Sun Hung Kai Properties (HKG:0016) won the bid for a residential area in Tung Chung, Hong Kong for HK$602 million, The Standard reported Thursday.
The amount is equivalent to HK$1,500 per buildable square foot and is in line with the expectations, the report said.
SHKP Deputy Managing Director Victor Lui Ting said total investment in the area is seen to be HK$3.5 billion, according to The Standard.
The area is close to the MTR (HKG:0066) station.
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