Bid for prime site
An unnamed developer has made a minimum guaranteed bid of HK$3.5 billion to the government to trigger public tendering. The bid is for a 110,340 sq ft site in Deep Water Bay Drive, Shouson Hill, that could be developed into 248,135 sq ft. The tender period will be between April 27 and May 25. Also in Island South, China Shipping won a government tender last month for a site in Aberdeen for HK$2.5 billion, which translates into HK$11,000 per square foot.