Kowloon Development has agreed to exchange land it had hoped to redevelop for years on the site of the former St Joseph’s Home for the Aged in Clear Water Bay, and will pay the largest land premium in four years for another site in Kowloon.The property developer said two of its subsidiaries agreed to surrender a 19,335 sq m (208,120 sq ft) lot at the historic site to the government and would pay a premium of HK$9.66 billion (US$1.24 billion) for a larger lot of 22,373 sq m with a 50-year lease…
Source : South China Morning Post
Read more…Kowloon Development to pay HK.66 billion premium in St Joseph’s Home for the Aged land exchange
