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ABLE ENG HLDGS Wins Tung Chung Residential Site for HKD1.63B; Bid Above Expectations
Recommend 6 Positive 3 Negative 2 |
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The Lands Department announced that the tender for a site, Tung Chung Town Lot No. 54 at Area 106A, Tung Chung, New Territories, has been awarded to the highest tenderer, Able Best Limited (parent company: ABLE ENG HLDGS (01627.HK)), on a 50-year land grant at a premium of HKD1.627 billion. Tung Chung Town Lot No. 54 has a site area of about 14,152 square meters and is designated for private residential purpose. The minimum gross floor area is 29,720 sq m, and the maximum gross floor area that may be attained is 49,532 sq m.. Based on the maximum permissible gross floor area of approximately 533,000 square feet, the accommodation value is about HKD3,052 per square foot. According to valuations by Midland Surveyors and CBRE, the site was estimated to be worth approximately HKD960 million. AASTOCKS Financial News |
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