18
The Bank of China
purchased several shopping
units at Tsim Sha Tsui, at a price of HK$40
million, for establishing a new branch. The Bank
also planned to set up a branch at the University
of Science and Technology. These would be the Bank's 23rd and 24th branches in Hong Kong.
Three PRC-interest companies were reported to have purchased three blocks of the Laguna City at
an average price of HK$2,850 per square foot. Total investment amounted to HK$1.4 billion.
A PRC-interest company, with capital from the
Sichuan Province, the China Resources Holdings Co. Ltd. and a local company, sold a property at
Ma Tei to a local company for HK$160
The return from this deal was close to
Yau
million.
10%.
The
PRC-interest companies in Hong Kong were
reported to be very forthcoming in participating
in the construction of the new airport in Hong
Kong.