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End of “obscene” profits for Hong Kong property firms

Posted on 03 September 2012

Hong Kong’s home builders are bidding cautiously on land to develop, wary of shrinking profit margins as the city’s new leader pushes for more affordable housing in the world’s most expensive residential real estate market.
Property developer Cheung Kong Holdings, founded by Asia’s richest man, Li Ka-shing, bought only one new plot in the city in the first half of this year, an unusually quiet span for Asia’s No. 2 developer by market value………………………………………..Full Article: Source


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