Sun Hung Kai Properties, Chinachem Group may bid in rare ‘two-envelope’ tender for prime commercial plot next to Hong Kong’s IFC

• Government using ‘two-envelope’ method to sell New Central Harbourfront Site 3, meaning winner will be determined by assessing both price and design proposal
• Size of cash bids is likely to be subdued by depressed outlook for city’s office sector after Covid-19 devastated demand, say analysts