Kwun Tong clever street renovation commercial bidding
Savills said No. 107 Qiao Ming Street in Kwun Tong was sold for tender through tender. The proposed price is about $ 1.38 billion with a gross floor area of about 80,000 square feet and a price of $ 17,250. The project, formerly known as the Guoguang Group Center, was approved as an activation project in 2014. The owners sold the property before the refurbishment. It was agreed by the consortium for a consideration of $ 600 million but failed to sell successfully.
Hsiao Siu-hsin, head of Industrial and Commercial Sales at Savills in Kowloon, said that Qiao Ming Street is nearing completion of the main street of Kwun Tong Commercial District and Holiday Inn Express on the same street and that the former bus depot project to be held by Xindi will be rebuilt soon.