Hong Kong's property tycoons sacrifice profit to appease Beijing
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 m...