Hong Kong Land Sale Beats Expectations With $181 Million Offer

  • Small developer Gingerlily outbids Sun Hung Kai Properties
  • Price of HK$6,795 per square foot beats HK$6,000 expectation

Gingerlily Investments Ltd., a smaller property developer, outbid Hong Kong giants Sun Hung Kai Properties Ltd. and Cheung Kong Property Holdings Ltd. with a HK$1.4 billion ($181 million) offer for land in the territory’s Tuen Mun district.

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