The Group wins prime waterfront Repulse Bay site for HK$1.188 billion, sets record for land sold through government tender


Hong Kong's prime waterfront Repulse Bay site set a price record for land sold through government tender, reflecting confidence in the luxury property segment.


The Group won the parcel at South Bay Road, Repulse Bay, for HK$1.188 billion (US$153 million). The site is located just three minutes from the popular Repulse Bay Beach located in the southern part of Hong Kong Island.


The site, Rural Building Lot 1203, measuring just 21,173 square feet, attracted bids from nine major developers, including Sun Hung Kai Properties, CK Asset, Hang Lung Properties and Sino Land.