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November 3, 2017

Cheung Sha Wan hotel site sold to Sun Hung Kai Properties
The Lands Department announced on October 30, the tender for a Cheung Sha Wan hotel site has been awarded on a 50-year land grant at a premium of $5.06 billion. New Kowloon Inland Lot No. 6550 off Hing Wah Street West, Kowloon, was awarded to Fedder Limited, a subsidiary of Sun Hung Kai Properties Limited.
     The land has a site area of 4,880 sq m and is designated for hotel purposes. The minimum and maximum gross floor areas are 20,862 sq m and 34,770 sq m. Sun Hung Kai Properties is expected to build a luxury hotel on the site. Analysts said it is probably the most expensive plot for a hotel venture to date in Hong Kong. 
     Sun Hung Kai Properties spokesman said the group expects the total investment in the project to reach about HK$8 billion. The project to be built will have a total GFA of approximately 374,000 sq ft and 37,000 sq ft for shops and restaurants.