〈The Standard, June 3, 2023〉Developers are expected to speed up new home sales in the Northern Metropolis, as Novo Land in Tuen Mun will release the first price list for Phase 2A this week and High Park in Hung Shui Kiu might obtain pre-sale consent soon.

These two projects will provide about 2,000 new units, most of which are small flats, and will be priced at the market level.

For the Novo Land Phase 2A, developer Sun Hung Kai Properties (0016) uploaded the prospectus last week, and plans to unveil the first price list this week and to launch sales as early as the beginning of next month.

The first price list for Phase 2A will provide at least 186 units and covers one to three-bedroom homes, says SHKP.

〈The Standard, June 2 , 2023〉Hong kong's retailers are continuing to bet big on a recovery in tourism with two major rental deals recorded in shopping hub Tsim Sha Tsui.

Lung Fung Mall, a retailer of pharmaceutical and beauty products, has leased a 4,275-square-foot store at Manley House on Canton Road for HK$1 million a month, or HK$234 per sq ft.

The rent was 71 percent lower than the pre-pandemic levels.

And jewelry retailer Luk Fook has leased a 2,500-sq-ft store on Nathan Road for HK$550,000 a month, following its recent leases in Russell Street in Causeway Bay and Canton Road.

〈Asian Post, June 1, 2023〉The Government of Hong Kong recorded a deficit of $34.8b in the first month of the current financial year.

In a statement, the government said the deficit resulted from the difference between the expenditure at $69.6b and revenue at $34.8b in April in 2023.

A government spokesperson attributed the deficit during the month to some major types of revenue such as salaries and profits taxes mostly received by the end of a financial year.

〈Hong Kong Business, May 31, 2023〉As Hong Kong strives to return to normalcy,a IMF report reaffirmed the market’s status as a major international financial centre with robust institutional frameworks, substantial capital and liquidity buffers, high-quality financial sector regulation, and a well-functioning Linked Exchange Rate System (LERS).

“The Staff Report was released today following the IMF Executive Board's conclusion of the 2023 Article IV consultation with the Hong Kong Special Administrative Region. The report was endorsed by the Executive Board earlier this month,” read the government statement.

According to the report, Hong Kong continues to strengthen its economic growth and competitiveness.

Monetary Authority Chief Executive Eddie Yue also said the report was a “reaffirmation of the robustness and resilience of Hong Kong’s banking and financial system.”

〈Asian Post, May 30, 2023〉ING has closed the $404.8m inaugural infrastructure loan-backed securities (ILBS) issuance, named the Bauhinia ILBS 1 Limited (Bauhinia 1), for the Hong Kong Mortgage Corporation (HKMC).

ING acted as joint global coordinator, joint bookrunner, and joint lead manager for the issuance, which involved five classes of notes, including a dedicated sustainability tranche for which ING acted as the sole sustainable finance adviser.

Bauhinia 1 is backed by a diversified pool of 35 infrastructure and project finance loans across various sectors and geographies, ING said in a press release.