Two Lots Sold in Hong Kong Land AuctionTwo government lots were sold for a total of 633.5 million HK dollars (US$81.2 million) at a public auction held by the Lands Department Monday afternoon.The last public land auction in the financial year 2000-2001 brings the total revenue of the government of the Hong Kong Special Administrative Region in this item to more than 838 million HK dollars (US$107 million). The result of the auction was better than market expectation, reflecting the investors' confidence in the government's land policy, according to property analysts here. All land within Hong Kong is state property and most government land available for private sector developments is sold by public auction or tender. |
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