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I feel the impact:
1. Subject property yield < 7%. Not very attractive.
2. Subject property could be overpriced. Cost of development was 70M at 2015. Now selling at 320M. A windfall for the vendor.
3. Subject property occupation rate already peaked, meaning limited upward potential.
4. New issued (PP) shares are around 10% lower than market price. A big dilution to existing holder.
5. It's unfair practice that the PP only available to big players.
