42 C
Kuwait City
August 5, 2020
Home » World’s costliest parking space sold for almost $1mn IANS

World’s costliest parking space sold for almost $1mn IANS

Source link

Hong Kong: At the 73-story Hong Kong skyscraper “Center”, a pricey parking space reserved for executives and tenants was recently sold for an eye-popping $969,000 ($7.6 million in HK dollars), the media has reported.

Johnny Cheung Shun-yee, one of the 10 investors in the consortium that paid $5.15 billion last year for “The Center”, told that he had sold the last of his four car parks in the tower to someone who owns an office in the same building because “the buyer now needs a car park lot,” declining to identify the buyer, according to South China Morning Post.

At 134.5 square feet, the cost of the parking space breaks down to $7,209 ($56,505 HK) per square foot, which is three times the median price of a Hong Kong house.

The sale price, in a city where nearly one in five residents lived below the government-defined poverty line in 2017, underscores the wealth gap that has pushed Hong Kong into the worst political crisis in decades, the SCMP report added.

Click here to read more news from @thepeninsulaqatar

Related posts

8 killed in Chile protests against metro price hikes By Muhammed Emin Canik and Beyza Binnur Donmez | Anadolu

Lolwah Al Khater hails Qatari-Ethiopian media ties QNA

Department of Family Affairs organises food safety workshop QNA

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please spend a minute

Gulflance Poll

Which is worst social media?
Vote Now

You're currently offline