HONG KONG-Officials in Hong Kong have auctioned off a piece of land for a record HK$10.4 billion ($1.3 billion). This deal is the third most costly deal in Hong Kong. The bid was won by a privately owned firm, Nan Fung Group.
The site is located at Mount Nicholson Road in the Peak district, and an opening bid was offered for HK$8 billion. In June, the government had auctioned off a plot of land for HK$10.9 billion in Kowloon. For the full story, go to Reuters.
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