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Sign in Sign up for a FREE subscriptionHysan Development Co. JV pays $2.6b for site in Hong Kong’s Causeway Bay
Hysan Development Co., in partnership with Chinachem Group, has successfully tendered for the commercial site at Caroline Hill Road, Causeway Bay, Hong Kong, for a consideration of HK$19.778 billion ($2.6 billion). The two companies plan to develop a premium commercial building with community facilities on the site.
Hysan Development Co. considers the project to be a strategic long-term investment, which will contribute to the optimization of the group’s asset portfolio. It vastly expands the scale of the Lee Gardens portfolio and reinforces Hysan’s leading position in Hong Kong and the significance of Causeway Bay as a key destination. The potential value of the project will be enhanced by a proposed connectivity scheme that will offer pedestrians a weatherproof walking journey between Causeway Bay MTR station, Lee Gardens and the project site.
Hysan Development Co. remains highly optimistic about Hong Kong’s future. It firmly believes that the city will continu