Consortium of Hong Kong and mainland developers wins bid for last parcel of land in Lohas Park

Dynamic Wish, a consortium formed by Sino Land, Kerry Properties, K. Wah International and China Merchants Land, won the tender for phase 13 of Lohas Park

The latest phase can yield a total gross floor area of 1.55 million sq ft or some 2,550 flats

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The MTR Corporation has the rights to develop the land in Lohas Park. Photo: Nora Tam

Published: 9:00am, 31 Oct 2020Updated: 9:00am, 31 Oct 2020

A consortium of Hong Kong and mainland developers trumped eight bidders to win the last parcel of land in Hong Kong’s largest residential enclave that would require an investment of up to HK$20 billion (US$2.6 billion).

The tender for phase 13 development of Lohas Park in Tseung Kwan O has been awarded to Dynamic Wish, a consortium formed by Sino Land, Kerry Properties, K. Wah International Holdings and China Merchants Land, MTR Corporation said on Friday.

The other bidders included heavyweights such as Sun Hung Kai Properties, CK Asset Holdings, Nan Fung Development, Henderson Land Development and a group formed by New World Development and Far East Consortium International.

Alex Leung, senior director at CHFT Advisory and Appraisal, noted that phase 11 of Lohas Park was also won by a consortium of Sino Land, K Wah and China Merchants Land. He added it made sense to cooperate again as it allows them to minimise the investment risk.

Sino Land was part of a consortium that won the rights to develop the last parcel in Lohas Park. Photo: Bloomberg News

The latest phase, which can yield a total gross floor area of 1.55 million sq ft or some 2,550 flats, will require an investment in the region of HK$17 billion to HK$20 billion. The project is slated to be completed in 2026.

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