Nan Fung Won Kai Tak Commercial Site for HK$24.6b
Nan Fung Development has won a commercial site in Kai Tak for HK$24.6 billion, smashing the record set by the Murray Road site in Central just two weeks ago. Henderson Land paid $23.2 billion, or HK$50,065 per square foot, for the former Murray Road car park in Central. Nan Fung bought the 200,500-square-foot Kai Tak site, named Area 1F Site 2, by government tender with a price of HK$12,864 per square foot. The plot can provide about 1.9 million square feet of total gross floor area, including an underground shopping street and a public transport interchange. It is also designated for office, retail or hotel development.
Ocean Pride 346 Units Sold Out
Increasingly generous mortgage offers by finance companies to counter the government’s credit tightening have helped Cheung Kong Property Holdings sell all 346 units in the second round of sale for its Tsuen Wan residential project. The sales office of the Ocean Pride development were jam packed with hundreds of purchasers and agents who have again flocked to the premise before the registration started at 10AM on Wednesday. CK Property said “all 346 units had been subscribed at 3:45PM.” Together with the first round sale of 496 units, CK has sold 842 units in the two days of sale.