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Government Land Sale: Kai Tak (NKIL 6567)

Fancy Excellent Limited—a joint venture between two mainland China-based developers—has been awarded the land sale tender for a residential development site in Kai Tak. The tender, for slightly over HKD 7.2 billion, maintains the perfect record for PRC developers acquiring residential sites in 2017 government land sales and underlines their enthusiasm for Kai Tak.

​Market sources suggest around 880 mass and medium-sized flats will be built on the site, on or before 2022.

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