Bids placed for Phoenix Tower

PUBLISHED : Friday, 27 November, 1998, 12:00am
UPDATED : Friday, 27 November, 1998, 12:00am

Six to seven potential buyers submitted bids for the foreclosure sale of Phoenix Tower in Causeway Bay, originally owned by the Hong Kong subsidiaries of collapsed Guangdong International Trust and Investment Corp, sources said. The tender, arranged by First Pacific Davies, closed yesterday. Creditors, including nine banks, which foreclosed on the building are expected to discuss the bids shortly.