CK Asset's Anderson Road project scandal in Hong Kong: a timeline of events
A CK Asset residential project in Hong Kong has been under the spotlight after the anti-corruption agency arrested 10 suspects and uncovered subcontractors allegedly offering incentives to site supervisors in exchange for lax oversight of subpar steel reinforcement work.
The latest bribery scandal is not the only hiccup for the project in Kwun Tong, which had its contractor changed in 2023 and its presale consent application rejected twice last year.
The Post tracks the project's development and controversies surrounding it.
March 2020: tender invite
Designated as Hong Kong's second 'starter home' project, the government invited tenders for the site on Anderson Road in Kwun Tong to help first-time flat buyers who are not eligible for subsidised housing.
Apart from providing private housing, at least 1,000 flats in the project have to be sold at 80 per cent of the market prices to Hongkongers who have never owned any residential property and met income and asset limits.
May 2020: successful bidder revealed
CK Asset's subsidiary Art Champion Investment beat eight other contenders, including companies under key developers in the city, and won the bid at a premium of HK$4.9 billion (US$625.7 million).
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