The MTR Corporation has rejected all five bids for a large residential site in Tung Chung on Lantau Island after the plot elicited a cool response from Hong Kong’s developers.“[MTR] has decided not to accept any of the tender submissions [and] will retender the project in due course,” the rail operator said in a statement. MTR declined to give a further comment.Given the costly investment required for the parcel, located atop MTR’s Tung Chung traction substation, the fact the bids fell short…
Source : South China Morning Post
Read more…MTR rejects all five bids for plot at Tung Chung, Lantau Island, as developers recoil at huge sum needed to build
