Publications

Transactions - AUGUST 10, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Sun Hung buys site for $2.6b project in Hong Kong

by Andrea Waitrovich

Sun Hung Kai Properties has won the right to develop a large property project at Yuen Long station in Hong Kong with a record bid — HK$9.32 billion, or HK$22,144 per square foot ($1.2 billion/$2,856 per square foot). The seller was the Hong Kong Lands Department. 

Sun Hung Kai Properties will be developing a $2.58 billion mixed-use project, which is expected to be completed in 2022.

The development site would comprise 1.36 million square feet of residential area and 124,000 square feet of commercial space. The project will provide at least 1,876 apartment units.

Sun Hung Kai Properties has been actively buying up development sites in Hong Kong. The firm purchased Tai Po Town Lot No. 225 for $448.7 million in March and Tuen Mun Town Lot No. 539 for $170.1 million. 

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy