(March 28): Hong Kong’s property tycoons are swooping in on a rare opportunity to cherry-pick prime land and projects in mainland China as their counterparts there battle a credit crisis.
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One Hong Kong developer is offering half-price flats in the world’s most expensive residential market. Others have donated sprawling farmlands for public housing. And the scion of a property empire says it is time to put the city’s betterment above profits.
Two years after street demonstrations rocked Hong Kong and Chinese authorities pointed a finger of blame at sky-high home prices, the city’s tycoon developers are under pressure to help ease its housing crisis. Asia’s pre-eminent financial hub is not just expensive, it is also one of the world’s most densely populated, squeezing most of its 7.5 million dwellers into tiny
ONE Hong Kong developer is offering half-price flats in the world’s most expensive residential market. Others have donated sprawling farmlands for public housing. And the scion of a property empire says it’s time to put the city’s betterment above profits. Two years after street demonstrations rocked Hong Kong and Chinese…