| Hong Kong’s government sold a housing site in the Island South district for more than analysts estimated, easing concerns that the city’s home prices may fall on increased housing supply and the threat of a global slowdown.
Cheerwide Investment Ltd. paid HK$6 billion ($773 million) for the 248,000 square-foot site on Deep Water Bay Drive, the government said. The buyer is a unit of closely held Nan Fung Development Ltd., according to a report on the Hong Kong Economic Journal’s website that cites unidentified people...............................................Full Article: Source
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