Henderson Land Development, chaired by property tycoon Lee Shau-kee, has paid the reserve price of HK$1.689 billion (US$216.56 million) for a 53-year-old residential block in Tai Kok Tsui, an area west of Mong Kok in Kowloon, which it aims to redevelop.
With government land sales remaining scarce, the Hoi Hing Building was bought under Hong Kong’s “Land Compulsory Sales for Redevelopment Ordinance”, under which developers are able to force a compulsory auction to buy the…
Source : South China Morning Post
Read more…Henderson Land buys 53-year-old Kowloon residential block for US6m















