Developers vie to land plum HK$2 billion residential site in Ho Man Tin
The sole residential site included in the Hong Kong government’s latest land sale programme has attracted interest from a host of major developers, with 10 tenders being submitted before a noon deadline on Friday. Chinachem Group, Wheelock Properties, Kerry Properties and Sun Hung Kai Properties all confirmed to the South China Morning Post that they had submitted individual bids for the site on…
Ten developers have submitted bids for a lone residential site valued at HK$2 billion in Ho Man Tin, Kowloon, as part of Hong Kong's latest land sale programme. The proposed site on Fat Kwong Street, with a maximum gross floor area of 19,300 square metres, is expected to house around 250 flats. In addition to constructing residential units, the successful bidder must build an elderly care centre and a community centre, as well as level the access road to Fat Kwong Street.
The site's location in a luxury residential neighbourhood, near the Ho Man Tin MTR station, and its potential for mid-to-high-end residential projects with open and sea views make it an attractive prospect for developers. The competition for this site highlights the limited opportunities developers have to secure well-located urban land, despite cautious expectations for the property market.
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