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<HK Home>SINO LAND, GREAT EAGLE H Jointly Win Residential Site at Choi Hing Rd, Jordan Valley, for $1.61B
Recommend 9 Positive 16 Negative 3 |
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The Lands Department announced that the tender for a site, New Kowloon Inland Lot No. 6674 at Choi Hing Road, Jordan Valley, Kowloon, has been awarded to King Virtue Limited, whose parent companies are SINO LAND (00083.HK) and GREAT EAGLE H (00041.HK), on a 50-year land grant at a premium of $1.61 billion. Earlier, market participants estimated the site's value to range between $1.56 billion and $2.23 billion, with the winning bid price slightly above the minimum market valuation. The site has a site area of about 3,830 square meters, and is designated for non-industrial (excluding godown, hotel and petrol filling station) purposes. The maximum gross floor area is approx. 34,470 square meters, not including the gross floor area of Government Accommodation, being a day activity centre and hostel for severely mentally handicapped persons, a supported hostel for mentally handicapped persons and a lay-by, all to be constructed by the purchaser under the Conditions of Sale. The Lands Department received a total of 8 tender documents for the site, originating from Hong Kong developers including CK ASSET (01113.HK), HENDERSON LAND (00012.HK), KERRY PPT (00683.HK), SHK PPT (00016.HK) and K. WAH INT'L (00173.HK), etc.. AASTOCKS Financial News Website: www.aastocks.com |
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