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NEWS

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JLL: Government to review mortgage rules to facilitate home upgrades

(16 January 2019, Macau and Hong Kong) Shadowed by the various regulatory measures on the property market and the external economic uncertainty, Macau’s property market softened and saw a slowdown in investment sentiment, according to JLL in its Macau Year-end Property Review 2018. According to the DICJ statistics, Macau’s gaming revenue continued to grow following the uptrend in 2017 and recorded ...more

$17.5b Cash Call To Finish Basement At W Kowloon

AN ADDITIONAL HK$17.5 BILLION WILL BE NEEDED TO FINISH A GIANT BASEMENT UNDERNEATH THE WEST KOWLOON CULTURAL DISTRICT, ACCORDING TO DOCUMENTS SUBMITTED TO LAWMAKERS. The Legislative Council’s Finance Committee previously approved HK$6 billion for three stages of the integrated basement’s construction. But the Home Affairs Bureau told lawmakers yesterday that more funding is required. The part of the ...more

HKIA Terminal 1 To Undergo HK$2b Renovation

Airport officials have announced a HK$2 billion facelift for Terminal 1 to cope with an expected rise in passenger numbers. The authority’s latest facelift for the terminal, which was opened in 1998, raises the total price tag of renovations to HK$9 billion, RTHK reported. Officials said 12 zones featuring three themes will be created across the passenger concourse, providing entertainment facilities, ...more

14 Pre-Sale Consents Issued

The Lands Department issued 12 pre-sale consents for residential developments and two pre-sale consents for non-residential developments in the fourth quarter last year. The 12 pre-sale consents were issued for 10 residential developments, involving 8,351 units. Two developments in Tsuen Wan and Yuen Long comprising a total of 214 residential units are expected to be completed this year. Three developments ...more

13,850 Private Flats Forecast In 2018-19

Supply from all sources would have a capacity to produce about 13,850 private housing flats in the financial year of 2018-19, the Secretary for Development, Michael Wong said today. “This supply has taken account of the recently announced public/private split for the supply of new housing units in line with our Long Term Housing Strategy, under which a split of 70 percent vs 30 percent for public housing ...more

Kai Tak Site Sold

THE TENDER FOR A KAI TAK SITE HAS BEEN AWARDED ON A 50-YEAR LAND GRANT AT A PREMIUM OF $8.034 BILLION, THE LANDS DEPARTMENT ANNOUNCED TODAY. New Kowloon Inland Lot No. 6575 at Kai Tak Area 4B Site 2 was awarded to Macfull, a subsidiary of China Overseas Land & Investment. It has a site area of 9,048 sq m and is designated for private residential purposes. The minimum and maximum gross floor areas are ...more
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