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Hong Kong North Point redevelopment site listed at HK$1.2 billion
The owner warns redeveloping could bring losses of up to 30%, with a reserve price of HK$600 million after years of compulsory sale and financing costs.
A North Point redevelopment site in Hong Kong is being marketed for HK$1.2 billion, or about US$153 million, after its owner warned that completing the project could lead to losses as large as 30%. The listing highlights the risks that private developers face in the city’s urban renewal push, where acquisition timelines, financing costs, and uncertain returns can weigh on projects even as the residential market recovers, according to SCMP Economy.
The site, located at 77-87 Marble Road, covers 7,680 square feet and is being offered for redevelopment into residential, commercial, hotel, or student accommodation uses, Cushman and Wakefield said. Interested parties must submit expressions of interest by September 28.
SCMP Economy reports that the current owner is a consortium led by Macau developer Excellent Group, based on Land Registry records, with Lo Shing-chung listed as a director and identified as Excellent Group’s founder. The consortium previously spent years assembling units in the three-block, 61-year-old property before obtaining a compulsory sale order in July 2025, then won the site at a HK$600 million reserve price after no competing bidder emerged.
Market sources cited by SCMP Economy said the consortium spent more than HK$800 million acquiring units, with additional years of financing costs lifting the total cost base. They characterized the HK$1.2 billion asking price as “covering the cost,” and the outlet said Excellent Group did not respond to a request for comment.