Tsuen Wan residential site worth $2 billion draws nine bids

A residential site worth up to over HK$2 billion in Tsuen Wan has drawn nine bids when the tender closed at noon on Friday, the Lands Department said.

CK Asset (1113), Henderson Land Development (0012), Wheelock Properties, Sino Land (0083), K Wah International (0173), China Overseas Land & Investment (0688), were said to be among the developers submitted their bids for the plot.

The site, Tsuen Wan Town Lot No 441 at the junction of Wing Shun Street and Texaco Road, has a site area of 6,515 square meters and can provide up to 40,393 sq ft in gross floor area. 

Market valuation for the site ranges from HK$1.22 billion to HK$2.17 billion, or HK$2,800 to HK$5,000 per sq ft. 

It is designated for non-industrial purposes, excluding godown, hotel and petrol filling station. The winner is also required to build government accommodation upon the plot, including a center for home care services for frail elderly persons, a residential special child care centre and a lay-by.