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PetroChina International wins tender for 5 Hong Kong filling stations

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Capital Markets View – January 2021


PetroChina International wins tender for 5 Hong Kong filling stations

Hong Kong's Lands Department awarded the 21-year land grants for five petrol filling stations in the city to PetroChina International (Hong Kong) Corp. Ltd. after it offered an aggregate premium of nearly HK$2.89 billion.

The five properties awarded to the company are Sha Tin Town Lot No. 628 along Chik Chuen Street in Sha Tin, New Territories; New Kowloon Inland Lot No. 6622 at No. 592 Prince Edward Rd. East, Kowloon; New Kowloon Inland Lot No. 6623 at No. 373 Kwun Tong Rd. in Kowloon; Fanling Sheung Shui Town Lot No. 273 at Jockey Club Rd. in Fanling, New Territories; and Tai Po Town Lot No. 250 at 1P Kwong Fuk Rd. in Tai Po, New Territories.

Aside from the winning tenderer, New Kowloon Inland Lot No. 6623 attracted four other offers, while the remaining four properties lured four bids each including PetroChina International, the Lands Department added.