. The construction will create 14,000 jobs opportunities during construction stage and 90,000 jobs will be needed when the city is developed. The redevelopment plan is divided into four phases such as 1) North Apron of Kai Tak Airport (Oct 1998-2007). Flats for 130,000 residents. 2) Kai Tak Nullah/Kwung Tong Typhoon Shelter (2006-2010). Flats for 70,000 residents. 3) Kowloon Bay Reclamation Phase 1 (2000-2016). Flats for 59,000 residents 4) Kowloon Bay Reclamation Phase 2 (2006-2016) Flat for 60,000 residents. *
Comment:
Hong K: Redevelopment plan of former Kai Tak Airport and Kowloon Bay is scaled down from 840 hectares to 579 hectares
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Citic Pacific sees no need to raise cash
Article Abstract:
Citic Pacific said it had enough cash inflow, including about HK$2 bn cash to be generated from the sale of flats at Tierra Verde. Thus, it did not need to raise cash in the second half of 1998. The firm expected about 70% of profit for 1998 to come from infrastructure businesses in China. Besides, its trading subsidiary Dah Chong Hong (DCH) performed quite well apart from its motor distribution business. The group said DCH would focus more on selling inexpensive cars. *
Comment:
Expects to gain about HK$2 bil cash to be generated from the sale of flats at Tierra Verde in Hong Kong
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Last Maywood units for sale
Article Abstract:
Cheung Kong Holdings will sell its Maywood court's units at about HK$2,188 per sq ft, far less than current secondary market prices. Of the 600 units, the first batch of 40 units will be launched in mid-October. Cheung Kong Holdings offers also a 110% confident scheme which guarantees buyers will gain 10% increase in property value in 30 months. If not, they will compensate the price difference. *
Comment:
Will sell Maywood court's units at about HK$2,188 per-sq-ft, far less than current secondary market prices
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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