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12 vie for Hong Kong site expected to fetch HK$22.9B

The Hong Kong government May 26 closed the bidding for a site in Kai Tak, Kowloon, a tender expected to break records in the area.

Shimao Property Holdings Ltd., China Overseas Land & Investment Ltd., Cheung Kong Property Holdings Ltd., Henderson Land Development Co. Ltd. and Chinese Estates Holdings Ltd. are among the 12 parties that have submitted bids for the land parcel, the South China Morning Post reported May 26.

It is also speculated that Chinese conglomerate HNA Group is bidding for the former home of the Kai Tak Airport, as it owns four adjacent properties in the area.

If the 1.91 million-square-foot Area 1F Site 2 plot is sold at the top end of estimates, which is HK$22.9 billion, the tender would make a record in the area being billed as Hong Kong's second core business district, according to the report.