Offers made to 251 property owners in Sham Shui Po

Offers were $9,807 and $9,857 per sq ft of saleable area.

According to a report, the Urban Renewal Authority issued conditional acquisition offers to 251 property owners affected by two redevelopment projects in Sham Shui Po today.

The owners have 75 days to consider the offers.

The sites have a combined area of 2,200 square metres, and are located at 270-286 Tung Chau Street/1-5 Kweilin Street and 1-3B Kowloon Road/1-5 Kiu Yam Street. The offers are $9,807 and $9,857 per square foot of saleable area, respectively.

To proceed with the projects, the authority must secure acceptance of offers for at least 80% of the undivided shares of each lot within 75 days.

Join Hong Kong Business community

The redevelopment is scheduled to be completed by 2019-20, and will provide around 270 small to medium-sized flats.

The authority will hold briefing sessions for affected owners, residents and shop operators, and will appoint a team of professional social workers from the Salvation Army to provide counselling and practical assistance to residents. 

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Hong Kong ranked as Asia’s most rent-burdened housing market
Whilst the ratio of apartment prices to earnings dropped from 26.5 in 2022 to 23.4, it remains second-worst among all cities surveyed.
Hong Kong and Singapore investors divided on risk exposure over next 12 months
Inflation is expected to remain subdued in the region, with only 25% of Asia respondents predicting a rise, the lowest across all surveyed geographies.