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Government Land Sale: Sham Shui Po

PRC developer Vanke Property has won its second residential development site in Hong Kong in a year. It now has four residential developments underway in the city.

Despite the tender attracting 18 bidders, the A.V. was at the lower end of market expectations. For market watchers, this is seen as another sign of faltering sentiment following the withdrawal of a residential land sale tender in Yuen Long when bidding failed to meet the government's reserve price.

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