Acquisition of Kowloon City 3 project rebuilds URA nearly 16,000 yuan ff price high

The URA has proposed to offer tenders to owners of three redevelopment projects in Kowloon City including Chun Tin Street / Chong Chi Street, Hung Fook Street / Gung Hang Street and Kai Ming Street / Wing Kwong Street at a net supply of HK $ 15,916 per square foot. The purchase price has been historically the highest .

The project involved 630 titles and about 852 households. URA refers to the appraisal of these 3 projects by the drawing of lots on behalf of seven independent consultants. The Land, Resettlement and Compensation Committee approved the adoption of the highest “assumed unit price” of the three projects as a single The price per square foot, the owner needs to consider within 60 days whether to accept the purchase price.