MTR Accepts HK$10.5 Billion Land Premium for Tuen Mun A16 Station Project
Thestandard · 1 SOURCES1 day ago1 MIN
Summary
MTR Corporation (stock code: 0066) has officially accepted a HK$10.5 billion land premium set by the government for the Tuen Mun A16 Station Package Two Property Development project. Sun Hung Kai Properties (stock code: 0016) secured the development rights earlier this month, outcompeting three other bidders for the prime railway-linked site. The project represents a significant investment in the New Territories West housing market.
Key Points
- MTR Corporation accepted the government-set land premium of HK$10.5 billion for the Tuen Mun A16 Station Package Two development
- Sun Hung Kai Properties won the site earlier this month, defeating three competing bidders
- The project was valued at approximately HK$9.68 billion to HK$12.1 billion, or HK$3,200 to HK$4,000 per square foot
- Residential gross floor area will not exceed 249,979 square meters; commercial gross floor area up to 31,100 square meters
- Development includes residential, commercial, government accommodation and parking spaces
Why It Matters
The acceptance marks a pivotal step toward delivering roughly 5,500 new homes in Tuen Mun, addressing housing demand in the western New Territories. The railway-linked development model continues to serve as a key mechanism for the government and MTR to jointly fund infrastructure expansion while maximizing land utilization .
The acceptance marks a pivotal step toward delivering roughly 5,500 new homes in Tuen Mun, addressing housing demand in the western New Territories. The railway-linked development model continues to serve as a key mechanism for the government and MTR to jointly fund infrastructure expansion while maximizing land utilization .