More and more mainland Chinese developers are setting their sights on Hong Kong’s land market to diversify in the wake of the a property market slowdown at home, especially in smaller cities, as well as to take advantage of the falling land prices in the city.
Tian Ming, chairman of Nanjing-based Landsea Green Properties, said Hong Kong would be its priority overseas investment destination this year.
In an interview with the South China Morning Post, Tian said the company is in talks with Hong Kong’s Road King Infrastructure to set up a joint venture to bid for land in Hong Kong. He said he hopes to bring the company’s green technology to Hong Kong to build eco-friendly homes here.
“We’ll focus on the residential market and build properties for the middle class,” he said, but added the company is yet to identify any sites.
