Minmetals Land Pays $515 Million for Hong Kong Kowloon Site

  • Chinese developer outbids Sun Hung Kai Properties, Sino Land
  • Site near cement factory sells for almost twice estimates

Minmetals Land Ltd., a Chinese developer, outbid Hong Kong giants Sun Hung Kai Properties Ltd. and Sino Land Co. with an HK$4 billion ($515 million) offer for land in the territory’s Kowloon district.

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