$6.5 billion

Henderson Land Development Co to pay for Hong Kong land site

Henderson Land Development Co won a prime land plot along Hong Kong’s famed Victoria Harbour with a recordbreaking bid of HK$50.8 billion ($6.5 billion) as it expands its portfolio in the city’s most important business district.

The estimated price for the site in Central ranged from HK$37 billion to HK$55 billion, according to property analysts. The sky-high price makes it the most expensive plot ever sold in a government tender.

Given its prime harbour-front location, the government took into account designs submitted by bidders before awarding the site, the first time it looked beyond the price being offered. — Bloomberg