The most expensive plot of land has been sold in Hong Kong downtown on a government auction. The lot is estimated at $3 billion.
According to South China Morning Post, nine developers have been competing for the right to become owners of the plot of land, including two companies from mainland China.
Following the results of the auction, the site was acquired by Henderson Land, which agreed to pay a record $6460 per square foot (0,09 square meters). The final cost of the land amounted to $3 billion, while experts estimated the object at a maximum of $2.8 billion.
Now, a five-storey car parking is located in this area, but by 2022, the new owner intends to erect on its place a premium office building.