The Hong Kong government has awarded a waterfront site in Cheung Sha Wan, a residential district in Hong Kong, to a consortium of five Hong Kong and mainland developers for $2.21 billion, according to an announcement by the city’s Lands Department.
The sale is the city’s most expensive residential plot, according to local media reports.
The consortium includes Sky Asia Properties, Hong Kong firms Sino Land, Wheelock Properties, K Wah International, SEA Holdings and Shimao Property.
The parcel totals 208,260 square feet, which is reserved for private residential purposes with a maximum gross floor area of 987,804 square feet. The site, New Kowloon Inland Lot No 6549, is expected to bring more than 1,200 housing units to the market.
