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| HONG KONG | <Search <Archives <eBulletin Next> | ||
November 19, 2025 Chinachem secures Tsuen Wan site for HK$2.475 Billion The Lands Department has announced that Lot No. 441 in Tsuen Wan, located at the junction of Yeung Shun Street and Texaco Road, has been awarded to Swift Action Limited, a subsidiary of Chinachem Group Holdings, for HK$2.475 billion. The site is granted under a 50‑year land lease, translating to an accommodation value of HK$5,692 per square foot. Site Details
Area:
Approx 6,515 sq m
Permitted Use:
Non‑industrial (excluding warehouse, hotel, and petrol filling station).
Gross Floor Area:
24,757–40,393 sq m
(excluding government‑designated facilities such as elderly care service premises, special child care centre, and public car park).
Tender Competition:
The site attracted nine bids from major developers, including K. Wah, CK Asset, Sun Hung Kai Properties, Henderson Land, Wheelock, China Overseas, and a consortium formed by Sino Land, Kerry Properties, and China Merchants.
Chinachem’s winning bid exceeding market valuation estimates by approximately 13.8%.
(Reported by Building.hk)
 (HKSARG) |
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