Property News · December 18, 2019

State-backed conglomerate Citic Pacific wins bid for Tai Hang luxury residential site for HK$3.2 billion


Hong Kong-listed and Chinese state-backed conglomerate Citic Pacific has won a luxury residential plot in Tai Hang, southeast of Causeway Bay, for HK$3.2 billion (US$410.8 million), the city’s Lands Department said on Wednesday.The company beat 24 other bidders for the plot, which was initially expected to go for a bid between HK$1.7 billion and HK$5.41 billion (US$218 million and US$694 million), according to market observers.The winning bid is being viewed as indicative of the cautious…

Source : South China Morning Post
Read more…State-backed conglomerate Citic Pacific wins bid for Tai Hang luxury residential site for HK.2 billion

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