Financial Wire

Market Chatter: MTR Draws Eight Bids for Kam Sheung Road Phase 2 Project

-- MTR (HKG:0066) received eight bids for its Kam Sheung Road Station Phase 2 project on Monday after attracting 31 expressions of interest, The Standard reported Monday.

The site is valued at HK$3.62 billion to HK$7.24 billion, or HK$3,000 to HK$6,000 per square foot, and is expected to provide about 1,290 flats across 1.21 million square feet, according to the report.

Bidders included CK Asset (HKG:1113), Henderson Land (HKG:0012), Sun Hung Kai Properties (HKG:0016), K. Wah International (HKG:0173), and Wheelock Properties, among others, the report said.

MTR also plans to launch the tender for Tuen Mun A16 Station Package 2 after conducting market consultation this month, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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