Land Auction in HK Yields HK$344 M For Govt RevenueTwo government lots were sold for a total of HK$344 million (US$44.1 million) at a public auction held by the Lands Department of the Hong Kong Special Administrative Region (SAR) Monday afternoon.The first lot, with an area of 1,420.6 square meters, was sold at HK$251 million (US$32.2 million), compared to the opening bid of 230 million HK dollars (US$29.5 million). The second one was sold at HK$93 million (US$11.9 million) for an area of 22,973 square meters. The opening bid was HK$80 million (US$10.3 million). Market analysts said the results of the auction were almost the same as expected and the land sale would help maintain a stable property market. |
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