Business Digest, February 18, 2013

PUBLISHED : Monday, 18 February, 2013, 12:00am
UPDATED : Monday, 18 February, 2013, 3:33am

Residence 88 to bring SHKP HK$2.1b in sales

Sun Hung Kai Properties says it will reap sales of HK$2.1 billion if all flats in Residence 88 are sold. The company had sold more than 150 flats in the Yuen Long project by Saturday, at prices ranging from HK$7,200 to HK$16,425 per square foot of gross floor area, or HK$9,244 to HK$20,833 per square foot of saleable area. The dearest unit fetched HK$26 million. Peggy Sito


Building of Beijing line No 16 to start in March

Construction of a new Beijing metro line costing about 36 billion yuan (HK$44.7 billion) will begin next month to help ease congestion, Xinhua said, citing an announcement from the company overseeing the project. The No 16 line would start operating by the end of 2016, Xinhua reported. Bloomberg


South Korean finance chief also deputy PM

South Korea's president-elect Park Geun-hye has appointed Hyun Oh-seok finance minister. Hyun, the head of the state think tank Korea Development Institute, will also become deputy prime minister for economy, a sign that Park will make spurring growth in Asia's fourth-biggest economy a top priority. Bloomberg