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MTRC Invites Bids For 1,200-Unit Development

MTR CORPORATION (0066) IS TO INVITE EXPRESSIONS OF INTEREST FOR A SITE NEAR WONG CHUK HANG STATION, WHICH WILL PROVIDE UP TO 1,200 RESIDENTIAL HOMES. The MTR will invite letters of intent (LOIs) from interested property developers and/ or consortia for the property development project at Wong Chuk Hang Station, Phase 3, which has a total gross floor area of 1.5 million square feet, including 1 million sq ft for residential use and 500,000 sq ft for retail space. Construction of the project is expected to be completed in 2024, surveyors expect the site could fetch HK$20 billion, or HK$13,000 per sq ft in terms of gross floor area. The closing will be at 2:00 p.m. on 27 June.