HONG KONG: Kerry Properties Ltd outbid Hong Kong giants Cheung Kong Property Holdings Ltd and Sun Hung Kai Properties Ltd with a HK$7.3bil (US$940mil) offer for government land in the territory’s Kowloon district, the highest price in 3½ years.
The price works out to about HK$21,206 per sq ft of saleable area, according to calculations by Bloomberg News based on figures released by the Hong Kong Lands Department on Wednesday. It’s the most that a piece of land has fetched in a government sale since March 2013, when Kerry Properties paid HK$11.7bil for a parcel in the Ho Man Tin district of Kowloon.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
