Hong Kong Duplex Apartment Sells for Record $113 Million

A duplex apartment sold for a record price in Hong Kong, in the latest sign the luxury property sector in the city is bouncing back.

The unit at The Legacy, a joint project by Henderson Land Development Co. and New World Development Co., sold for HK$880 million ($113 million), according to people familiar with the matter. The transaction is going though company transfer, a common way for buyers to shield their identity, the people said.