Intense bidding prompted the blue-chip developer to pay $432 million for a site covering 130,000 square feet in the suburbs of Hong Kong. The winning bid was well above most analysts’ expectations.
The two purchases follow sharply on the heels of a sales campaign that brought in $538 million for the company by selling 900 apartments at another one of its developments over the weekend. The apartments range in size from 400 to 1,400 square feet.
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