Tai Cheung secures Ap Lei Chau site for HK$1.3b

Business | 27 May 2020 7:12 pm

Tai Cheung (0088) won the tender for a residential plot on Praya Road in Ap Lei Chau for HK$1.33 billion, or HK$15,097 per buildable square feet, close to the upper end of market valuation.

Tai Cheung outbid 18 other developers; among them are Wheelock Properties, Hang Lung Properties (0101), New World Development (0017), Sino Land (0083) and Sun Hung Kai Properties (0016).

The site covers a total of 12,150.3 sq ft. The maximum gross floor area for private residential purposes that may be attained is 88,281.2 sq ft.

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