The residential land in Sha Tin Tiu Keng Yau on Sha Tin Wai Road will close bids tomorrow (25th). Director Lam Tsz Ban of Midland Surveyors Limited stated that this project is the second residential land available in the same area within a short period of time, doubling the size of the previously sold Tins Chuk Hang Yuen Shun Wai project in July. The location is about a ten-minute walk from the MTR station, situated at a street corner adjacent to a highway, offering potential unobstructed views in the future, albeit with some expected noise impact. The transportation and community facilities in the area are well-developed, showing promising development potential. The response and fill price of the previous land tender in the same area were ideal, with a floor area land price of approximately HK$3,952 per square foot, providing a reference value for this tender. With the recent market recovery, it is estimated that this tender will attract developers to participate in bidding. Based on an estimated floor area land price of HK$3,500 per square foot, the valuation is approximately HK$1.065 billion.

Data shows that this project at the intersection of Sha Tin Wai Road and Tins Chuk Hang Road, Sha Tin City Lot No. 625, Tins Chuk Hang Yuen, was launched this time. The development scale is over 90% larger compared to the land sold in the same area in July, with an estimated construction area of approximately 0.3042 million square feet. Due to the well-integrated transportation facilities in the area and proximity to the MTR station, as well as the relatively mature community development, the project is of a moderate scale. It is expected to mainly offer one-bedroom and two-bedroom small to medium-sized units in the future, catering to the mass market. Such projects are more popular in the market and have relatively lower sales risks. Given the promising development potential and moderate investment amount, it is likely to attract developers to participate in bidding.