Into the price openly increase the transparency
In recent years, the government has sold the land for sale in the tender form and announced the name of the consortium and the winning bid price at the opening of bidding. However, the government still criticized the market for lack of transparency. Secretary for Development Wong Wai-lun announced that it would further increase the transparency of the tender and decided to raise the bidding transparency by 2018 Since April 2010, the successful completion of the successful bidder’s transaction formalities will be announced by the government on an anonymous basis for the bidding of the industry. It will also respond to the market’s concern about the land sales results.
At the moment when the Government announces the result of the tender, apart from notifying the winning bidder and the amount of the successful bidder, the names of other bidders and the parent company will also be announced. Wong Wai-lun said that the relevant practice will continue to be used and the government will publish the tender results about 4 weeks later , To be completed all the successful transaction procedures, by anonymous bidding announcement of other bidders.
Wong Wai-lun revealed that the supply of land in Hong Kong is tight and many bidders are involved, including Hong Kong businessmen, foreign businessmen and investment funds. The public are very much concerned about the location and prices of land for sale and even the market indicators. We hope that with the new measures, And provide more information to the market reference.
Asked why he had failed to announce the remaining bid prices on the day the tender was announced, Wong Wai Lun explained that it would be more appropriate to announce after the completion of the entire transaction if the same date was announced or the chances of success of the bid winner were increased. Emphasis was placed on the current tender offer Land, allowing prospective buyers in a calm and rational environment into the tender, no intention to change the practice.