cheung kong bidding for site at Hung Hom closely watched

THE SAR government starts a land auction today in a bid to raise between HK$1.3 billion and HK$2.02 billion, analysts said. The main focus of attention will be a 219,203-square-foot reclaimed waterfront commercial site in Hung Hom which is expected to fetch between HK$1.1 billion and HK$1.74 billion. Analysts said all eyes will be on Li Ka-shing's Cheung Kong (Holdings) (0001) and Hutchison Whampoa (0013) which are expected to make bids.

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