Developer K&K Property announced a six-year structural warranty for owners of its luxury development One Stanley. The company issued a statement late on Friday, saying it valued recent public attention on one of the project's detached houses.
One Stanley developer Chik Wai Limited announced that, in addition to the original three-year "defects liability period", it will provide owners with an additional six years of structural maintenance for the property from the date of handover, and will bear the cost of engaging an independent qualified professional to carry out inspections. The floor slab reinforcement in some of the detached houses concerned does not comply with the plans, and the Buildings Department is conducting further investigations into certain construction quality issues; departmental information shows that the overall structure of the units concerned does not present any obvious danger.
One Stanley developer K Wise has promised owners a 6-year structural warranty and free independent inspection, responding to an investigation into suspected steel reinforcement defects at the seaside luxury development. K Wise, a subsidiary of One Stanley developer K&K Property, issued a statement on Friday setting out remedial arrangements, a week after local property media reports raised questions.
The Centaline City Leading Index (CCL), which reflects second-hand home prices in Hong Kong, came in at 161.2 in its latest reading, up 0.69% week on week, ending two consecutive weeks of decline, with a cumulative rise of 11.86% so far this year. The Large Estate Leading Index rose 0.7% week on week, while the Medium and Small Unit and Large Unit indices rose 0.64% and 0.94% respectively. Among the four regions, only New Territories East fell, by 0.78%. Centaline Property said several banks had launched mortgage offers and raised cash rebates, which it expected would support home prices.
The Chief Executive in Council has approved the Tsuen Wan outline zoning plan, providing statutory land-use planning guidance for development and redevelopment in the district. The planning area covers about 743 hectares, encompassing Tsuen Wan Valley and nearby areas. The main amendment rezones a site at Fu Yung Shan to the "Residential (Group C) 9" zone for private housing, an elderly care home and public car park development. Approved plan No. S/TW/41 is now available for public inspection at five locations, including the Secretariat of the Town Planning Board, and an electronic version can also be viewed on the Board's website (www.tpb.gov.hk).
The Chief Executive in Council has approved the draft Outline Zoning Plan for Hung Shui Kiu and Ha Tsuen, providing statutory land use planning guidance for development and redevelopment of about 707 hectares in the area. The amendments include rezoning part of the land as "Industrial Estate" zone to tie in with the development of Hung Shui Kiu Industrial Estate, changing three sites in Area 4B to private residential use, and changing the height restriction of the redevelopment site for Po On Hospital Yeung Chun Pui Nursing Home from three storeys to 50 metres above Principal Datum. The approved plan, numbered S/HSK/4, is now available for public inspection at the Secretariat of the Town Planning Board and other locations, and an electronic version can be viewed at www.tpb.gov.hk.
Why read this: The draft plan involves five specific zoning amendments within an area of about 707 hectares, including an industrial park, private residential and a nursing home redevelopment, allowing readers to cross-check the planning use of their own or areas of concern.
Translation is not available yet. Showing the Traditional Chinese version.
The Lands Department is tendering three government sites in Kwai Tsing, Tuen Mun and Yuen Long for short-term lease, with bids closing on 9 November. Eligible brownfield operators affected by the resumption and clearance of land for related government development projects by the fourth quarter of 2029 may lease the sites, which are suitable for open storage, warehouses, workshops, recycling and circular economy or reprocessing operations.
Legislators and the engineering sector have called on Hong Kong to review its building inspection mechanism and set up a blacklist barring problematic contractors from taking part in government tenders. The trigger was developer CK Asset announcing that half of Hong Kong's first privately built starter homes project would be demolished because of substandard rebar work. Legislators and engineers urged the government to strengthen regulation and increase regulatory manpower.
The Legislative Council held a third day of combined debate on Hong Kong's first five-year plan and the Policy Address motion. Ronnie Chan expressed concern about the progress of simple housing registration, suggesting that the authorities continue to encourage owners to register and assist with professional certification. He was pleased that the plan established a target of basically resolving the problem of substandard subdivided units within residential buildings by 2030. Chow Siu-sung said the unemployment rate in the catering industry had risen to 6.8 per cent, with the number of unemployed reaching 16,000, while approvals for imported foreign labour for chefs and waiters exceeded 19,000 and 14,000 respectively, suggesting that the authorities reduce or even suspend the importation of foreign labour.
Hong Kong's Independent Commission Against Corruption (ICAC) has charged 58-year-old Zhang Yadong, former chairman of Greentown China, alleging that he accepted a bribe of HK$20 million (US$2.5 million) from a mainland property developer in exchange for taking a stake in the developer's property projects. Zhang served as chairman of Greentown China Holdings from 2019 to 2025 and has been charged with one count of conspiracy to accept an advantage. The case has been mentioned in court.
The ICAC has charged Zhang Yadong, former chairman of Greentown China Holdings Limited, alleging that he accepted a bribe of HK$20 million, leading the company to acquire a property project in Dalian for RMB440 million. The case was mentioned in the Eastern Magistrates' Court today, with the charge alleging that he conspired with others to accept bribes, which were suspected to have been deposited in multiple instalments into his son's bank account.
Why read this: The report lists the HK$20 million bribe, the RMB440 million acquisition price and the charge period from January 2020 to March 2023, allowing readers to verify the specific details of the ICAC's allegations.
The heir to Swiss lingerie brand Triumph has bought a ground-floor retail shop unit in Central, with the seller being a local developer that had held the property for over 50 years. The transaction was confirmed by Land Registry data. Analysts described the deal as "highly unusual", noting that international capital acquiring local Hong Kong retail assets is not common. Triumph International did not respond to a request for comment.
CITIC International expects the US to hold off on rate hikes this year, with 3 hikes possibly next year, and Hong Kong dollar interbank rates will rise in line with US dollar rate hikes. The bank estimates that Hong Kong's prime lending rate (P) will rise by 0.125厘 in the first quarter of next year, with a full-year increase of 0.25厘. The bank said US rate hikes have recently slowed property market transactions, and net rental yields are unlikely to outperform US dollar deposit rates, forecasting that local residential prices in 2027 will fall by about 5% from this year's base.