Only one bidder

ONLY one bidder has tendered to redevelop an industrial site at Kwai Chung owned by Nan Fung Development.

When tenders closed yesterday, Simon Chow, director of investment sales at Colliers Jardine, which organised the tender, said he was satisfied with the response in view of uncertain market conditions.

Mr Chow said the landlord and the bidder were still negotiating.

Market analysts had estimated the value of the development site, at 94 Ta Chuen Ping Street, at around $100 million.