Property News · July 9, 2020

China Mobile outbids Hong Kong tycoons, Singapore rival with record price for Sha Tin industrial land in sign of market revival


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