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Research

Report

Government Land Sale: Wong Chuk Hang


The tender for a business development site in Wong Chuk Hang has been awarded to a 60:40 joint venture between Sino Land and Empire Group Holdings for HKD 2.53 billion, around 11% higher than the upper end of market expectations.  

​According to the Conditions of Sale, at least 29,866 sq ft of the net operational floor area of the building must be allocated for use as a government arts and cultural centre and related offices. Netting out the government accommodation, the estimated A.V. for the site was HKD 10,313 per sq ft – the second highest amount paid for a commercial development site in the city.

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