Kai Tak 4B2 land sub-standard loss 9.8%

Kai Tak 4B2 land sub-standard loss 9.8%

China Overseas (00688) won the residential plot of No. 2, Block 4B, East Kai Tak, Kowloon, in December last year. The Lands Department announced the bids of the remaining five selected consortiums, ranging from $4.69 billion to $7.249 billion. The total floor area of the building is 594,087 square meters. The floor price is 7894 to 12202 yuan, which is still about 9.8% to 41.6% lower than the winning price.