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MTR Tuen Mun Area 16 Station tender draws four bids

MTR said results will be announced later this week after closing submissions for the station atop development with nearly 3 million sq ft of gross floor area.

Reported · Written up by our desk · Industry

Tender submissions for MTR Corporation’s Tuen Mun Area 16 Station phase two property development closed on Wednesday, according to SCMP Economy. Market sources cited bids from several leading Hong Kong developers including CK Asset, Sun Hung Kai Properties, and Henderson Land Development, alongside a consortium comprising Sino Land, Kerry Properties, China Overseas Land and Investment, and Great Eagle.

MTR Corp said it received four bids in total and will give them detailed consideration, with results expected later this week. MTR managing director David Tang said the response was encouraging, adding that demand for housing in Hong Kong remains strong and that Tuen Mun is a mature community.

Tang also said the project’s location atop a railway station and its amenity set support a cautious outlook on the tender outcome. Vincent KC Cheung of Vincorn Consulting and Appraisal estimated the project’s accommodation value at HK$4,000, or about US$510, per square foot, valuing the development at close to HK$12 billion based on nearly 3 million sq ft of gross floor area including the commercial component.

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