MTR’s Tung Chung sale draws a tepid response as developers recoil at huge sum needed to build in inconvenient location

A major sale of residential land in Hong Kong drew a tepid response from developers, as six of the seven companies that showed interest last month recoiled at the investments needed, in a possible shift in priorities amid the government’s plan to build a Northern Metropolis near the city’s border with Shenzhen.A plot in Tung Chung on Lantau Island, where the city’s Disneyland resort and airport are located, received at least five bids, far fewer than the 35 expressions of interest, according to…

MTR’s Tung Chung sale draws a tepid response as developers recoil at huge sum needed to build in inconvenient location
A major sale of residential land in Hong Kong drew a tepid response from developers, as six of the seven companies that showed interest last month recoiled at the investments needed, in a possible shift in priorities amid the government’s plan to build a Northern Metropolis near the city’s border with Shenzhen.A plot in Tung Chung on Lantau Island, where the city’s Disneyland resort and airport are located, received at least five bids, far fewer than the 35 expressions of interest, according to…