Tender for Chi Kiang Street redevelopment closed today
The tender for the project in Chi Kiang Street of To Kwa Wan is closed today (15 February). The project has a total buildable floor area of around 90,000 sqf and it is estimated that more than 100 residential units can be constructed on the site.
Acceptance of letter of intent for the project in concern has ended on 6 January and there were a total of 17 developers who submitted letters of intent and later were invited to submit tender applications.
SINO LAND (00083), WANG ON GROUP (01222), WING TAI PPT (00369), KOWLOON DEV (00034), CHUN WO DEV (00711) together with CHUANG'S INT'L (00367), and EMPEROR IHL (00163) are also interested in bidding for the site.
Market expected developers would offer aggressive prices as there is a shortage of small-sized plot in the market. The valuation of the plot is at HK$360 mln - HK$586 mln, or equivalent to floor price of around HK$3,991 - HK$6,497. It is believed that the future floor price of the plot could reach HK$9,000 psf. (k)
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