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Li Ka-Shing’s CK Asset Tops Rivals To Grab More Land At Bargain Price Of $1.1 Billion

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The property arm of Li Ka-shing’s empire has been awarded a site zoned for residential development at the city's former Kai Tak airport for a relative bargain price.

“It is surely lower than market expectations before the announcement of the result and the closing of tender,” says Cyrus Fong, senior director for valuation and advisory at Knight Frank.

With a gross floor area of 1.42 million square feet, the whole site consists of 3 individual lots, and there are limitations on the buildable area for each of the lots. The conditions of the tender also require CK Asset to build an elderly home and child care units as part of the project.

 

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Li Ka-Shing’s CK Asset Tops Rivals To Grab More Land At Bargain Price Of $1.1 BillionThe property arm of Li Ka-shing’s empire has been awarded a site zoned for residential development at the city's former Kai Tak airport for a relative bargain price.
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