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Minmetals Land outbids Hong Kong rivals for Kowloon site

Hong Kong

MINMETALS Land Ltd, a Chinese developer, outbid Hong Kong giants Sun Hung Kai Properties Ltd and Sino Land Co with a HK$4 billion (S$692.5 million) offer for land in the territory's Kowloon district.

The price works out to about HK$7,058 per square foot of saleable area,