Property News · November 7, 2017

SHKP pays record HK$15.9 billion premium to convert Sai Kung farmland into housing project


Sun Hung Kai Properties (SHKP), one of the city’s biggest housebuilders, has reached an agreement with Hong Kong’s government to build more than 5,000 villas and medium-rise flats on a converted piece of farm land in Sai Kung, in a massive project. .
The conversion of 4.97 million square feet of farmland at Shap Sze Heung near Sai Sha Road requires SHKP to fork out HK$15.9 billion (US$2 billion) in premium to the government, the highest ever paid in the city, a sum that the…

Source : South China Morning Post
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