URA's Bailey Street/Chi Kiang Street project to draw bid from major developers, says experts

The Urban Renewal Authority's Bailey Street/Chi Kiang Street project in Kowloon will attract major developers to participate as the deadline for expressions of interest closes soon on Wednesday.

Industry experts pointed out that the project will be attractive to many consortia, driven by recent robust sales of newly launched projects in the neighborhood and strong performance in recent land auctions.

Located at the junction of Bailey Street and Chi Kiang Street, this site, measuring 7,600 square meters, is expected to yield no fewer than 1,200 residential units.   

Market valuations for the site range between HK$4.65 billion and HK$5.53 billion, or HK$6,300 to HK$7,500 per square foot.

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