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2009-6-23 03:51:00 p.m. HKT, XFNA
DJ MARKET TALK: Sino, Hopewell Unlikely Boosted Much By Bid Win
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| 1530 [Dow Jones] Sino Land (0083.HK), Hopewell Holdings (0054.HK) likely slightly helped by news they received contract for Wanchai redevelopment project; joint bid one of 6 submitted to Urban Renewal Authority, project covers site area of about 88,500 sqf. Given project likely to take several years to develop, practically difficult to predict property market outlook several years down road, any boost likely small for now. Site drew strong response from HK developers as land sales in centrally located parts of HK Island are rare. Cheung Kong (0001.HK), Henderson Land (0012.HK), SHK Properties (0016.HK), K Wah (0173.HK), Chinese Estates (0127.HK) earlier said they had bid for project. Sino Land down 3.5% at HK$11.98; Hopewell down 1.5% at HK$23.20.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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