Henderson Land considers building HK$1m flats

Henderson Land Development chairman Lee Shau-kee said his company will consider building low-priced homes in the New Territories costing HK$1 million each, as long as the government provides them with incentives.

"[If the government] waives land premium charges on farmland modifications, [we] hopefully can build flats of 300 square feet at a price of HK$1 million," Lee said.

Lee, who spoke on the sidelines of a public event at the Lee Shau Kee Lecture Centre at the University of Hong Kong, said the land premium wavier could apply to abandoned farmland.

via Business feed http://www.scmp.com/business/companies/article/1121585/henderson-land-considers-building-hk1m-flats