- Who
- 2 Murray Road
- What
- 3,003,780,000US dollar(s)
- Where
- Hong Kong SAR, China(Central Business District)
- When
The most expensive plot of land ever sold is located at 2 Murray Road in Hong Kong's Central Business District. On 16 May 2017, the government of Hong Kong sold the plot, which measures 31,000 sq ft (2,880 m^2) for HK$23.28 billion (US$3,003,780,000) to local developer Henderson Land Development. That works out to $96,896 per square foot (or $1,042,979 per square metre).
At the time of the sale, the plot was occupied by a 1970s multi-storey car park. Henderson Land Development have contracted internationally renowned studio Zaha Hadid Architects to design a 36-storey skyscraper to take its place.
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Now, let's dissect the information provided in the article:
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Location (Who2 Murray Road):
- The most expensive plot of land ever sold is situated at 2 Murray Road in Hong Kong's Central Business District (CBD). This geographical context is crucial, as the location plays a pivotal role in determining the value of real estate.
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Transaction Details (What3,003,780,000 US dollar(s)):
- On 16 May 2017, the government of Hong Kong orchestrated the sale of the plot, covering an expansive 31,000 square feet (2,880 square meters), to local developer Henderson Land Development. The staggering transaction amount reached HK$23.28 billion (equivalent to US$3,003,780,000), solidifying its status as the most expensive plot ever sold. This financial aspect underscores the economic significance of the deal.
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Geographical Context (Where Hong Kong SAR, China - Central Business District):
- The Central Business District of Hong Kong serves as the backdrop for this unprecedented transaction. The choice of location within the thriving economic hub adds substantial value to the property, given its strategic importance.
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Timeline (When 16 May 2017):
- The sale occurred on 16 May 2017, marking a historic moment in the real estate landscape of Hong Kong. This temporal element is crucial for understanding the context of the market at that specific point in time.
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Development Plans (At the time of the sale...):
- Notably, at the time of the sale, the plot was occupied by a 1970s multi-storey car park, emphasizing the transformative nature of the deal. Henderson Land Development, the buyer, has ambitious plans for the site. They have engaged the services of the internationally renowned Zaha Hadid Architects to design a 36-storey skyscraper, signaling a shift towards modernization and architectural innovation.
In summary, this article encapsulates a groundbreaking real estate transaction, providing insights into the financial magnitude, architectural aspirations, and urban development dynamics associated with the sale of the most expensive plot of land in Hong Kong's Central Business District.
