APRIL 2018 FORBES ASIA | 15
velopment margin over the past four years.
Wheelock & Co., controlled by billionaire Peter Woo,
bought another parcel from HNA in early March for $
million with a buildable gross loor area of 425,000 square
feet, which translates to $1,904 per square foot. he company
says it intends to expand an existing residential project called
Oasis Kai Tak, which has been priced on average at $2,887 per
square foot ater discount, according to reports. (he com-
pany points to a higher recent sale.) he cost of that site was
LARRY CHAN/REUTERS a modest $777 a square foot in 2014. Wheelock declined to
Planespotting: Air traic was a part of daily life in Hong Kong for pedestrians and spectators prior to 1998.