MTR has called for interested developers already.
The MTR has asked developers to submit expressions of interest for its 2.7mn sf GFA Tai Wai Station project.
According to a research note from Barclays, the Tai Wai project was previously withdrawn back in 2012 due to a lack of interest and bids that were considered too low.
Compared to the last land premium offered back in May 2012 of HK$12.7bn or AV of HK$4,699psf, surveyors expect the land premium this time to be down by around 15-36% to HK$8.1-10.8bn.
Due to the size of the project with 2,900 potential residential units and total investment costs that should exceed HK$20bn, surveyors expect bidding to be limited to the larger Hong Kong developers.
Do you know more about this story? Contact us anonymously through this link.