Hong Kong car park sells for record $3 bln

ReutersNewsPublished: May 18, 20174 views
Published: May 18, 2017

A prized commercial property site in Hong Kong, currently being used as a public car park, has been sold to Henderson Land Development for a record HK$23.3 billion ($3 billion). As Sonia Legg reports, it outbid eight other developers including local giants Cheung Kong Property Holdings and Sun Hung Kai Properties to take ownership of the site in the Central area, where office vacancy rates are less than 2 percent.

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