Hong Kong Real Estate Tenders

Cooling down: The market has cooled significantly since its peak in August 2021, with prices dropping by nearly 20%.
Low turnover: Transaction volume is the lowest since 1997, and analysts predict even fewer sales in 2024.
Oversupply: An oversupply of luxury properties is putting further pressure on the market.

Government Procurement
Huge spender: The Hong Kong government is a major player in the real estate market, with annual procurement exceeding billions of dollars.
Wide range: The government procures a variety of real estate products and services, including land, buildings, construction, and maintenance.
Transparency: Procurement processes are governed by strict regulations and overseen by independent agencies.

Main Products and Services
Land: The government sells land through auctions and tenders, generating significant revenue.
Buildings: The government procures office buildings, schools, hospitals, and other public facilities.
Construction: Public infrastructure projects, such as roads and bridges, are also procured through government tenders.
Maintenance: The government outsources the maintenance of its vast real estate portfolio to private companies.

Top Authorities
Development Bureau: Responsible for overall land use planning and development.
Architectural Services Department: Provides architectural and engineering services for government projects.
Lands Department: Manages land sales and leases.
Government Property Agency: Oversees the government's property portfolio and procurement processes.

Top Winners
New World Development: One of the largest real estate developers in Hong Kong, with a strong track record in government projects.
Sun Hung Kai Properties: Another major developer, known for its expertise in building infrastructure and public facilities.
Gammon Construction: A leading construction company, with experience in a wide range of government projects.
Jardine Matheson: A diversified group with a substantial presence in the Hong Kong real estate market, including government procurement.

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