Sun Hung Kai Beats Expectations With Offer for Hong Kong Site

  • $305 million price exceeds market expectations by about 25%
  • Property will be used to build luxury development company says

Hong Kong’s biggest developer, Sun Hung Kai Properties Ltd., outbid 10 other companies with a HK$2.4 billion ($305 million) offer for a site, as builders selectively add to their land banks.

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