HK: Sun Hung Kai wins Cheung Sha Wan hotel site auction with $649m bid

HK: Sun Hung Kai wins Cheung Sha Wan hotel site auction with $649m bid

Photo courtesy of Sun Hung Kai Properties Limited

Hong Kong’s largest developer Sun Hung Kai Properties on Monday paid HK$5.06 billion ($649 million), well above market estimates, for a site designated for hotel use.

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