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Foreign currency reserves up

Hong Kong's foreign currency reserve assets rose to US$423.2 billion in November from October's US$417.2 billion, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 42% of Hong Kong dollar M3.   There were no unsettled foreign exchange contracts at the end of November. http://dlvr.it/Sf21yd

Kai Tak site sold

The tender for a Kai Tak site has been awarded on a 50-year land grant at a premium of $10.28 billion, the Lands Department announced today.   New Kowloon Inland Lot No. 6604 at Kai Tak Area 4E Site 2 was awarded to City Champion Investments, a subsidiary of CK Asset Holdings.   It has a site area of about 10,948 sq m and is designated for non-industrial purposes, excluding office, godown, hotel and petrol filling station.   The site’s minimum and maximum gross floor areas are 36,129 sq m and 60,214 sq m.
http://dlvr.it/RstsBP

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