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Mainland Firm Got Kai Tak Site for HK$8.8 billion, AVA 55 Average Prices At HK$17,880/sqft
Hong Kong Property | November 3, 2016
Mainland Firm Bought Kai Tak Site for HK$8.8 billion
A mainland firm Hongkong Island Construction Properties acquired a Kai Tak residential site for HK$8.837 billion, 1.5 times over the market evaluation. The site occupies 121,224 square feet and the land price per square foot reaches HK$13,500, making it the highest record in the district.
AVA 55 Average Prices At HK$17,880/sqft
AVA 55 announced the first price list for its initial batch of 38 units yesterday. The price ranges from HK$3.29 to 7.46 million, whilst HK$19,109 to 24,018 per square foot. The developer MT Sister will offer a maximum of 10% discount that the average discounted price per square feet is HK$19,300. The cheapest studio apartment costs HK$2.96 million or HK$17,880 per square foot, with a size of 166 square feet.
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