Hong Kong’s top developers vie for rare Tsuen Wan site in test of land market rebound



Nine groups, including some of Hong Kong’s largest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings, Henderson Land and Chinachem Group – have submitted offers for a 70,127 sq ft parcel in Tsuen Wan in the New Territories.

The Lands Department received the bids by noon on Friday, the deadline for the tender that began on September 26, according to a spokeswoman, who did not provide further details.

The developers confirmed their participation in the tender to the Post.

The site at the junction of Wing Shun Street and Texaco Road in Tsuen Wan is designated for non-industrial purposes and is estimated to provide about 780 average-sized flats, according to Secretary for Development Bernadette Linn Hon-ho in comments made in July.

About 940 square metres (10,118 sq ft) must be set aside for social welfare facilities, including a centre for home care services for elderly people and a residential special childcare centre, among others.

Being the only residential site to be offered by the government in the second quarter of its financial year, the plot “presents a compelling development opportunity”, said Hannah Jeong, executive director and head of valuation and advisory services at CBRE Hong Kong.

  • Related Posts

    DeepSeek recruits former Jane Street engineer to catch up on AI agents, revenue race

    Chinese artificial intelligence heavyweight DeepSeek has recruited a former Jane Street star engineer to its new AI “harness” team, as it looks to ensure it does not fall behind in…

    Continue reading
    AI | China’s Ganfeng secures orders amid surge in demand for global energy storage, AI boom

    China’s Ganfeng Lithium, a global giant of the lithium industry, says its orders have been booked through the first half of 2027 amid a surge in demand for energy storage…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *