WTF are they thinking?

Money losing electronics firm decides to diversify by paying a record price (US$85.5k/sqm) for a residential property. The cynical may believe the vendor is not independent...

A listed electronic components manufacturer yesterday bought a house on The Peak for HK$60,215 per square foot, making it the most expensive home in Hong Kong in terms of price per square foot.
Sino-Tech International Holdings said they had agreed to buy house No 8 at Sun Hung Kai Properties (SEHK: 0016)' Severn 8 in Severn Road on The Peak for HK$280 million for investment purposes. The three-storey house has a gross area of 4,650 square feet and offers Victoria Harbour views.

HK Real estate shenanigans

Available for a lucky buyer: HK$357m: 39 Conduit Road, West Mid-Levels

Developer: Henderson Land Development (0012)

"The developer says the apartment is on the 66th floor, but the building is only 40 storeys high."

"So just what floor is the semiduplex in question actually on? "I can't tell you the answer to that, but we will tell the buyer the unit is on the 66th floor. Our top unit will be on the 88th floor, and the second-highest floor will be the 68th floor," the spokesman said."

Police fire into air to disperse thugs in eviction row

Property rights China style...

(01-19 16:40)
Police fired into the air to disperse a large group of thugs wielding clubs and machetes who were seeking to evict residents for a new development, authorities and local media said.

The incident erupted when the men descended on a residential area in Guiyang, capital of Guizhou, before dawn on Sunday, the Guizhou Metropolitan Daily reported.

Even as excavators started demolishing the buildings, the men stormed into homes, threatening to kill residents if they called the police.

Police were eventually alerted, and dozens of officers arrived.

''They fired into the air to warn the people,'' said a police officer in Guiyang district.

After the shots were fired, the armed thugs disappeared into the night, leaving clubs and machetes on the ground.

AGENCE-FRANCE-PRESSE