RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Developers mull $46b debt raise to fund Yau Tong Bay housing project

It could be the largest mixed-use project in 21 years.

Bloomberg report that a consortium of developers led by Henderson Land Development is said to be in talk with banks to raise roughly $46b (US$5.9b) via bonds and loans to fund a residential project in Yau Tong Bay.

Also read: Government urged to boost home density in Kowloon and New Territories

Henderson Land has a 22.8% interest in the project, according to an interim report in September. Other members of the consortium include Wheelock & Co., New World Development Co., Sun Hung Kai Properties Ltd., Hang Lung Properties Ltd. and Central Development Ltd.

If the development comes through, the Yau Tong site would be the largest mixed-use project in Hong Kong in 21 years, according to Thomas Lam, an executive director at Knight Frank LLP.

It could also provide about 6,200 apartments in its initial phases, according to a report from the Hong Kong Economic Times.

Here’s more from Bloomberg:

Photo from Wing1990hk - Own work, CC BY 3.0

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