Updated Oct 28, 2024
Hysan Development Co. & Chinachem Group Acquire Development Site In Causeway Bay, Hong Kong Island For $2.55B
Causeway Bay, Hong Kong Island, Hong Kong
$2,550,000,000
$2,550/SF
Building Size
1,000,000 SF
Asset Type
Development Site
Closing
May 17, 2021
About this deal
AI
In May 2021, a development site in Causeway Bay, Hong Kong Island was sold in a transaction involving Hysan Development Co., Chinachem Group, and the Government of Hong Kong. The property, which is situated in the bustling market of Causeway Bay, is a development site.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,550,000,000 (approx.)
The buyers of the development site were Hysan Development Co. and Chinachem Group, while the seller was the Government of Hong Kong. The sale price for this transaction was approximately $2,550,000,000. The development site has an approximate buildable square footage of 1,000,000, resulting in a price per buildable square foot of $2,550. This significant transaction showcases the active real estate market in the region.
Players
Hong Kong Island Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93