Developer CK Asset wins Hong Kong’s first plot of land earmarked for private and subsidised starter homes for lowly HK$4.9 billion as Covid-19 batters property market

CK Asset Holdings has won Hong Kong’s first ever plot of land earmarked for a mixture of private and government-subsidised homes developed by private builders, for a price at the lower end of market expectations.The second-biggest developer in Hong Kong by value will pay HK$4.95 billion (US$638.8 million) for the site on Kwun Tong’s Anderson Road, the Lands Department said on Tuesday. The price per square foot translates to HK$4,546.Market valuations for the plot ranged from HK$4.6 billion (US…