Ho Man Tin project draws strong interest

Ho Man Tin project draws strong interest

MTR Corporation Ltd (0066) received 31 expressions of interest for the second phase of a project atop Ho Man Tin MTR Station yesterday, that will provide about 900 to 1,000 residential units.

Kerry Properties (0683), Wheelock Properties, and Nan Fung Group are among Hong Kong developers that submitted the expressions of interest, while mainland developers who did so included China Overseas Land and Investment (0688), Longfor Properties (0960), and CITIC Pacific Properties.

The site bounded by Chung Hau Street, Fat Kwong Street, Yan Fung Street and Chatham Road North has a maximum residential gross floor area of 640,000 square feet. The target for the project’s completion is likely to be in 2024.

The site is estimated to worth HK$14 billion, or HK$22,000 per square foot in terms of gross floor area, according to James Cheung Tat-chi, a surveyor from Centaline Property.

A consortium led by Goldin Financial Holdings won the development rights for phase one of the station-linked project last December.

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