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A new record high has been set for residential sites sold in the government land sales market. A consortium comprising Sino Land, Shimao Property, Wheelock Properties, K Wah International and SEA Holdings was awarded the land sale tender for a waterfront residential development site in Cheung Sha Wan for HKD 17.3 billion. According to market sources, more than 1,000 high-end residential apartments and houses will be built on the site on or before 2024, with the units likely to be priced around HKD 32,000 per square foot.
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16 November 2017
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