Wharf-led consortium wins residential site in Hong Kong for HK$7.25B

A consortium led by Wharf (Holdings) Ltd. won the tender for a residential site in Hong Kong after placing the winning HK$7.25 billion bid.

Hong Kong's Lands Department said it awarded a 50-year land grant to Active Pursuit Ltd., jointly owned by Wharf Development Ltd., Boswell Holdings Ltd., Cheung Chung Kiu, Chan Hoi Wan and Thomas Lau Luen Hung, for the site located at 9 and 11 Mansfield Rd. in The Peak district.

The property has a site area of about 5,067 square meters, reserved for private residential uses. Minimum gross floor area is 8,081 square meters, while maximum gross floor area is 13,468 square meters.

Other bidders for the site include CK Asset Holdings Ltd., Henderson Land Development Co. Ltd., Sun Hung Kai Properties Ltd. and K. Wah International Holdings Ltd.

In December, Wharf also secured a residential development site within the same area, paying HK$12.00 billion for the roughly 12,531-square-meter land parcel.