9 August 2014 - The tender for two land parcels located at Yeung Uk Road, Tsuen Wan and Hang Kwong Street, Ma On Shan was closed on Friday (8 August). Ming Pao reported that 27 tenders were received, of which 11 placed bids on the Tsuen Wan site and 16 placed bids on the Ma On Shan site. The response was better than market expectations.
The potential market value of the Yeung Uk Road site is estimated at HK$6 billion with a land price of around HK$5,700 per sq.ft. The site occupies an area of approximately 152,400 square feet which is zoned for commercial and residential development.
The site at Hang Kwong Street is only 33,400 square feet. Terms are also attached requiring that at least 180 residential units be built on the land.
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