The first phase property development project at Tung Chung East Station by MTR (00066.HK) will close for bids today (the 18th) at 2 PM. As of 12:50 PM, three bids have been received on site, among which Chow Tai Fook (01113.HK) has submitted a bid.

The previously failed bid for the Tung Chung East Station project is located opposite the under-construction Tung Chung East Station, and MTR will "break down" the project for phased development and re-launch it. Several developers had previously submitted letters of intent for the project, including New World Development (00016.HK), Henderson Land (00012.HK), Wheelock Properties, Junfa Development, Jianhao Properties, FE CONSORT INTL (00035.HK), Sun Hung Kai Properties (00083.HK), Emperor International Holdings, and Chyau Fwu (華懋).

The first phase is located in the southeastern part of the project, with a maximum residential floor area of approximately 0.32 million square feet, expected to provide 600 units, a 53% reduction in residential area compared to the initial launch last year. The overall market valuation of the project is approximately 0.32 billion to 0.48 billion, with a valuation of about 1,000 to 1,500 dollars per square foot.