TNAG-2292-FCO40-3304-Official-visits-from-Hong-Kong-to-China-1991 — Page 72

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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.