Hong Kong Economic Times – Financial News – Seeing the vicissitudes of Causeway Bay from an old building – Gao Tianyou – News Comments

April 23, 2024

Gao Tianyou
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The property market is weak, so it is not surprising that official land auctions have failed bids, but it is more surprising that “forced auctions” have failed bids. This “strange case” occurred recently, involving the 65-year-old Xiyun Building in Causeway Bay. The incident happened as early as 2019, Jin Chaoyang (00878) had collected 80% of the ownership of the building and applied for forced auction. However, due to the complicated procedures and the impact of the epidemic, it was not allowed to hold the auction until a few days ago; however, Hong Kong and Causeway Bay have experienced highs and lows in the past five years. , it is difficult to acquire and rebuild at high prices…

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