Lai Sun buys Tseung Kwan O waterfront site for HK$2.8b

Lai Sun Development made its first land acquisition in 18 years yesterday with a price that beat expectations in a housing market softened by recent government measures.

The Lands Department announced the developer had outbid five others for the residential site on the Tseung Kwan O waterfront, paying about HK$2.83 billion, or HK$4,929 per square foot, slightly more than market expectations of up to HK$2.75 billion.

via Business feed http://www.scmp.com/business/companies/article/1093404/lai-sun-buys-tseung-kwan-o-waterfront-site-hk28b