Hong Kong private sports clubs must pay land premiums or open doors as leases end

Hong Kong’s 15 private sports clubs must either pay one-third of their land premium, ranging from tens to hundreds of millions of dollars, or open their doors to the public when their leases expire at the end of the year, authorities have confirmed. The Culture, Sports and Tourism Bureau said on Tuesday that it has begun notifying the clubs and outlining lease renewal procedures, including premium payment requirements. The arrangement, first announced in 2019, ends the long-standing...