Strong bidding interest expected for luxury site in Ho Man Tin
The 83,033 sq ft site at the junction of Fat Kwong and Sheung Foo streets could fetch between HK$3.8 billion and HK$4.38 billion, according to four surveying firms polled by the South China Morning Post.
A luxury residential site up for tender in Ho Man Tin is likely to attract keen bidding responses from developers, according to market observers.
With a maximum gross floor area of about 387,741 sq ft, the site should be worth between HK$9,800 and HK$11,300 per sq ft. The tender closes on Friday.
"This site is in the limelight because it is rare to find a luxury residential site in the urban area. It should garner strong interest from developers," said Centaline Surveyors' director, James Cheung King-tat, who put a price tag of HK$4.27 billion on the site.
"Since the size of this land parcel is not too large, it should also be able to attract different types of developers," he added.
In March, Kerry Properties won a larger neighbouring site at the junction of Sheung Lok and Sheung Shing streets for HK$11.69 billion, equating to HK$10,233 per sq ft.
Surveyors expect the latest site up for tender will be sold at a similar per sq ft price.