10 developers in the fray for prized luxury siteBusiness | 12 Jan 2018 9:03 pm
Major real estate players in Hong Kong have thrown in their bids for what will be one of the costliest housing plot sales in the city.
Ten property developers are vying for the rare urban luxury residential site in Kowloon Tong.
Cheung Kong, Henderson Land and Sun Hung Kai are among developers who submitted bids to the government before the deadline at noon today, RTHK reports. (Pictured, a representative of Wheelock Property prepares to submit bid documents).
The site, at the junction of Lion Rock Tunnel Road and Lung Cheung Road, is expected to fetch at least HK$9.6 billion.
Some analysts are predicting that it'll actually go for more than HK$16.5 billion, which would translate into HK$38,000 per square foot – making it the most expensive plot in Kowloon.-Photo: RTHK