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Reuters
Reuters
Business

Hong Kong adds security law clauses to land sales, property stocks drop

FILE PHOTO: A general view of Hong Kong, China July 13, 2021. REUTERS/Tyrone Siu/File Photo

Hong Kong's Lands Department has added national security clauses to all land sale and short-term lease tender documents in the Asian financial hub, the Development Bureau said on Monday, confirming an earlier media report that had sent property stocks tumbling.

The move empowers the government to disqualify bids and suspend short-term leases due to national security reasons, Hong Kong Economic Times report on Monday said, adding the terms had been included in the latest land sales.

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