Kerry Properties wins Ho Man Tin Fat Kwong Street residential site for over $4.308 billion
The Lands Department announced that Kerry Properties won the residential site on Fat Kwong Street in Ho Man Tin for over $4.308 billion, a price far above the upper end of market expectations, at over $20,738 per square foot of gross floor area. The site's tender closed last Friday, attracting 10 tenders, with a maximum gross floor area of nearly 208,000 square feet and an estimated provision of about 250 units. The developer is required to build an elderly neighbourhood centre branch and a comprehensive community mental health centre branch and hand them over to the government free of charge.
The price was far above the upper end of market expectations, at over $20,738 per square foot of gross floor area, which can be checked against the 10 tenders received when the tender closed to gauge the level of competition.
Source: 香港電台·即時本地 · news.rthk.hk