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12/22 News Roundup: Ho Man Tin Station Site Draws 6 Bids, K. Wah: Pricing Won’t Refer to Land Sale

Hong Kong Property | December 22, 2016

Ho Man Tin Station Site Draws 6 Bids
MTR Corporation said it has received six bids, fewer than market expectations, for the residential site on top of Ho Man Tin station yesterday. The bidders included Sun Hung Kai Properties, Cheung Kong Property, Wheelock, New World Development and Goldin Financial. Meanwhile, Sino Land joined hands with K.Wah, Shimao Property, Logan Property and Empire Group to bid for the site. The site’s gross floor area will be 742,716 square feet, and is expected provide 800-1000 flats and be completed between 2022 to 2023.

K. Wah: Pricing Won’t Refer to Land Sale
K. Wah International’s Kai Tak new project K.City is expected to be launched after Chinese New Year, while the company’s General Manager Tony Wan Wai-ming said yesterday that it will not refer to the land prices of Kai Tak in setting prices for the project. He added that the company’s pace of launching new projects would not be affected by single land sale. K.City provides a total of 900 flats sized between 300-2,000 sq ft. The project is expected to be completed in the second half of 2018.

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