[quote]Built for Swire Properties Ltd. (1972), the structure cost HK$27,000 ($3,477) per square foot to construct, including land premium. A standard high-rise apartment in the city can cost as little as $HK4,000 per square foot to build, according to Swire Properties Chief Executive Officer Martin Cubbon.[/quote]
[twocol_one]In Other News
[twocol_one_last]Set apart on a steep windswept hill on 53 Stubbs Road, surrounded by lush greenery, the Opus has just 12 apartments, one per floor except for the bottom two stories, which house two duplexes complete with gardens and private pools.[/twocol_one_last]
Each unit averages about 6,000 square feet. Cubbon declined to provide figures until marketing begins by the end of this month. He expects most flats to be rented, though “if someone writes us a big enough check,” he says, Swire will sell too.
[box type=”info”]Read: Gehry Luxury Tower Boasts Hong Kong’s Priciest View – Source: Business Week[/box]