Shau Kei Wan residential site draws eight bids

A residential site in Shau Kei Wan drew eight bids when the tender closed at noon on Friday. 

Sino Land (0083), K Wah International (0173), China Overseas Land & Investment (0688), Kerry Properties (0683), and China Merchants Land (0978) were said to have submitted their bids for the plot.

Shau Kei Wan Inland Lot No 860 at Shau Kei Wan Main Street East, which has a site area of 1,349.2 square meters, is designated for non-industrial purposes, excluding godown, hotel and petrol filling station.

It could provide a maximum gross floor area of 12,142 sq m for private residential purposes. 

Market valuation for the site ranges from HK$800 million to HK$1.2 billion, or from HK$5,300 to HK$8,000 per sq ft.

Developers are required to build a sub-base of district elderly community center on the site.