A general view of the Kai Tak Cruise Terminal (L) and Kai Tak Runway Park Phase 1 (R) in Kai Tak Development (KTD), at the city’s former airport site as of 3 December 2018. The city’s government has been selling land parcels on the site to property developers for building homes, offices and retail space. Photo: SCMP/Martin Chan

Sun Hung Kai pays US$1.43 billion for Kai Tak residential plot in subdued tender that underscores downbeat market

  • Sun Hung Kai’s winning bid works out to HK$17,360 per square foot, within the price range expected by valuers
  • The developer will spend HK$20 billion on the project, and agents expect the completed homes to sell for around HK$30,000 per square foot
Topic |   Hong Kong property

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A general view of the Kai Tak Cruise Terminal (L) and Kai Tak Runway Park Phase 1 (R) in Kai Tak Development (KTD), at the city’s former airport site as of 3 December 2018. The city’s government has been selling land parcels on the site to property developers for building homes, offices and retail space. Photo: SCMP/Martin Chan
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