Property News · February 10, 2017

Poly Property Group fails in bid to acquire third Kai Tak site


Poly Property Group, the Hong Kong listed arm of state-owned China Poly Group, failed to secure a third plot of land in the city after it was outbid by rivals in the bidding for four residential sites at Kai Tak offered by government tender.
The group’s failure could be attributed to its overtly cautious stance, especially at a time when land prices have been surging in the city. Poly was outbid by Chinese conglomerate HNA Group which won the Kai Tak Area 1L Site 3 and Kai Tak Area 1L…

Source : South China Morning Post
Read more…Poly Property Group fails in bid to acquire third Kai Tak site

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