Big developers vie for another Kai Tak site

Monday, June 24, 2019

Leading developers are among six bidders for the Kai Tak Area 4C site 1, for which bids closed on  Friday.

The Lands Department announced that tenders were received from Sun Hung Kai Properties (0016), CK Asset (1113) and Kerry Properties (0683), as well as joint bids by K.Wah International (0173) and Sino Land (0083), and China Overseas Land and Investment (0688) with Wheelock and Company (0020).

The residential site has an area of about 102,000 square feet, and the maximum gross floor area is 714,000 sq ft.

The site is estimated at between HK$12.1 billion and HK$14.3 billion, or HK$17,000 to HK$20,000 per sq ft.