Property News · August 12, 2019

Far East picks up the smallest land plot at Kai Tak at discount, as public unrest deters developers from long-term investments


Hong Kong’s government sold the smallest land parcel at the former Kai Tak airport at a discount to market expectations, as the city’s 10 consecutive weeks of public unrest deterred developers from committing to long-term investments.The commercial site, located next to the Kai Tak Sports Park built over the former airfield, sold for HK$2.45 billion (US$312 million), 9.4 per cent less than the lower end of the HK$2.7 billion to HK$3.6 billion range that valuers were looking for. Far East…

Source : South China Morning Post
Read more…Far East picks up the smallest land plot at Kai Tak at discount, as public unrest deters developers from long-term investments

You may also like...