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Hong Kong auction marks progress for cheaper housing

Posted on 11 August 2011

Tuesday’s public auction of a residential development site, during which the government accepted a bid well below analysts’ expectations, marked a quiet step forward in efforts to promote cheaper housing in Hong Kong.
The buyers, a consortium of real estate developers including Sino Land Co. Ltd., Kerry Properties Ltd. and Manhattan Group, placed the one and only bid of 5.5 billion Hong Kong dollars (US$704 million) for the luxury property site in Shatin……………………………………….Full Article: Source


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