Market Chatter: Hong Kong Government Takes Back 632 Private Lots for Infrastructure Projets

MT Newswires Live07-26

Hong Kong's Lands Department reverted 632 private plots of land in Tung Chung to the government for public infrastructure purposes, The Standard reported Friday.

The land plots have an aggregate area of 65,100 square meters. They will be reverted to the government effective in three months, or on Oct. 26, the report said.

The infrastructure works in the area include road expansion and sewage systems, and construction is expected to be completed in six years, the Standard said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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