Land Sales Particulars

Poly Property ("Poly") has been awarded a residential development site in Yau Tong for HKD 3.3 billion, close to the lower end of market expectations. Poly's successful bid marks the first win by a PRC developer in the government land sale this year.

Billion Development has been awarded an industrial development site in Fanling for HKD 732.9 million, close to the upper end of market expectations.

Sun Hung Kai Properties has set another record price for a residential development site sold via government land sale, winning a site in the north of the Kai Tak Development Area, which was awarded for HKD 25.2 billion.

Goodman HK Investments has been awarded a logistics development site in Tuen Mun West for just over HKD 2.75 billion. Goodman says it plans to develop a modern facility on the site to accommodate e-commerce and logistics providers.

Wang On Properties has outbid 24 competitors to win a residential development site in Tsing Yi for just over HKD 867 million. Market sources suggest Wang On intends to develop around 300 flats on the sit under its 'The Met' boutique residential property series.

25 local and mainland Chinese developers bid for a residential development site in Kwun Tong – the highest number recorded for a residential site in Kowloon.

​Wharf (Holdings) Limited has won the first public residential land sale tender in 2018, acquiring a site in Kowloon Tong for just under HKD 12.5 billion. Market sources suggest 200 luxury units will be built on the site – each over 2,000 sq. ft.

The last public land tender sale of 2017 was won by Tai Hung Fai Group Holdings for a residential development site in Sheung Shiu, New Territories for HKD 131.3 million.

A new record has been set for residential sites sold in the HK government land sales market with the awarding of a land sale tender for a waterfront site in Cheung Sha Wan for HKD 17.3 billion.

Sun Hung Kai Properties has won a hotel development site in Cheung Sha Wan for HKD 5.06 billion. The A.V. was around 35% above the higher end of market expectations and is a similar price, in unit rate, to the amount paid for the former Murray Building site in Central in 2013.

Manhattan Realty has won a second residential development in Tai Po Kau for HKD 323 million. Market sources suggest Manhattan intends to build low-density, high-end residential apartments and houses on the site before 2022.

New World Development won the land sale tender for a site in Cheung Sha Wan for just under HKD 2.97 billion. Market sources suggest the developer will construct a Grade A office building on the site, focused on science and technology industries.