HK builders slash debt, raise cash to buy more land
Developers expect further price falls as government releases more sites for sale
Fri, Sep 19, 2014 - 12:00 AM
Looking out for more sites: Hong Kong's government is accelerating land sales to boost housing supply by 470,000 units over the next decade. - FILE PHOTO
[HONG KONG] Billionaires including Li Ka-shing and Robert Ng have cut debt at their Hong Kong developers to near-record lows in preparation to buy land as prices fall, a signal the city's real estate gains may be coming to an end.
Cheung Kong Holdings brought its net debt-to-equity ratio...