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Chinachem Acquired a Siu Lek Yuen Gov’t Land


Being the owner of several projects in Siu Lek Yuen, it would have been in SHKP's favour to secure another site in the same district, especially after winning a small gov’t site (STTL 623) opposite City One MTR Station by a narrow margin in July. 


However, the recent tender of STTL 625 that closed on 25 Oct was won by an unexpected bid from Chinachem, who had not been among the 11 bidders in the previous tender (including four mainland China based developers). 


There were bids from 5 HK-based big developers plus a builder for the recent tender. The awarded price to Chinachem is AV$3,357 psf, which is just higher than my estimate of $3,090 to $3,220 psf.


Oriental Daily https://lnkd.in/gTZiGbRe

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