Mapletree Investments buys commercial site in Kowloon, Hong Kong for $619 million
PROPERTY firm Mapletree Investments has won the right to buy a commercial site in Hong Kong's bustling Kowloon district for HK$3.77 billion (S$619 million).
The 55,000 sq ft plot is the first commercial land the firm has bought in Hong Kong that will be develped from scratch.
It is in a key office cluster in Kowloon East that has been earmarked as the new central business district in Hong Kong, Mapletree announced yesterday.
Mapletree said it will develop a Grade-A office building with a total gross floor area of around 660,000 square feet with completion in 2017.