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January 9, 2020

Tai Hang residential site awarded to CITIC

The tender for a Tai Hang site has been awarded on a 50-year land grant at a premium of $3.2 billion, the Lands Department announced on December 19, 2019.
     Inland Lot No. 9076 at No. 135 Tai Hang Road was awarded to Bright Vision International, a subsidiary of CITIC Pacific. It has a site area of 3,990 sq m and is designated for private residential purposes. The minimum and maximum gross floor areas are 7,182 sq m and 11,970 sq m. 
     The Hong Kong public-listed company CITIC Pacific said it plans to invest HK$5.5 billion, including the land cost, in the residential development.
     Shun Tak Holdings recently announced to have acquired an equity share in four land plots development projects in the Shanghai Jing’an District for a total of about RMB4.7 billion. One of the land plots is held by Shanghai Huahe and designated as the Huahe Site is a 14,845 sqm area located at Suhe Bay Area, Jing’an District, Shanghai and destined for residential, office and commercial properties for sale. The other three land plots held by Shanghai Huayan – the Huayan Site – are located in the same location and have about 40,000 sq m of underground total land area and 10,068 sqm overground to be developed into office and commercial properties for lease.