A residential site in Tung Chung draws six bids in tender

A private residential site in Tung Chung received six bids when the tender closed on Friday, the Lands Department said.

Sun Hung Kai Properties (0016), K Wah International (0173), China Overseas Land & Investment (0688), and a consortium formed by Sino Land (0083) and Kerry Properties (0683), were said to have submitted their offers for the site. 

The site, Tung Chung Town Lot No. 54 at Area 106A, has an area of about 14,152 square meters. It could accommodate nearly 1,000 units with a maximum of 49,532 sq m in gross floor area. 

Market valuation of the plot ranges from HK$850 million to HK$1.6 billion, or HK$1,600 to HK$3,000 per sq ft.

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