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MTR to sell development site at Hong Kong's Wong Chuk Hang station

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MTR to sell development site at Hong Kong's Wong Chuk Hang station

MTR Corp. Ltd. is planning to release a tender for its second development package at Wong Chuk Hang station in Hong Kong over the next six months, subject to market conditions.

The sale will be carried out due to a rise in land supply from the government and the private sector via lease modifications, MTR's Finance Director, Leung-Wah Hui, said in its latest Aug. 10 earnings call.

Meanwhile, the first development package of the station was awarded to a consortium formed by Road King Infrastructure Ltd. and Ping An Real Estate Co. Ltd. in February.