Kwg Property Holding: Mainland developers Logan, KWG win residential site at Ap Lei Chau for higher-than-expected HK$16.86 bn

Mainland developers Logan Property Holdings and KWG Property Holding have joined forces to win a residential site in Ap Lei Chau, an island just off Hong Kong, after paying a higher-than-expected HK$16.86 billion (US$2.17 billion). The Lands Department said on February 24 that the 126,500 square foot site was awarded to Unicorn Bay (Hong Kong) Investments, a joint venture owned by Shenzhen-based Logan and Guangzhou-based KWG. The price tag is almost 50 per cent higher than the top-end forecast...