Property News · July 24, 2019

Hong Kong sells biggest plot of Kai Tak’s land at discount as city’s unrest drives investors to the sidelines and saps risk appetite


Hong Kong’s government sold the biggest plot of residential land at the former Kai Tak airport at lower than expected price, as seven consecutive weeks of increasingly violent street protests drove many developers to the sidelines and sapped their appetite for long-term investments.Dragon Star H.K. Investments, a consortium of three major developers, paid HK$12.74 billion (US$1.63 billion), or HK$11,841.70 per square foot, for Kai Tak Area 4A Site 1, according to an announcement by the Lands…

Source : South China Morning Post
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