China group to pay record ₹14,600 crore for residential land
Two Chinese companies have outbid Hong Kong’s largest developers with a $2.2 billion (over ₹14,600 crore) offer for a rare residential waterfront site, the highest price ever posted in a government land sale. The purchase works out to about $2,900 (₹1.9 lakh) per square foot. Notably, Logan Property and KWG Property beat 13 other bidders.