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Government Land Sale: Kowloon Tong (NKIL 6579)

​Wharf (Holdings) Limited has won the first public residential land sale tender in 2018, acquiring a site in Kowloon Tong for just under HKD 12.5 billion.

The A.V. of HKD 28,531 per sq. ft. set a new record for Kowloon, and is the third highest amount paid for a residential development site sold by public land tender in Hong Kong.

Market sources suggest that Wharf subsidiary, Wheelock Properties, will build up to 200 luxury units on the site – each over 2,000 sq. ft. 

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