Judicial challenges may affect land sales price and expose developers to higher risks
10 March 2016
Sing Tao Daily
Sing Tao Daily interviews Alan Yip to discuss some hot-button legal topics in Hong Kong’s real estate market. Alan shared his views on recent judicial challenges by environmental protection groups to new land grants by the Hong Kong government and how those legal actions may affect developers in proceeding with their developments and increase in associated costs. Alan also reviewed the implementation of the Residential Properties (First-hand Sales) Ordinance after it has been in force for more than three years. Alan explains why he does not consider the Sales of First-hand Residential Properties Authority as “toothless” due to the lack of enforcement actions against developers. In light of the significant increase of mainland Chinese developers investing in Hong Kong’s real estate market in recent years, Alan also highlighted the need for lawyers to improve their skills in the Mandarin language to serve clients from mainland China.