MAJOR developers turned out in force for yesterday's government land auction, snapping up four plots for a total of $3.37 billion.
Sino Land again emerged as the most aggressive developer at the auction paying $1.06 billion for a commercial-residential site and $1.32 billion for a hotel/residential site in Ma On Shan.
The company also discovered its consortium had won the tender to develop a giant real estate project along the new airport railway at Tai Kok Tsui, capping an eventful day for chairman Robert Ng Chee-siong.
A consortium formed by China Overseas Land and Investment, Kiu Kwong Investment and Bank of East Asia bought a residential site in Ho Man Tin for $920 million.
A fourth, smaller residential site in Yuen Long was bought by Paliburg Development for $70 million.
Analysts said the selling prices were in line with market expectation.