November 9, 2012 / 2:15 AM / 5 years ago

PRESS DIGEST-Hong Kong-Nov 9

HONG KONG, Nov 9 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.


-- Walt Disney Co is considering adding three hotels to Hong Kong Disneyland, which is set to report a profit for the first time. A source familiar with Disney’s operation said the amusement park made a profit of more than HK$100 million ($12.90 million) on revenue exceeding HK$800 million in the financial year from October 2011 to this September, the first since it opened in 2005. ()

-- Hong Kong family businesses are increasingly becoming targets of takeovers by institutional investors as the older generation of entrepreneurs retires, bankers said. ()

-- Sino Land Co and South China Holdings are trying to sell a 33-storey office building in Central for HK$7 billion rather than by individual floors, to command a higher price for the property. ()


-- Peter Woo, boss of property giants Wharf Holdings Ltd and Wheelock & Co Ltd, has emerged as one of the biggest shareholders of rival Sun Hung Kai Properties Ltd , having rapidly built up a stake worth more than HK$5 billion this year, according to data provided by stock commentator David Webb. ()

-- New World Development Co Ltd chairman Henry Cheng wants officials to waive the 15 percent buyer’s stamp duty for locals who bought homes through holding companies. He said that the duty, meant to check prices, should be imposed only on non-locals. ()

-- Real estate agency Midland Realty expects home rents in Hong Kong to rise 3 percent by the year-end and rental transactions to gain 20 percent. ()


-- China Overseas Land & Investment Ltd, the country’s largest property developer by market value, said property sales for the first ten months totalled HK$100.7 billion, up 28.9 percent from a year earlier and exceeded the sales target this year in advance.


-- Property developer Shimao Property Holdings Ltd said contract sales for the first ten months totalled 39.2 billion yuan ($6.28 billion), and has exceeded 28 percent of the full-year sales target of 30.7 billion yuan.

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