Hong Kong's Lands Department will launch on Sept. 20 the public tender for an approximately 59,746-square-meter nonindustrial land parcel in the city's Kowloon area.
The Kowloon Inland Lot No. 11262 property at the junction of Lin Cheung Road and Austin Road West has a minimum gross floor area of 176,400 square meters and a maximum gross floor area of 294,000 square meters. It is expected to fetch about HK$90 billion, the South China Morning Post reported, citing a Knight Frank estimate.
If sold at the expected amount, the development site atop the West Kowloon high-speed rail terminal will be the most expensive land parcel to be sold in the city, according to the Sept. 14 report. Any development on the property could cost investors more than HK$100 billion, the report added.
The tender invitation for the property will remain open until Nov. 22, according to a government notice.
