Property News · August 16, 2018

Kowloon plot sells for under HK$10,000 per sq ft for first time since November 2016 in government auction


A plot in Kowloon has been auctioned for under HK$10,000 per square foot, the first time urban land has been sold for such a low price in nearly two years.
Poly Property Group, the Hong Kong-listed arm of state-owned China Poly Group, won the auction for the 39,612 sq ft plot on Ko Chiu Road in Yau Tong for HK$3.3 billion (US$420 million) or HK$9,257 per sq ft, the Lands Department announced on Wednesday.
In the process Poly Property became the first mainland-based developer to win government…

Source : South China Morning Post
Read more…Kowloon plot sells for under HK,000 per sq ft for first time since November 2016 in government auction

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