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New World Development has set a new record high commercial land price in Hong Kong. It outbid eight other contenders to win the land sale tender for a business development site in Cheung Sha Wan for HKD 7.79 billion.The 83,183 sq ft is a five minute walk from Lai Chi Kok MTR station. According to local media, New World intends to develop two Grade A office towers with a retail podium on the site. Development is expected to be completed on or before 2024.
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16 February 2017
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