At least 16 developers have submitted bids for the government tender of a residential plot in Kai Tak area before the deadline closed on Friday,
Surveyors are projecting the site, known as Kai Tak Area 1L Site 1, could be worth HK$4.6 billion to HK$5 billion, or HK$10,000 to HK$12,000 per square foot.
“The response is within expectation. It shows the policy speech has limited impact on the property market,” said Thomas Lam, senior director of Knight Frank.
The site, could yield a…
Source : South China Morning Post
Read more…Kai Tak residential site ‘Area 1L Site 1’ attracts at least 16 bids from developers
