[RSS] First developer withdraws from Hong Kong land sharing scheme amid slow economy

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[RSS] First developer withdraws from Hong Kong land sharing scheme amid slow economy

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An application made to a scheme designed to boost Hong Kong’s housing supply by tapping into developers’ reserves has been withdrawn for the first time amid a lukewarm response, with experts attributing the move to a sluggish economy. Brasilia, a subsidiary of Lee On Investment (Holdings), made the withdrawal of its application to the Land Sharing Pilot Scheme for a plot measuring 3.1 hectares (7.7 acres) in Yuen Long involving more than 2,000 homes earlier this year. The government did not...

Source: https://www.scmp.com/news/hong-kong/soc ... e=rss_feed
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