Sha Tin Shek Mun Residential Land Tender Opens November 20
On.cc · 2 SOURCESabout 11 hours ago2 MIN
Summary
The Lands Department announced on Friday that a residential land parcel in Sha Tin Shek Mun will begin its tender process on November 20, with the deadline set for December 18. The site, located at the junction of Tai Chung Kiu Road and On Yam Street, spans approximately 86,275 square feet and can accommodate a gross floor area of about 534,905 square feet. The development is projected to deliver around 960 residential units. Market analysts estimate the land value between HK$2.41 billion and HK$4.28 billion, translating to HK$4,500 to HK$8,000 per square foot of floor area. This tender represents the sole land parcel released from the current quarter's land sale programme.
Key Points
- The site is situated at the junction of Tai Chung Kiu Road and On Yam Street in Sha Tin Shek Mun
- Site area is approximately 86,275 square feet with gross floor area of 534,905 square feet
- Development is expected to provide around 960 residential units
- Market valuation ranges from HK$2.41 billion to HK$4.28 billion, or HK$4,500-8,000 per sq ft
- The tender opens on November 20 and closes on December 18
- This is the only land parcel in the current quarter's land sale programme
Why It Matters
This tender offers a significant supply of new residential units at a time when Hong Kong's housing market continues to face supply constraints. The single-land release from this quarter's sale programme underscores the government's approach to measured land supply, while the estimated valuation range reflects market confidence in the Sha Tin area's development potential .
This tender offers a significant supply of new residential units at a time when Hong Kong's housing market continues to face supply constraints. The single-land release from this quarter's sale programme underscores the government's approach to measured land supply, while the estimated valuation range reflects market confidence in the Sha Tin area's development potential .