〈The Standard, Aug 23, 2025〉The Buildings Department (BD) annnounced on Friday, it has initiated 205 prosecutions against two companies and six individuals involved in a major residential development in Kwun Tong, after an investigation revealed significant deviations from approved structural plans, including missing and misplaced steel reinforcements.
The BD launched the prosecutions following a report in August last year alleging non-compliance with the Buildings Ordinance at a construction site on Anderson Road.
The project, which includes six multi-story residential towers, was ordered to cease work immediately after the allegations surfaced.
〈Hong Kong Business, Aug 23, 2025〉The Bank of East Asia (BEA) will continue to be weighed down with ongoing strains in the commercial real estate (CRE) sector, but sustained diversification will help it counteract the pressure, said S&P Global Ratings.
S&P anticipates a modest decline in BEA’s profitability over the coming two years due to narrowing net interest margins (NIMs) amidst low interest rates in Hong Kong and China.
On the other hand, the bank is seeing positive momentum in its wealth management and treasury divisions. These are expected to further support growth in non-interest income and cushion the narrower NIM’s impact.
〈Asian Post, Aug 23, 2025〉Swire Properties has opened the sales gallery for The Headland Residences, a new residential project on Hong Kong Island’s east coast.
The sales gallery, known as The Tong Chong Suite, is located at Cambridge House in Taikoo Place. Highlights include expansive LED floor displays illustrating the development’s location and transport links, a panoramic media room for virtual tours, and a design gallery where visitors can experience materials and finishes firsthand.
Interactive digital screens also provide details of CLUB HEADLAND, the 80,000 sq ft private clubhouse offering an extensive range of amenities.
〈The Standard, Aug 23, 2025〉A non-industrial use land located at No. 569 Hoi Chu Road, Tuen Mun, will be leased to Sky Honest Limited, a subsidiary of Sino Land Company Limited for 50 years, said the Lands Department on Wednesday.
The tender closed on 8 August, with Sky Honest Limited beating out seven other well-known real estate companies, including subsidiaries controlled by China Overseas Land & Investment Limited, Kerry Properties Limited, and CK Asset Holdings Limited.
The total lease price was $1.089b, equivalent to a floor area premium of HK$3,850 per sq. ft, can accommodate over 600 residential units and is close to a future MTR station.
〈RTHK News, Aug 23, 2025〉The Buildings Department said on Friday it has launched prosecutions against two companies and seven individuals over the alleged failure to install reinforcement bars as required at a construction project in Kwun Tong.
The case relates to a Starter Homes Scheme project on Anderson Road under developer CK Asset.
The department said it was tipped off a year ago that there were issues with six residential blocks under construction at the site.
It said it found suspected Buildings Ordinance violations, with reinforced bars that deviated from the approved architectural plans.
