government

10/10 News Roundup: URA received 9 tenders for Peel Street commercial site

URA received 9 tenders for Peel Street commercial site The Urban Renewal Authority (URA) received 9 tenders for a 29,000-square-foot commercial development site on Peel Street and Graham Street in Central. The project to be built on the site will provide a gross floor area of not more than 434,000 sq ft for office, hotel and retail purposes, as well …

Asif Ghafoor - October 10, 2017

12/15 News Roundup: HK Raised Base Rate by 0.25%, Following US Fed’s Move; Far East Sha Tau Kok New Project To Roll Out Next Year

HK Raised Base Rate by 0.25%, Following US Fed’s Move The US Federal Reserve announced that the benchmark interest rate would rise by 25 basis points, boosting federal fund rates to a target range of between 0.5 and 0.75 per cent, up from 0.25 to 0.5 per cent since December 2015. Fed Chair Janet Yellen expected three further rise in …

Asif Ghafoor - December 15, 2016

12/30 News Roundup: K Wah Won Kai Tak Plot for HK$5.8b, Hong Kong Set to Exceed Housing Supply Target

K Wah Won Kai Tak Plot for HK$5.8b K Wah International Holdings Ltd. has won Kai Tak Area 1K Site 2 for HK$5.868 billion, which lines at the upper limit of market expectation. The site has a total gross floor area of 574,270 square feet, putting it at about HK$10,200 per square foot – over 20% cheaper than the cost …

Asif Ghafoor - December 30, 2016

2/3 News Roundup: HIBOR Unlikely to Follow US Rate’s Hike, Island Garden Launched 50 Flats with Extra Discount

HIBOR Unlikely to Follow US Rate’s Hike The US Federal Reserve held interest rates unchanged in its first meeting since US President Donald Trump took office. Hong Kong Monetary Authority has reminded local banks, corporations and individuals “to remain vigilant and manage risks prudently” as the gradual normalization of US interest rates may affect global capital flows, exchange rates and …

Asif Ghafoor - February 3, 2017

4/12 News Roundup: Stamp Duty Policy Tightened for Multiple Flats Loophole, Eight Regency to Announce Price List Later

Stamp Duty Policy Tightened for Multiple Flats Loophole The government has further tightened its housing policy by announcing yesterday that if a buyer acquires more than one flat using just one document, the properties will be subject to a 15% stamp duty. The move, which came into effect from midnight, is aimed at plugging a loophole in which locals can …

Asif Ghafoor - April 12, 2017

4/6 News Roundup: March Home Sales Rose 43.6%, Government Warning on Multi-flat Stamp Duty Loophole

March Home Sales Rose 43.6% Sales of residential units in the secondary and primary markets in March rose 43.6%, to 5,856, according to the Land Registry, whose data showed total transaction value for residential units alone was HK$50.4 billion last month, 38.2% higher than February. The number of transactions in the secondary market jumped 71% to 4,085 deals in March …

Asif Ghafoor - April 6, 2017

5 Great Ways to Use the Rating and Valuation Department

When someone talks about ‘Rating and Valuation Department’ (RVD), what is the first thing that pops up to your mind? Rates, government rent or valuation of properties? In addition to calculating and collecting the rates and government rent of your property, RVD actually delivers a lot more services to the public. Here are 5 useful services that you might have never …

Spacious - May 6, 2020