The Development Bureau has received 22 expressions of interest for developing post-secondary student hostels on three commercial sites in Kai Tak, Siu Lek Yuen in Sha Tin, and Tung Chung East, with tenders expected to kick off next month at the earliest.
The plots, which could collectively provide about 4,500 beds, have a valuation of up to over HK$4 billion.
Located in urban or extended urban areas with better traffic accessibility and more mature community and commercial facilities in the vicinity, the land does not require further planning applications for developing student hostels.
It was the first time the government had encouraged the development of student dormitories through land disposal in the open market.
The Kai Tak site near the Kai Tak Sports Park, the largest of the three, covers 7,400 square meters and has a maximum gross floor area of 43,000 sq m. Market valuation of the site ranges from HK$2.31 billion to HK$2.78 billion, or from HK$5,000 to HK$6,000 per sq ft.
The Siu Lek Yuen site, situated near MTR City One Station and Shek Mun Station, which can provide a gross floor area of 10,000 sq m, was valued between HK$430 million and HK$540 million, or between HK$4,000 and HK$5,000 per sq ft.
The Tung Chung site, adjacent to the future MTR Tung Chung East Station, which is scheduled to open in 2029, has a floor area of 23,000 sq m. Its valuation sits between HK$480 million and HK$730 million, or HK$2,000 and HK$3,000.
