CITIC Pacific Ltd. placed the winning HK$3.20 billion bid for a roughly 3,990-square-meter private residential development site in Hong Kong.
To secure the 50-year land grant for Inland Lot No. 9076 at No. 135 Tai Hang Rd., the company's Bright Vision International Ltd. subsidiary outbid 24 other tenderers including Sun Hung Kai Properties Ltd., CK Asset Holdings Ltd., China Overseas Land & Investment Ltd., Henderson Land Development Co. Ltd. and a consortium comprising Sino Land Co. Ltd., Lai Sun Development Co. Ltd. and K. Wah International Holdings Ltd.
Inland Lot No. 9076, which invited bids in November, has a minimum gross floor area of 7,182 square meters and a maximum gross floor area of 11,970 square meters, according to the city's Lands Department.