Hutchison Whampoa Ltd. sold a second house in Hong Kong’s upmarket Victoria Peak area in a week for more than HK$500 million ($64 million), as developers accelerate sales amid expectations property prices are peaking.
Hong Kong’s property market is still in danger of overheating and a rise in interest rates would “indisputably” affect the city, Norman Chan, chief executive of the Hong Kong Monetary Authority said today.
Hong Kong should build a free-trade zone with the neighboring Chinese province of Guangdong to make it a more competitive commercial and financial center for the world’s second-biggest economy, a former top city official said.
Cheung Kong Infrastructure Holdings Ltd., controlled by Asia’s richest man Li Ka-shing, is interested in bidding for the Finnish electricity grid owned by Fortum Oyj, a person familiar with the matter said.
Fortum Oyj’s sale of its Finnish electricity grid has attracted interest from potential buyers including Hong Kong-based Cheung Kong Infrastructure Holdings Ltd. and Canada’s Borealis Infrastructure, according to people familiar with the talks.