[Caihua News] The Lands Department announced that Vanke Real Estate (Hong Kong) and Qingjian International won the bid for residential land on Ma Wo Road in Tai Po for about HK$3.705 billion, with a land price of HK$4738 per square foot, in line with market expectations.

The land was tendered last Friday, and a total of 13 tenders were received. The bidding consortia included Changshi (01113-HK), Hengdi (00012-HK), Jiantao Group (00148-HK), Yingjun (00041-HK), China Overseas (00688-HK), Jianyuan Real Estate, Yuanzhan (00035-HK) and Zhongzhou Real Estate; Jiahua International (00173-HK) partnered with Xinji (00083-HK) and China Merchants Land (00978-HK) to bid.

The site is close to Sun Fung Garden in Tai Po. The site area is about 243,353 square feet. It is designated for private residential use. The maximum floor area that can be built can reach 781,897 square feet. The overall market valuation ranged from $2.74 billion to HK$4.54 billion, and the price of each square foot of land ranged from HK$3,500 to HK$5,800.

Source: The Letter