Car Park Site Sold at Record High Price in HK

Hong Kong government sold a commercial site in central district for a record high price.

Hong Kong developer Henderson Land Development outbid eight other developers including Cheung Kong Property, Wharf Holdings to buy the first commercial land to be sold by the government in the central district since 1996. Henderson will pay a record price of HKD23.3 billion (USD 3 billion), HKD55,914 per square foot, for the site.

The site, located at the verge of the central district at Murray Road, is currently a public car park building in the district. The company said it will use the site to develop an office building.

-- APMR News