The Lands Department has announced that Regent Property Group's Regency Limited has won the bid for the Sha Tin Siu Lek Yuen site for approximately 1.022 billion yuan, with a lease term of fifty years. The site has a site area of approximately 5,652 square meters, designated for non-industrial use. The minimum and maximum gross floor areas are 16,956 square meters and 28,260 square meters respectively. The transaction price is below the lower limit of the market valuation, with a price of approximately 3,357 yuan per square foot.

Other bidders include Cheung Kong Property (01113.HK), Sino Land (00083.HK), Henderson Land, Sun Hung Kai, and New World (00016.HK).

Data shows that this release of the Sha Tin City Lot No. 625 Sha Tin Siu Lek Yuen project at the junction of Sha Tin Wai Road and Siu Lek Yuen Road, the scale of development is more than 90% larger than the land sold in the same area in July. The residential site has a site area of about 0.0608 million square feet, with an estimated gross floor area of about 0.3042 million square feet. The market valuation ranges from 1.06 billion to 1.2 billion yuan, equivalent to a floor area price of approximately 3,500 to 3,950 yuan per square foot.