Sino Land wins Pak Shek Kok site A for 2.11 bln hkd in Hong Kong land auction |
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Published
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Tue, 13 Mar 2007 08:37
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HONG KONG (XFN-ASIA) - Sino Land Co Ltd won a 107,941-square foot site at Pak Shek Kok reclamation phase 1 in Hong Kong's New Territories with a bid of 2.11 bln hkd in a government land auction today.Analysts had expected the site, which had a minimum asking price of 1.0 bln hkd, to fetch 1.73-1.89 bln hkd. The sale price was 111 pct above the minimum price.The site, dubbed site A, can produce a minimum gross floor area (GFA) of 345,406 sq ft.Bidding for another site at Pak Shek Kok, a 214,225-square foot square foot plot adjacent to the site A, is currently underway. The starting price was 2.1 bln hkd.The government is offering a total of three sites in today's auction.Cheung Kong (Holdings) executive director Grace Woo, Wharf Holdings' executive director Ricky Wong, Henderson Land vice chairman Martin Lee, Sino Land chairman Robert N and New World Development executive director Stewart Leung were among those attending today's auction.Representatives from Hang Lung Properties, K Wah International, Kerry Properties, Nan Fung were also present.(1 usd = 7.8 hkd)roby.lau@xfn.comrl/lw/rc
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Hong Kong shares lower; properties mixed ahead of land auction - UPDATE 