China Mobile, the world’s largest wireless network operator, has agreed to pay a record price for a parcel of industrial land in Hong Kong to outbid a handful of Hong Kong tycoons, possibly signaling the return of powerful mainland buyers to the city’s property market.The telecommunications group offered HK$5.6 billion (US$722.6 million) for the 98,792-square foot (9,178 square metres) site in Sha Tin, New Territories with a 50-year lease, according to tender results published by the Lands…
Source : South China Morning Post
Read more…China Mobile outbids Hong Kong tycoons, Singapore rival with record price for Sha Tin industrial land in sign of market revival















