The government is selling the Sha Tin Siu Lek Yuen residence land through tender this season. Leung Hin Ching, Senior Director of Valuation and Consulting Services at CBRE Group Hong Kong, said that after the removal of spicy measures, the transaction price per square foot of private residential units near Siu Lek Yuen recorded between HKD 14,742 and 17,235. The market currently prices new projects close to the price of second-hand property, and provides an indicator for bidders to estimate the total development value of the project.

He pointed out that the development scale of Siu Lek Yuen residential land is smaller, and the investment amount, development cycle, and expected risks involved will be relatively smaller as well. It is expected that the tender will attract the interest of small and medium-sized developers. Compared with the two previous Siu Lek Yuen residential lands sold by the government, the land this time is further away from the Tuen Mun MTR station, and its land valuation per square foot is expected to be lower.

Regarding the multi-story industrial land in Hung Hom, he pointed out that the deadline for tendering for multi-story industrial land in Yuen Long was extended earlier mainly because the industry reflected to the government that it needed more time to formulate relevant proposals. It is expected that the government will reserve more time for tendering for multi-story industrial land in Hung Hom.