Read the full judgment text of on BabelCite. was delivered on 28 February 1983.
1. Hong Kong's real estate market enjoyed boon conditions in the summer of 1981. The most spectaculer transaction of all occurred when a consortium of well-known Hong Kong real estate companies paid a world record price of HK$2,800 million for the site on which stands the old wing of the Miramar Hotel, bounded on one side by Nathan Road - aptly known as "The Golden Mile" - and on the other by Kimberley Road in the tourist district of Tsim Sha Tsui, Kowloon.