HK government’s Ap Lei Chau residential site tender gets bids from 14 developers

Located next to South Horizons housing estate, property could fetch as much as HK$11.4 billion

2-MIN READ2-MIN

The Lands Department has received at least 12 bids for a residential site on Lee Nam Road in Ap Lei Chau on Hong Kong island. Photo: SCMP

Published: 3:26pm, 17 Feb 2017Updated: 10:34pm, 17 Feb 2017

The Hong Kong government’s tender of a residential site in Ap Lei Chau on Hong Kong island has attracted good response, with 14 bids received from local and mainland developers

The waterfront site, which could yield a total gross floor area of 762,091 square feet, can accommodate 1,400 units of 540 square feet in size, and is estimated to fetch prices of HK$7.6 billion to HK$11.4 billion or HK$9,972 per square foot to HK$15,000 per square foot.

Hong Kong developers Cheung Kong Property (Holdings), New World Development, Sun Hung Kai Properties and Wheelock Properties were among those to have submitted a bid before the tender closed at noon.

Mainland developers including China Vanke, Citic’s property unit Citic Pacific, and China Overseas Land Investment also submitted separate bids.

Other bidders include a joint venture formed by KWG Property and Logan Property. Empire Group, owned by Sun Hung Kai Properties’ former chairman Walter Kwok Ping-sheung, also submitted a bid in the form of a joint venture with Henderson Land Development.

Located on Lee Nam Road, the 126,595 square feet site is next to the major housing estate, South Horizons.

HK government’s Ap Lei Chau residential site tender gets bids from 14 developers

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Located next to South Horizons housing estate, property could fetch as much as HK$11.4 billion

Located next to South Horizons housing estate, property could fetch as much as HK$11.4 billion