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Hong Kong's Manhattan Realty wins Tsing Lung site for 960 mln hkd


Published : Tue, 29 May 2007 08:25
By : Agencies
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HONG KONG (XFN-ASIA) - Mid-tier developer Manhattan Realty won the government land auction for the 161,723-square foot Tsing Lung Road site in a residential area in the Tuen Mun district of Hong Kong, for 960 mln hkd.

The sale price was in line with analysts' forecasts of between 938 mln and 1 bln hkd, and was 64 pct above the minimum bid price of 585 mln hkd.

The site when developed could produce 270,998 sq ft in gross floor area, officials said.

Bidding for another site in Tuen Mun located on Tsing Fat street is ongoing.

(1 usd = 7.8 hkd)

roby.lau@xfn.com

rl/lw/net

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