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Government Land Sale: Cheung Sha Wan (NKIL 6550)

Sun Hung Kai Properties has won a hotel development site in Cheung Sha Wan for HKD 5.06 billion. The A.V. was around 35% above the higher end of market expectations and is a similar price, in unit rate, to the amount paid for the former Murray Building site in Central in 2013.

​The site is close to Nam Cheong MTR, and there are no other existing or proposed hotel projects in the immediate area. An adjacent site has been earmarked for residential development. 

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