SHKP eyes property project
DEVELOPER Sung Hung Kai Properties (SHKP) has expressed interest in joining Kowloon-Canton Railway Corp (KCRC) in a giant commercial and residential project above the Hung Shui Kiu Light Rail Transit station in the New Territories.
It has sent a submission of interest to the KCRC.
The three-phase Hung Shui Kiu project is expected to cover 3.2 hectares and provide 1.07 million sq ft of floor area for housing, commercial and retail space, and car parking.
While the plot ratio has still to be negotiated with the Government, analysts believed the development could include up to 200 flats of about 600 sq ft.
One analyst said developers would be more inclined to participate in the scheme if the KCRC provided the land while the developer took care of construction costs.
Another developer, Henderson Land Development Co, said it was not interested in the project.