(To read more on the multifamily market, click here.)
SHANGHAI-With a $283-million offer, Hong Kong blue chips CheungKong (Holdings) Ltd. and affiliate Hutchison Whampoa Ltd. have wonthe bid for a 43.6-acre piece of land in the Putuo district herethat is slated for commercial and residential uses.
The companies have formed a joint venture to follow through withthe development. The estimated total development cost is US $463million.
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