Sino Land and Hysan Development, two major Hong Kong property developers, expect ‘uncertainties’ to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday.

Sino Land, the only bidder in the tender for a plot of land on Lantau Island, has paid nearly 20 per cent less than market expectations as Hong Kong’s housing market continues to languish.

A Sino Land-led consortium won the right to develop a plot in Hong Kong’s Shing Tak Street from the Urban Renewal Authority (URA), after its bid displayed confidence in a highly sought location.

Academic predicts government deficit will ‘become worse’ if review of reserve prices for development sites is not carried out.

Most of the new units on Saturday came from Villa Garda III in Tseung Kwan O, which sold 73 of the 138 put up for sale.

Tel Aviv-based Verobotics expects to have more than 50 of its lightweight, artificial intelligence-powered cleaning robots deployed in the city by the end of next year.

Green certified buildings are giving developers and landlords a competitive edge as occupiers demand sustainability features, essential to meet a host of business and environmental goals.

Sino Land, which posted a 36 per cent decline in half-year profit, plans to launch some 2,100 flats, including about 640 in Lohas Park this year.

The biggest residential plot of land in Hong Kong’s southern Stanley district in two decades was withdrawn from sale by the government on Tuesday, after all four tenders failed to meet its reserve price.

The home-grown marine technology start-up wants to commercialise and scale up its 3D-printed terracotta reef tiles to restore corals and save degraded marine ecosystems around the world.

Homebuyers in the city flocked to buy flats on offer this weekend at Sun Hung Kai’s Novo Land project in Tuen Mun, reflecting a pre-emptive move against an expected rise in prime rate.

Covid-19 restrictions dragged on the profits of Hong Kong developers in the January to June period, with declines ranging from 40.5 per cent to 58 per cent, filings with the Hong Kong stock exchange on Thursday show.

Just 128 out of 168 flats at Villa Garda’s phase two development were sold on Sunday as recent interest rate hikes and stock market volatility take a toll.

The current batch of flats were priced between HK$17,106 and HK$21,346 per square foot after an average discount of 16 per cent, cheaper than other prices in the neighbourhood.

The frenzy reflected the strong demand for housing in one of the world’s least affordable urban centres, and how quickly buyers react to any change in the macroeconomic environment.

Sun Hung Kai Properties’ New Town Plaza in Sha Tin and Sino Land’s Tmtplaza in Tuen Mun aim to give consumers who are now accustomed to e-commerce new reasons to visit.

The Hong Kong government rejected all five bids received for a 1.3 million square feet residential site in Tuen Mun, as all tenders came in below the reserve price.

Sino Land and Wheelock both priced hundreds of new flats roughly 12 per cent below comparable projects launched last year, as restrictions that made house sales all-but impossible are loosened.

Mall owners come up with promotions to compete for more than 6.2 million shoppers who will receive e-vouchers worth US$638 each from Thursday.

Property developers, who usually conduct their sales campaigns on weekends, have deferred the launch of new projects until the second quarter, when the current Covid-19 outbreak is expected to recede.

Commerce chief Edward Yau says government has sent a list of needed supplies to Chinese authorities to fight escalating outbreak.

Xi Jinping’s call for action cleared one key bottleneck – the Hong Kong government itself and its red tape, claimed an insider in the pro-Beijing camp.

Sino Hotels, controlled by billionaire Robert Ng Chee Siong, said on Thursday that the outlook does not look too bright after its first-half losses widened.

Hong Kong’s property developers have been left reeling after a sell-off purportedly attributed to the Chinese government’s injunctions for them to serve the national interest drained 6.7 per cent from a gauge that tracks the city’s real estate stocks.

More property buyers are rushing into the market to get ahead of rising prices and potentially higher mortgage rates as the local monetary authority is expected to raise interest rates in lockstep with the US Federal Reserve’s tapering policy.

More property buyers are rushing into the market to get ahead of rising prices and potentially higher mortgage rates as the local monetary authority is expected to raise interest rates in lockstep with the US Federal Reserve’s tapering policy.

The strong demand over the weekend offers a clear sign that Hong Kong’s residential property market is heading for a record in September, with the sales of newly completed homes expected to rise by 50 per cent from August to 1,800 units.

The tepid response to the leftover flats marked a momentary breather in Hong Kong’s galloping residential property market, fuelled by low-interest mortgages amid signs of a recovering economy.

The sale of the land is also a crucial test of the so-called two envelope approach, which awards the winning bid on the merit of designs, planning and their congruence with the surrounding, in addition to beating the minimum reserve price.