Jane Hu, a financial adviser from the Southern Chinese city of Huizhou, travels to the outskirts of Hong Kong to shop with her friends at least once a month. They rarely venture into the city center or stay overnight.
The Kwok family trust, which controls Sun Hung Kai Properties Ltd., has agreed to pay about HK$800 million ($103 million) in land premiums to the Hong Kong government to turn a building site in the city’s Island South district into a luxury housing project, Ming Pao reported, citing people it didn’t identify.
Sun Hung Kai Properties Ltd., Hong Kong’s biggest developer by value, bought a building site for less than analysts’ estimates, underscoring concerns that rising supply and slowing global growth may crimp home prices.
Swire Properties Ltd., landlord to Time Warner Inc. and Societe Generale in Hong Kong, seeks to raise as much as HK$20.8 billion ($2.7 billion) in what would be the city’s largest initial public offering since 2007.