A government land site in Kai Tak was tendered at HK$13,500 per square foot on Wednesday, raising HK$8.84 billion in total, and smashing a previous record for the area set two years earlier.
The price far exceeded analysts’ expectations, as it was more than double the HK$6,530 per sq ft China’s Poly Property paid to acquire a similar site in 2014, the prior price record for a land sale in the area.
“I am completely shocked ,”said Joseph Tsang, managing director of JLL…
Source : South China Morning Post
Read more…Hong Kong property experts ‘shocked’ at record sale result for Kai Tak area site















