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Two Lots Sold for Over 1.1 Billion HK Dollars
Two government lots were sold for a total of 1.16 billion HK dollars (148 million U.S. dollars) at a public auction held by the Lands Department Tuesday afternoon.
The first lot with an area of about 11,380 square meters, located at Ma On Shan, was sold to Kingdom Investment Ltd. at 865 million HK dollars with the opening bid at 650 million.
The second one of about 6,970 square meters at Tsuen Wan was sold to Brisbane Trading Co. Ltd. at 292 million Hong Kong dollars.
The two lots are designated for private residential purposes. The auction was conducted at the Concert Hall of the Hong Kong Cultural Center.
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