Bidders for core land parcels at a Hong Kong innovation hub must post a HK$100 million construction bond and complete development within 30 months. These strict requirements target well-capitalized companies.

Winning consortiums bidding for core land parcels at an innovation hub near Hong Kong’s border must post a HK$100 million (US$12.7 million) construction bond and meet a tight 30-month development deadline, according to tender documents obtained by the South China Morning Post. Industry leaders said the requirements, which deviated from those in conventional government land sales, suggested that the government was targeting “well-capitalised” bidders to eliminate the risk of stalled construction....