Big Chinese Developers Push Into Hong Kong Market
China Vanke, others bid for land in territory long dominated by rich tycoons
HONG KONG—China’s property developers are aggressively bidding for prime public land in Hong Kong as competition heats up in a sector where Asia’s wealthiest tycoons built their fortunes.
For decades, large conglomerates controlled by Hong Kong’s richest families have ruled the city’s real-estate market, having developed the tall office towers that dot the iconic skyline to the endless rows of residential apartment blocks.
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