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Hong Kong commercial landmarks sold at record prices

Xinhua, November 13, 2015 Adjust font size:

Two large companies from the Chinese mainland has bought two Hong Kong landmarks, paying record prices for both.

Evergrande Real Estate Group agreed to pay 12.5 billion HK dollars (1.61 billion U.S. dollars) for Mass Mutual Tower in Wan Chai owned by local tycoon Joseph Lau's Chinese Estate Holdings Ltd., according to a statement from the Hong Kong Stock Exchange.

China Life Insurance (Overseas) Co. bought Wheelock and Co.'s One Harbour Gate West office tower and retail premises in Hung Hom for 5.85 billion HK dollars.

The Mass Mutual Tower deal broke the record for price of 36,187 HK dollars per square foot, or 361,870 HK dollars per square meter.

The buyers said on Thursday that the deals show their confidence in the Hong Kong market. Endit