Development Bureau: the official bidder to the equity transfer industry that if the case does not rule out the increase in the government limit
Hong A real estate 24.41 billion yuan to sell Ma On Shan Bai Shi Yao Sha Road, residential land of 60% stake, due to the second resale, attracted market concerns whether there is speculation officer suspected. When the Development Bureau responded to the report, the Tender Soldier restricted the transfer of title, but not to the transfer of the equity interest of the winning company, and did not speculate whether this was related to the property price. There are industry sources said that the restrictions on the transfer of ownership is difficult to resist the developers of Tuli, and it is expected that if similar cases increased, do not rule out the government in the sale of land to join the new terms. Ming Pao reporter Gan Jieying
Hong An sold 60% stake this week, up 55%
Ma On Shan Yao Sha Road land by the Asian joint infrastructure (0711, formerly known as Junhe) and China’s urban construction in December 2014 to 2.13 billion yuan investment in land, per foot floor price of only 5517 yuan, but the city did not perform capital injection, Asia Joint infrastructure to start the legal process, and finally in June this year will be held by the company’s shares resold to Hongan City, the city reported price of 2.63 billion yuan, equivalent to 6787 yuan per square foot land price. Former Development Director Ma Shaoxiang responded in June this year, to resell the company shares or the parent company to transfer its shares, not too much comment.
Do not speculate on the relationship between equity transfer and property prices
After three months, Hongan will hold the land company’s 60% stake in the company to 2.44 billion yuan sold to the house Country Garden (2007), equivalent to the floor price per foot rose to about 10,500 yuan, higher than in June this year Fifty and half, attracted market attention. In the event of a detailed written response to the above-mentioned event development bureau, the Land Owners have not been reselling the land so far in 2014 through open tender, which belongs to the owner of the land company change.
The Development Bureau reiterates that the Government’s land contract for the sale of land is generally subject to the terms of the land transfer prior to the issue of the certificate of completion of the contract (ie, satisfactory paper). The contents of the restriction shall be made to the relevant provisions and can not be generalized.
The agency also said that, in general, if a land is purchased by a company, the company will become a land owner. Where the landowner transfers the land to another person or company, the land title will be transferred to the other person or company, and the transfer restrictions (if any) contained in the land contract are generally for such transfer. This transfer of land is different from the landowner’s shareholders to transfer their shares, the equity transfer does not change the land title and the owner of the land contract in the performance of the responsibility, and therefore is not a general lease to be subject to restrictions. Similarly, on the white stone Yao Sha Road land, the relevant land lease only restricts the transfer of land titles, does not limit the success of the tender company’s equity transfer.
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The Development Bureau added that changes in property prices were affected by a number of factors, supply and demand factors, external and Mainland economic conditions, Hong Kong’s own economy and employment situation, and interest factors. The sale price of the building after the completion of the sale is determined at the prevailing market price. Therefore, the market price of the building is not necessarily related to the cost or the sale of the shares. The Government is not suitable for speculation.
“The developer is aiming to transfer risks and lock down profits, is a normal commercial activity, but due to the high cost of property, the land is easy to understand because of the rise in prices," said Mr Lam Ho-wen, senior director and valuation and counselor at Lai Man. The He expects that if the number of similar cases increases, the government may add new terms when selling land.
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In June 2017, the Secretary for Development, Ma Shaoxiang: the land has a contract clause, the main restrictions on the developer in a certain period of time to complete the project, no matter which company, as long as the winning company, you need to follow the terms of the lease to complete the work. As for some resale, if the resale of the company shares, or the parent company to transfer its shares, the government is not suitable for too many comments. Many times the price of land sales is not necessarily directly related to the future sale of property prices, the Government will continue to maintain a stable and stable land supply
September 2017 Development Bureau Written response: The landlord, through the tender for the sale of land, generally contains provisions that limit the transfer of land before the issue of the certificate of completion of the contract (ie, satisfactory paper), the contents of which are subject to the relevant provisions, In general. On the white stone Yao Sha Road land, the relevant land lease only restricts the transfer of land titles, does not limit the success of the tender company’s equity transfer. Changes in property prices are affected by a number of factors, supply and demand factors, external and Mainland economic conditions, Hong Kong’s own economy and employment situation, and interest factors. Therefore, property prices are the result of many different factors affecting each other. The price of the sale after the completion of the sale of the building is determined at the prevailing market price. It can be said that the market price at the time of sale is not necessarily related to the cost or the sale of the shares. The Government is not fit to speculate