(Yicai Global) Nov. 16 -- A coastal lot for residential development near Changsha Bay's Hing Wah Street West sold at auction for USD2.21 billion (HKD17.29 billion) with a floor value of HKD17,500 per square foot, setting Hong Kong's residential land transaction record, which was set less than 10 months ago, 21jingji reported.

The tender for this plot received 11 bids from leading developers from Hong Kong and mainland China, including Sun Hung Kai Properties Ltd. [HK:0016], CK Asset Holdings Ltd. [HK:1113], Hang Lung Properties Ltd. [HK:0101], Logan Property Holdings Co. [HK:3380] and China Overseas Land and Investment Ltd. [HK:0688].

A consortium established by Sino Land Co. [HK:0083], Wheelock Properties (Hong Kong) Ltd., Shanghai Shimao Co. [SHA:600823], K. Wah International Holdings Ltd. [HK:0173] and SEA Holdings Ltd. [HK:0251] won, breaking a record of HKD16.86 billion set by Logan Property Holdings Co. [HK:3380] and KWG Property Holding Ltd. [HK:1813] in February for land by Aberdeen Island's Lee Nam Road.

Buildings on this land are expected to cover a floor area of about 987,800 square feet near the local new ferry pier and a five- to ten-minute walk from the West Rail Line's Nam Cheong Station.