Following the government’s launch of the Ho Man Tin Fat Kwong Street residential site this quarter, Centaline Surveyors estimates the total land valuation at approximately HK$3.15 billion.
James Cheung King-tat, a surveyor at Centaline Surveyors, estimates that the site's land value was HK$15,000 per square foot of gross floor area. The site provides 250 units. It covers nearly 56,000 square feet and has an estimated gross floor area of over 210,000 square feet. The successful bidder will be required to provide a small portion of floor space for social welfare facilities.
Cheung believes that Ho Man Tin benefits from a mature community and is a prime residential area with comprehensive cultural and recreational facilities. Coupled with its proximity to Ho Man Tin MTR station, he expects the site to be well received by developers amid strong competition. With property market sentiment continuing to improve this year, he sees upside in the site's value.
