Hong Kong govt sells land in tender for HK$6.27 bln

HONG KONG,   (Reuters) - Hong Kong government said on Thursday that it has sold a plot of land in a tender for HK$6.27 billion ($804.3 million) to a consortium, below market expectations amid cautious sentiment.

The land, which can be used for commercial and residential purposes, is located at North Point on Hong Kong Island.

Surveyors valued the site at between HK$6.47 billion to HK$9.07 billion. ($1 = 7.796 Hong Kong Dollars)