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Sign in Sign up for a FREE subscriptionGoldin Group pays $1.14b for residential site
Hong Kong’s Lands Department announced that a residential site has been awarded to Hong Kong financial conglomerate Goldin Group for HK$8.9 billion ($1.14 billion).
The 104,496-square-foot residential plot was once the runway of the city’s Kai Tak Airport.
Recently, the neighboring plot, Kai Tak Area 4B Site 3, was acquired by a consortium comprising Wheelock Properties, New World Development, Henderson Land Development and Empire Development Hong Kong for HK$8.33 billion ($1.06 billion).
Goldin Financial plans to invest a total of HK$14 billion ($1.79 billion) in the project.
