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A new record high has been set for residential development sites on Lantau Island. A site in Cheung Sha has been won by Leap Up Investments for HKD 210 million. The tender was 36% above the higher end of market expectations.According to market sources, Leap Up is likely to be backed by mainland Chinese funds. Leap Up intends to build individual luxury houses on the site, likely to be priced in excess of HKD 34,000 per square foot, SA, close to double of that achieved at nearby Swire and Sino Land developments.
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17 August 2017
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