Kerry Properties and Hon Kwok Land Investment are competing for a 10,979-square-foot commercial-residential site in Shiu Wo Street, Tsuen Wan. The two companies confirmed they had made separate bids for the Government tender of the site which closed yesterday. Chung Sen Surveyors estimated that the site would have a plot ratio of 6.5 times or produce 71,363 sq ft in gross floor area. The site could be worth about $175 million, it said. The successful sale of Discovery Park in Tsuen Wan had boosted developers' confidence in residential properties in the area, analysts said. Hon Kwok yesterday also submitted a bid for a 32,500 sq ft godown-office site in Tuen Mun at another Government tender. Hon Kwok managing director Herman Fung Man-hei expected that bidding for the Tuen Mun site would not be too competitive. Chung Sen estimated the Tuen Mun site, which could provide a gross floor area of about 162,500 sq ft, would fetch about $178 million.