Market Chatter: CK Asset, Sun Hung Kai Among Bidders For MTR Residential Development Project

MT Newswires Live
11/06

CK Asset (HKG:1113) and Sun Hung Kai Properties (HKG:0016) were among the bidders for a MTR Corporation (HKG:0066) residential development project, The Standard reported Wednesday.

The Tuen Mun Area 16 Phase 1 received six bids, including from K. Wah International (HKG:0173), China Overseas Land & Investment (HKG:0688), and a consortium made up of Sino Land (HKG:0083) also joined with Kerry Properties (HKG:0683) and Great Eagle Holdings (HKG:0041).

Wheelock Properties also made a bid for the project which has a total gross floor area of about 600,000 square feet and an estimated market valuation of HK$1.2 billion and HK$2.4 billion.

The site is located in the northeastern section of the overall development area where Tuen Mun Swimming Pool currently stands and is expected to offer up to 1,280 units across two residential towers.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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