Pursuits
Hong Kong Sells Car Park Site to Developer for Record $3 Billion
- Sale is city’s first of a CBD commercial plot since 1996
- Henderson Land shares fall on purchase, plan for office tower
The Murray Road multi-story car park in Hong Kong.
Photographer: Justin Chin/BloombergThis article is for subscribers only.
Henderson Land Development Co. outbid eight other developers and will pay a record HK$23.3 billion ($3 billion) for the first commercial land to be sold by Hong Kong’s government in the Central district since 1996.
The Hong Kong company’s shares fell the most in the Hang Seng Properties Index on Wednesday, sliding as much as 2.9 percent.