Transactions - FEBRUARY 27, 2017

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Hong Kong land parcel sells for $2.2b

by Andrea Waitrovich

A residential land site on Ap Lei Chau, an island of Hong Kong, has been sold for HK$16.8 billion ($2.16 billion) to consortium Unicorn Bay, which was formed by Logan Property and KWG Property. The property was sold by the Lands Department of the Hong Kong government.

Ap Lei Chau Inland Lot No. 136 totals more than 126,590 square feet and is designated for non-industrial (excluding godown, hotel and petrol-filling station) purposes.

The sale is the government’s largest lump-sum sale, exceeding the HK$11.8 billion ($1.52 billion) fetched in 1997 for a Siu Sai Wan site.

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