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CK Asset awarded HK$37.65B tender to develop Hong Kong railway project

CK Asset Holdings Ltd. emerged as the winner of the HK$37.65 billion third-phase development tender for the site next to MTR Corp. Ltd.'s Wong Chuk Hang metro station in Hong Kong, the South China Morning Post reported.

CK Asset beat rival bidders including Sun Hung Kai Properties Ltd., Henderson Land Development Co. Ltd., Chinachem Group Co. Ltd. and a consortium consisting of New World Development Co. Ltd., Wheelock Properties (Singapore) Ltd., Sino Land Co. Ltd., China Overseas Land & Investment Ltd. and K. Wah International Holdings Ltd. for what is considered to be the most expensive railway development in Hong Kong.

Plans for the mixed-use development comprise a total gross floor area of over 1.5 million square feet, and include an up to HK$6 billion shopping center and 1,200 apartments, with completion set for 2024.