MTR's Kam Sheung Road Station Phase 2 project receives eight bids

MTR Corporation (0066) drew eight bids for its Kam Sheung Road Station Phase 2 project on Monday, after receiving 31 expressions of interest, marking the best-received of topside properties at railway stations in nearly four years.

The project attracted local developers, including CK Asset (1113), Henderson Land Development (0012), Sun Hung Kai Properties (0016), K. Wah International (0173), and  Wheelock Properties, while Sino Land (0083) joined with Great Eagle (0041), China Overseas Land & Investment (0688) and China Merchants Land (0978) in a consortium bid.

Valuations for the site range from HK$3.62 billion to HK$7.24 billion, or HK$3,000 to HK$6,000 per square foot.

With a total gross floor area of about 1,206,500 sq ft, the development is expected to offer around 1,290 flats.

The original deadline for the tender was April 15, while MTRC said that the tender period has been extended to today in response to requests from interested developers.

Besides, MTRC's Tuen Mun A16 Station Package 2 will undergo a market consultation this month and be tendered as soon as possible, said David Tang Chi-fai, property and international business director of MTRC.

He added that the site involves nearly 3,000,000 sq ft, including more than 300,000 sq ft of shopping mall, emphasizing that the company has extensive experience in rolling out large-scale developments.