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Sino Land beat competition from 29 other bidders to be awarded a residential development site in Ma On Shan for just over HKD 1.38 billion. The tender drew a record number of bidders for a government land sale owing to the site's rare qualities—unobstructed sea views and walking distance to the beach. Sino Land's win is the first by a local developer in the government residential land sales market in 2017—previously all other sites tendered had been snapped up by mainland Chinese developers.Market sources suggest Sino will build around 100 large, luxury flats and houses on the site on or before 2023.
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24 July 2017
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