Property News · December 19, 2016

HNA wins second site in Kai Tak for HK$5.41 billion, sets new record


Chinese conglomerate HNA Holding Group has paid a record HK$13,600 per square foot for its second residential site in the Kai Tak area.
The Lands Department awarded the 94,755 square foot site, known as Kai Tak Area 1L Site 3, to Sky Hero Development, a unit of HNA, for HK$5.41 billion on Monday.
The winning bid was 24 per cent to 38 per cent higher than market expectations of HK$2.98 billion to HK$4.38 billion.
Last month, HNA paid a record HK$8.84 billion, or HK$13,500 per sq ft.

Source : South China Morning Post
Read more…HNA wins second site in Kai Tak for HK.41 billion, sets new record

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