Lohas Park Phase 4 to bring in 1,600 housing units

17 developers are now interested.

According to Barclays, after the Hong Kong Government’s earlier criticism that the MTR was not doing enough to boost housing supply, the MTR began to invite expressions of interest for Lohas Park Phase IV.

A total of 17 developers submitted the expressions of interest, including Cheung Kong, Nan Fung, Henderson Land, SHKP, NWD, Sino Land and Chinese developer Vanke.

Here’s more from Barclays:

The 1.3mn sf site is expected to contribute about 1,600 units to Hong Kong’s overall housing supply. The MTR kicked off the official tender on 28 March and will close it on 28 April.

Under the terms of the tender, the land premium for Lohas Park Phase 4 has been set at HK$2.71bn. The accommodation of HK$2,059psf for the site is 15% lower than the HK$2,410psf and HK$2,418psf land premium that were set for Phases 3 and Phase 2 in November 2007 and December 2005, respectively.

If including the HK$290mn upfront payment for site formation costs, the total land costs to the developer are likely to be about HK$2,279psf.