Property News · January 23, 2019

Sun Hung Kai pays US$1.43 billion for Kai Tak residential plot in subdued tender that underscores downbeat market


Sun Hung Kai Properties, Hong Kong’s biggest developer, has won a government tender for the fourth plot of residential land at Kai Tak, paying HK$11.26 billion (US$1.43 billion) for the parcel at the city’s former airport.
At HK$17,360 per sq ft, the winning price for Kai Tak Area 4C Site 3 was the highest paid for a purely residential plot in the area, close to the lower end of the price range expected by valuers, of between HK$10.4 billion and HK$13 billion, or HK$16,000 to HK$20,…

Source : South China Morning Post
Read more…Sun Hung Kai pays US.43 billion for Kai Tak residential plot in subdued tender that underscores downbeat market

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