Property News · December 29, 2016

K Wah pays HK$5.87 billion for Kai Tak site, winning Hong Kong’s final land auction for 2016


K Wah International Holdings Ltd., the developer controlled by casino tycoon Lui Che-woo, has won the Hong Kong government’s final land auction of 2016, paying HK$5.868 billion for a piece of land at the former Kai Tak airport site.
The winning bid on the site, with a total gross floor area of 574,270 square feet, puts it at about HK$10,200 per sq ft according to Land Department’s data, in line with the market’s estimate of between HK$5.74 billion and HK$6.32 billion in total…

Source : South China Morning Post
Read more…K Wah pays HK.87 billion for Kai Tak site, winning Hong Kong’s final land auction for 2016