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Wharf (Holdings) Limited has won the first public residential land sale tender in 2018, acquiring a site in Kowloon Tong for just under HKD 12.5 billion. The A.V. of HKD 28,531 per sq. ft. set a new record for Kowloon, and is the third highest amount paid for a residential development site sold by public land tender in Hong Kong.
Market sources suggest that Wharf subsidiary, Wheelock Properties, will build up to 200 luxury units on the site – each over 2,000 sq. ft.
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18 January 2018
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