Sun Hung Kai Properties Ltd. and China Overseas Land & Investment Ltd. are among the 38 bidders for the fourth phase of MTR Corp. Ltd.'s development atop Wong Chuk Hang Station in Hong Kong, The Standard reported Sept. 24.
The site, which market surveyors valued at between HK$9.57 billion and HK$12.8 billion, also attracted offers from Far East Consortium International Ltd. and Great Eagle Holdings Ltd.
The property has a maximum floor area of 638,000 square feet. It is intended for the development of two residential buildings that will provide up to 800 homes upon its expected 2025 completion.
The site is expected to fetch more than HK$15 billion given the number of submitted bids amid the current sluggish property market, said Leo Cheung Sing-din, executive director and corporate development director of property consultant Pruden.
