Hong Kong Sets Record in $5 Billion Land Sale
- City just saw biggest land sale in history despite protests
- Price is at lower end of estimate from property analysts
Nov. 25: Demand for HK Property Is Very Strong, Says Midland Realty’s Lau
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Hong Kong’s government fetched a record HK$42 billion ($5 billion) for a plot of land, a sale coming in at the lower end of estimates after the financial hub has been rocked by six months of pro-democracy protests.
A tender for the site, which sits atop the high-speed railway station in Kowloon that connects to mainland China’s urban hubs, was won by Sun Hung Kai Properties Ltd., the city said late Wednesday.