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Going once, going twice, sold
December 29, 2009, Tuesday
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AN auctioneer announces the sale of a second land plot for HK$5.25 billion (US$677 million) in an auction yesterday in Hong Kong. Sino Land Co bought two prime residential sites for a lower-than-expected HK$10.40 billion in Hong Kong's last land auction this year. Sino Land bought the first site for HK$5.15 billion.
It bought the second site as part of an 85 percent owned consortium with K Wah International Holdings Ltd, which holds the remaining 15 percent of the consortium. The first site sold for 42.9 percent higher than the opening bid, while the second site sold for 45.7 percent higher than the same opening bid. - Xinhua
It bought the second site as part of an 85 percent owned consortium with K Wah International Holdings Ltd, which holds the remaining 15 percent of the consortium. The first site sold for 42.9 percent higher than the opening bid, while the second site sold for 45.7 percent higher than the same opening bid. - Xinhua
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