X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

SHANGHAI-With a $283-million offer, Hong Kong blue chips Cheung Kong (Holdings) Ltd. and affiliate Hutchison Whampoa Ltd. have won the bid for a 43.6-acre piece of land in the Putuo district here that is slated for commercial and residential uses.

The companies have formed a joint venture to follow through with the development. The estimated total development cost is US $463 million.

Cheung Kong is Hong Kong’s second largest developer by market value and is the biggest landlord in Tseung Kwan O. In addition to the Putuo District project, the company is in the running for the HK$8 billion residential-retail-hotel project above Tseung Kwan O MTR station that will be awarded early next month.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.