Henderson to spend HK$6.5b on retail complex

[HONG KONG] Henderson Land Development Co, controlled by billionaire Lee Shau-kee, will spend HK$6.5 billion (S$1 billion) on a shopping centre in Hong Kong's prime retail area after beating 17 rivals to win a land tender.

The complex in Tsim Sha Tsui, to be completed by 2019, will be used for retail, services and dining, and will include a public, 345-space carpark, according to spokeswoman Bonnie Ngan, citing vice chairman Martin Lee. Henderson won the site for HK$4.7 billion as the highest bidder, the government said in a statement on Wednesday. Henderson beat other developers to win the site in the district brimming with global luxury brands and hotels such as The Peninsula. - Bloomberg