Land Sales Particulars

A residential site in Tuen Mun has been awarded to K&K Property. The winning bid was 8% higher than the upper-end of market expectations.

A commercial/hotel development site in Kai Tak has been awarded to Far East Consortium for just under HKD 2.45 billion.

The consortium of K Wah International, Wheelock Properties and China Overseas Land and Investment won a tender for a residential site in Kai Tak.

China Resources Land has teamed up with Poly Property Group to acquire a residential site in the Kai Tak Development Area in Kowloon for HKD 12.916 billion.

The waterfront residential site in the Kai Tak Development Area has been awarded to a consortium comprising of China Overseas Land & Investment, Chime Corporation, Empire Development, Henderson Land, New World Development and Wheelock Properties, for HKD 12.59 billion.

Wheelock Properties has teamed up with Henderson Land, China Overseas Land & Investment and New World Development to acquire a residential site in Kai Tak for HKD 9.893 billion.

A residential site at Tai Kei Leng in Yuen Long has been awarded to Lai Sun Development for HKD 209.8 million. The A.V. of HKD 4,977 per sq ft was closer to the upper-end of market expectations.

A residential site at South Lantau Road in Cheung Sha, Lantau Island, has been awarded to Dynamic Triumph Limited for HKD 1.13 billion. The A.V. of HKD 12,740 per sq ft was close to the upper-end of market expectations.

Sun Hung Kai Properties won the tender of a residential site at the junction of Yau King Lane and Pok Yin Road in Tai Po’s Pak Shek Kok for about HKD 6.31 billion or HKD 6,646 per sq ft.

Sun Hung Kai Properties acquired the residential site in Kai Tak Area (NKIL 6551) for HKD 11.26 billion. The A.V. of HKD 17,360 per sq ft fell within market expectations.

China Overseas won the tender for a residential site in Kai Tak with HKD 8 billion. The developer plans to invest about HKD 12 billion to build a high-end residential project. JLL estimated the pricing of project is likely to be in excess of HKD 26,000 per sq ft.

Land supply in Hong Kong remains a major political issue. High residential dwelling prices and rental rates have put pressure on the government to release more land for housing. But what about land for commercial use and Grade A office space in particular?