UBS: Kerry Properties (00683.HK) wins Fat Kwong Street residential site; break-even requires selling price of about HK$39,000 per square foot

Zhitong Finance APP has learned that UBS has issued a research report, giving Kerry Properties (00683.HK) a target price of HK$27 and a "Buy" rating. The Lands Department announced that Kerry Properties won the Fat Kwong Street residential site in Ho Man Tin for over HK$4.308 billion, a price far above the upper limit of market expectations, with a floor price of about HK$20,738 per square foot. The winning bid was 38% higher than the upper limit of market expectations.