First seafront commercial plot of land on Kai Tak runway sells for record HK$11.1 billion

The first seafront commercial plot of land on the runway of Hong Kong’s former airport, Kai Tak, has sold for a record HK$11.1 billion (US$1.41 billion), the city’s Lands Department said on Wednesday.Hong Kong developer Goldin Financial Holdings shrugged off the turmoil of an escalating trade war to win the tender for Kai Tak 4C Site 4, the second commercial plot on the runway to be offered for sale. At HK$12,888 per square foot, the sale was broadly in line with a forecast of HK$13,000 per… Source link

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