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A joint venture between HKR International and Hysan Development has been awarded the land sale tenders for two residential sites in Tai Po for a total of HKD 3.39 billion. Situated on a hill overlooking the Tolo Harbour in a low-density, luxury residential area, the adjoining sites attracted 19 distinct bidders, of which 15 bid on both sites. The prices paid both exceeded the higher end of market expectations.The joint venture is expected to build low-density medium and large units on the site for completion on or before 2022. It marks Hysan's first foray into the New Territories residential market, and HKR International's first successful public land sales bid for three years.
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10 November 2016
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