Xindi seizes Cheung Sha Wan Hotel’s premium of $ 13,500

Lands Department announced that the site of New Kowloon Inland Lot No. 6550 at Hing Wah Street, Cheung Sha Wan, Kowloon had just been awarded a sum of $ 5.06 billion to Fortune Enterprises Limited (000) under the new Land (016) at a price equivalent to about $ 13,520 per square foot. Which is 35% higher than the market expectation of $ 10,000. The Company beat the top ten bidders for the nine successful consortia such as Cheung Kong (1113), Heng Di (012) and Xin Zhi (083) Cost is also the government has traded the highest price of hotel land.

The project closed the tender on Friday with a total of 10 tender bids. It is located near the Cheung Sha Wan Wholesale Food Market and is located in the vicinity of Huixin New Land, covering 52,528 square feet and 374,000 square foot gross floor area available. The ancillary facilities floor area of not more than 150,000 square feet, and not more than 37,000 square feet of retail, dining floor.