SHKP to invest HK$6 bln in Tuen Mun MTR project after winning tender

Sun Hung Kai Properties (0016) will commit about HK$6 billion to develop the Tuen Mun Area 16 Phase 1 residential project, after winning the tender from MTR Corporation (0066).

The site, located atop a planned railway station at the southern waterfront of Tuen Mun, offers scenic views and will benefit from ample future retail and community facilities, said Victor Lui Ting, deputy managing director of SHKP.

The development will mainly feature small- to medium-sized units, Lui said.

The project is expected to provide more than 1,000 apartments upon completion.

The tender attracted six bids from major developers including CK Asset Holdings (1113), K. Wah International (0173), China Overseas Land & Investment (0688), and Wheelock Properties.

MTR Corp said SHKP is a reputable and experienced developer that has partnered with the rail operator on multiple projects.

SHKP previously worked with MTR on Century Gateway, a residential development above Tuen Mun Station.

The developer has been actively acquiring land in recent years, including several residential sites in Sha Tin and completing the land premium procedure for a former warehouse in Cheung Sha Wan for redevelopment.