Hong Kong’s ‘land king’ may fetch as much as US$7.1 billion as Central harbourfront site goes for tender
- The site could fetch HK$55 billion (US$7.1 billion), says Vincent Cheung, who has appraised its value between HK$37 billion and HK$55 billion
- The tender for the 516,316 sq ft commercial site, which could yield a total gross floor area of 1.6 million sq ft, closes on Friday
The prime Central harbourfront site, the last mega plot to go on sale in Hong Kong’s core business district, is likely to set a record as the most expensive in the city’s history, according to property consultants.
“Considering the plot’s strategic value, serious bidders will be submit high prices as well as innovative designs, as it is the last commercial site along the waterfront in Central,” said Vincent Cheung, managing director of Vincorn Consulting and Appraisal.
Cheung expects the site, next to International Finance Centre, to fetch about HK$55 billion (US$7.1 billion) or HK$34,000 per square foot, the top end of his valuation between HK$37 billion and HK$55 billion.
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“It is likely to set a record in Hong Kong’s land sale history,” he said.
