Tai Cheung expects a fluctuating property market in Hong Kong

Tai Cheung Holdings (0088) Chairman David Chan expected a fluctuating property market in Hong Kong in the coming few years mainly owing to the high unemployment rate and sluggish economy. He believed that the return on investment in commercial buildings will be better than those in residential properties in the forthcoming two to three years. The company has no plans to launch new sites in the market for sale this year due to the disappointing market situation. The company holds 35% in Sheraton Hotel and both the accommodation rate as well as rental income grow by 5%-10% this year.

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