Hung Shui Kiu site exchange application extended to year-end

The government has reportedly extended the application of in-situ exchange of five commercial sites in Hung Shui Kiu to the year-end, which Henderson Land Development (0012) said is a good thing.

Before the extension, the applications about basic terms including land premiums ought to be due at the end of March.

According to market information, the involved commercial sites cover more than one million square feet, which are held by Sun Hung Kai Properties (0016) and Henderson Land, and will be used for commercial development purposes, involving a floor area of nearly 10 million sq ft.

Henderson’s executive director Augustine Wong Ming-ho said in an interview that it was a good thing to defer the payment of regrant premium. He believed that it would take time to deal with the matter. Wong also believed that the government was actively studying terms like the proportion of residential units and the phasing of development.

STAFF REPORTER