More than $5 billion could be fetched from the sale of four government sites up for tender on Friday and for auction next Wednesday, surveyors say.
A residential site at Leighton Hill in Causeway Bay is expected to sell for more than $3 billion when tenders close on Friday.
Chung Sen Surveyors director Cheng Wing-ming was optimistic in predicting a price of $3.4 billion, or an accommodation value of $3,800 per square foot, for the site.
He said selling prices of finished flats at the development could reach $8,000 to $9,000 per sq ft when they were completed in three to four years.
Analysts were divided over the likely price of a Kowloon Bay industrial-office site, also up for tender on Friday, because of uncertainty in the sector. They forecast between $400 million and $960 million, or an accommodation value of $250 to $600 per sq ft.
The site, with a potential floor area of 1.6 million sq ft, would draw only a lacklustre response, partly because it was near Kai Tak airport.
Early this year, Kerry Properties bought a smaller industrial-office site in the area for $112 million, or $202 per sq ft.