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Ngong Ping 360 Ltd., the Hong Kong cable car operator controlled by MTR Corp, will suspend services for two months to replace parts and conduct maintenance following a malfunction that stranded about 800 passengers.
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Poultry imports from the part of southern China where a man died from the H5N1 virus remain banned in Hong Kong after genetic tests linked the man’s strain of the disease to the version found in wild birds in the city.
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Harrow International, an arm of the 439-year-old British school that educated Winston Churchill, will spend as much as HK$1 billion ($129 million) on a campus in Hong Kong, where school waiting lists are as long as three years.
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Hong Kong’s abandoned Kai Tak Airport, idle for 13 years, may hold the answer to a space shortage in the world’s costliest office market where banks including Goldman Sachs Group Inc. jostle for towers.
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Hong Kong’s government sold a site at a land auction today to Nan Fung Development Ltd. for almost a third less than surveyors’ estimates as government measures to curb property speculation cool demand.
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The Hong Kong government’s HK$10.9 billion ($1.4 billion) sale of a residential site at a public auction beat estimates and showed home demand is withstanding efforts to cool the market.
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Hong Kong’s government pledged to continue to boost land supply as it tries to cool the property market, a day after its first auction of the fiscal year fetched almost a third less than surveyors’ estimates.
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A Henderson Land Development Co. subsidiary bought a Hong Kong building site for HK$1.33 billion ($170 million) in the second auction this year to miss surveyors’ estimates as the government moves to ease concern about a property bubble.
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Hong Kong developers may pay HK$8.41 billion ($1.08 billion) for a residential site at a government auction tomorrow, as some analysts cut their estimates after two previous land sales missed forecasts and apartment prices fell in the last two weeks.
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Martin Lee, the youngest son of Hong Kong real estate tycoon Lee Shau-kee , paid HK$1.82 billion ($233 million) for a site in the city’s most expensive residential area, signaling luxury home demand is withstanding government measures to avert a bubble.
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