Nine bidders in race for Tseung Kwan O site
But just three developers signal interest in a smaller block of land released in Tuen Mun
Two residential sites up for tender have had mixed response, with the bigger plot in Tseung Kwan O attracting strong interest but the other in Tuen Mun gathering just three bids.
The 149,850 square feet site at Area 65CI in Tseung Kwan O drew nine submissions, the Lands Department said.
Surveyors estimate the two sites will fetch between HK$2.2 billion and HK$2.33 billion.
"The response for the Tseung Kwan O site is understandable. The government has in the past received similar number of bids whenever it has offered sites in Tseung Kwan O," Centaline Surveyors' director James Cheung King-tat said.
He blamed the tepid response to the Tuen Mun site on its smaller size and inaccessibility.
"The Tuen Mun site would attract small investors in view of the small lump sum involved. But their appetite may have been dented by the sharp downturn in property sales since the government rolled out a string of cooling measures to curb investment demand," he said.