MTR invites developers to express interest in new phase at Lohas Park

PUBLISHED : Friday, 21 March, 2014, 1:33pm
UPDATED : Friday, 21 March, 2014, 1:33pm

MTR Corporation invited developers on Friday to express their interest in the new phase of its Lohas Park residential project in Tseung Kwan O.

The railway company will kick off the tendering shortly after March 26, the deadline for the expressions of interest.

Surveyors expect the response to the project to be better than for other sites recently, as it is located in an urban area. The last project in the area was released for tender seven years ago.

Phase 4 of Lohas Park could yield a total gross floor area of 122,302 square feet and provide 1,600 flats.

Alvin Lam, a director at Midland Surveyors, said: “The housing demand in Tseung Kwan O is strong, and property transactions are active.

“Many developers are interested in this project. But the response will still depend on the terms of the tender.

“The increasing housing supply in the district would dampen their interest. Developers would tend to submit a conservative offer.”

Cheung Kong may have an advantage in winning the site as it was the winning bidder for the last three phases of Lohas Park and the only developer that has development experience in the area.