Hong Kong car park may sell for $2.2 billion

Hong Kong’s government has announced the first sale of commercial land in the city’s central business district in more than 20 years. The site, currently used as a multi-story car park in Murray Road, Central, is about 31,000 square feet.

The plot is valued at HK$15.8 billion to HK$17 billion ($2.2 billion). It is the first commercial development site available in Central since 1996, and rents will set a new indicator for offices in Central.

The sale of the plot, situated near the Bank of China building and billionaire Li Ka-shing’s Cheung Kong Center, is slated for the first quarter of next year.