Property News · December 16, 2016

Still keen: Kai Tak site draws 18 bids as Hong Kong developers maintain interest for land


Property developers submitted at least 18 bids for a parcel of land at Hong Kong’s former Kai Tak airport, a day after the long-awaited interest rate increase by the US Federal and Hong Kong Monetary Authority.
The parcel, adjacent to a Kai Tak site that sold for a record HK$8.84 billion in November, could yield 397,967 square feet in gross floor area, property agents said. The site, known as Kai Tak Area 1L Site 3, is valued at between HK$2.98 billion to HK$4.38 billion, or HK$7,500 per…

Source : South China Morning Post
Read more…Still keen: Kai Tak site draws 18 bids as Hong Kong developers maintain interest for land