MTR Corp. (HKG:0066) plans to tender the first phase of its Tuen Mun A16 Station project this year, offering more than 1,000 residential units and resuming project tendering after nearly a year, The Standard reported Thursday, citing property and international business director David Tang Chi-fai.

Tang said the overall Tuen Mun A16 site spans more than 4 million square feet and will include housing, shopping malls, and community facilities, according to the report.

He noted that the second phase of the Tung Chung East Station project will also be put up for tender following the Tuen Mun project, while the Oyster Bay Station development will be launched after the station's completion, the report said.

Tang added that Hong Kong's residential property market is stabilizing on modest transaction improvements, while all 16 MTR shopping malls maintained full occupancy despite rental pressures, the news agency noted.

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