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Hong Kong-based real estate partner, Alan Yip is quoted in an article in Sing Tao Daily on the topic “Hong Kong’s First Cooperative Building Societies Project Approved for Compulsory Sale for Redevelopment, Accelerating M&A of Similar Projects”.

Sing Tao Daily reported that the application for the compulsory sale of Hong Kong’s first cooperative building societies project in Quarry Bay has been approved. In the article, Alan said the application for the compulsory sale of old buildings should be granted an order as long as it meets the requirements of the Land (Compulsory Sale for Redevelopment) Ordinance, without regard to restrictions on transferring ownership. Alan expects the project to boost developers’ confidence in M&As of cooperative building societies projects.