URA’s Mong Kok project received 16 bids expected

URA’s reclaimed land project in Mong Kok hit 16 bids in line with market expectations. The majority of local small and medium-sized developers are developers, while Chinese developers are only eligible for the Vanke (Hong Kong) Landlord Hawk (00041) also bid for the bid.

Newly-reclaimed land projects belonging to urban areas with uncommon residential land are subject to market expectations as a result of the tender terms requiring developers to surrender their shopping malls to the URA after their redevelopment. This will inevitably affect the developers’ Entry criteria are mainly local small and medium-sized developers, medium and large developers such as New World (00017) and so on are not eligible, and Chinese developers only Vanke (Hong Kong).

Emperors: The project is quiet

Some of the developers also bid for joint ventures, including Siamese (00083), who is partnering with Cheung Shing (00367) and Hong On Estate (01243 ) Then his Chevalier (00025) and so on.

Some of the successful candidates, Emperor Shui Mei (00163), Senior Director, said that the redevelopment project is located in a very quiet and well-connected area. The only drawback is the commercial part to be returned to the URA. Therefore, the bid reflects the relevant terms and describes the group’s aggressive bidding. In addition, Far East Development (00035) Zhu Baolin, general manager of real estate development refers to the Group in the past, there have been many development projects in Mong Kok, the “affectionate knot”, that the current “bidding can not bid on the successful bidder.”