Hong Kong developers water down new guidelines on controversial sales through tender

//Hong Kong developers water down new guidelines on controversial sales through tender

Hong Kong developers water down new guidelines on controversial sales through tender

An organisation representing Hong Kong’s property developers has relaxed its recent guidelines governing the controversial sale of new flats by tender.The move by the Real Estate Developers Association (REDA) of Hong Kong comes just a week after the city’s biggest developer was prosecuted for breaching official rules around the tender process.The sales method, in which buyers submit their bids in a closed, opaque process without knowing what the prevailing price is, has been heavily criticised…

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By | 2019-05-24T23:30:11+00:00 May 24th, 2019|Business|Comments Off on Hong Kong developers water down new guidelines on controversial sales through tender