New | China Vanke wins site in Hong Kong’s Tuen Mun
China Vanke, the largest home builder on the mainland, won a large residential site in Tuen Mun for HK$3.8 billion, according to Lands Department on Thursday .
The developer had won the 290,628 square foot site after beating 9 rivals such as Sun Hung Kai Properties, Cheung Kong Property Holdings, Henderson Land Development, Wheelock Properties, Paliburg Holdings and Regal International.
The site plot ratio is 2.9, meaning it can generate gross floor area of up to 841,745 sq ft. It had been expected to fetch between HK$2.9 billion and HK$4.3 billion.
Meanwhile, the Urban Renewal Authority received a total of 38 Expressions of Interest for the 120-unit residential development in Shau Kei Wan when the invitation for submission closed on Wednesday.
