Property Sales

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Homebuyers in Hong Kong snapped up all 213 flats in Phase 2A of Sun Hung Kai Properties' Sierra Sea development by 9pm on Saturday. The project garnered 42,330 subscriptions, achieving a record oversubscription of over 197 times. Information on the 49 units offered via tender was not disclosed.

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The Commission on Audit has held five former officials of the Presidential Commission on Good Government, including ex-chair Juan Andres Bautista, liable for selling three sequestered properties at undervalued prices from 2012 to 2014, causing government losses of over P190.1 million. Coa rejected their petitions in a 16-page en banc decision released on October 24. Auditors questioned the sale prices based on a new appraisal by the Coa's Technical Services Office.

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