Sun Hung Kai Properties awarded a site in Sha Tin for $606 million

Sun Hung Kai Properties (0016) has won a residential site in Sha Tin for HK$606 million, or around HK$3,100 per buildable square foot through tender, according to the Lands Department.

The other five tenderers include K&K Property, CK Asset (1113), China Overseas Land & Investment (0688), Kerry Properties (0683), and Sino Land (0083), the department said in a statement on Monday. 

The site, Sha Tin Town Lot No 651, has an area of about 3,600 square meters, with an attainable gross floor area maxing out at 18,000 sq m.

Market valuation for the plot ranges from HK$540 million to HK$680 million, or HK$2,800 to HK$3,500 per square foot.