Shui On chooses Mainland over Hong Kong

Shui On Chairman Vincent Lo Hong-sui said Shanghai residential property prices should rise 15% in 2005, according to report in the South China Morning Post. Speaking at groundbreaking ceremonies for a new government complex in Hong Kong where Shui On's construction unit is a contractor, he said Hong Kong residential prices had risen too sharply while the SAR's economic structuring had yet to be completed, raising uncertainty. He said Shui On no longer maintained a large land bank there since better growth prospects turned Shui On's focus to Shanghai, and China generally.