Digest

Wheelock pays HK$3.5b for Kwun Tong site

Wheelock Properties outbid five other bidders to win a 76,240 sq ft commercial site in Kwun Tong tendered by the government for HK$3.528 billion, or HK$3,856 per buildable square foot. Managing director Ricky Wong Kwong-yiu said that including the land price, the developer would invest HK$5.5 billion to HK$6 billion. Paggie Leung