Property News · December 2, 2020

China Overseas Land & Investment’s US$551 million bid for Kai Tak residential plot exceeds market expectation


A leading mainland-based developer paid a higher-than-expected price for a residential parcel at Hong Kong’s former airport, the first such sale by the government at Kai Tak this year.China Overseas Land & Investment, the mainland’s seventh largest developer by sales, bid HK$4.27 billion (US$550.8 million) for the Area 4E Site 1 measuring 59,719 sq ft in Kai Tak, Lands Department said on Wednesday. The price for the site, which can yield up to 328,453 sq ft in gross floor area, works out to HK…

Source : South China Morning Post
Read more…China Overseas Land & Investment’s US1 million bid for Kai Tak residential plot exceeds market expectation