CK Asset buys residential project in Hong Kong for $586m

CK Asset Holdings has topped four competing bids to acquire a residential development site in Hong Kong’s New Territories for HK$4.6 billion ($586 million), according to an announcement published on Oct. 5.

Tuen Mun Town Lot No. 561 has a site area of about 33,713 square meters (362,884 square feet) and is designated for private residential purposes. The minimum gross floor area is 72,821 square meters (783,839 square feet) and the maximum gross floor area that may be attained is 121,366.8 square meters (1.3 million square feet).