Property News · May 7, 2019

Kai Tak’s third-largest plot of residential land goes to Henderson-led consortium for record HK$12.6 billion


A consortium of six developers including Henderson Land Development agreed to pay HK$12.6 billion (US$1.6 billion) for the third-largest residential plot at the runway of Hong Kong’s former Kai Tak airport. The total price translates to HK$19,636 per square foot, which means a flat complex built on the site will sell for at least HK$30,000 per sq ft, inclusive of a construction cost of HK$5,000 per sq ft and a 20 per cent profit margin for the developer. Besides Henderson, the consortium…

Source : South China Morning Post
Read more…Kai Tak’s third-largest plot of residential land goes to Henderson-led consortium for record HK.6 billion

You may also like...