Sino Land wins bid for non-industrial land in Tuen Mun

It beat seven competitors for the lease of a 4,368-sqm. site area for 50 years.

A non-industrial use land located at No. 569 Hoi Chu Road, Tuen Mun, will be leased to Sky Honest Limited, a subsidiary of Sino Land Company Limited for 50 years, said the Lands Department on Wednesday.

The tender closed on 8 August, with Sky Honest Limited beating out seven other well-known real estate companies, including subsidiaries controlled by China Overseas Land & Investment Limited, Kerry Properties Limited, and CK Asset Holdings Limited.

The total lease price was $1.089b, equivalent to a floor area premium of HK$3,850 per sq. ft, can accommodate over 600 residential units and is close to a future MTR station.

With a site area of 4,368 sqm. and floor area ranging from 15,725 sqm. to 26,208 sqm. It is the first residential land parcel transaction for Hong Kong government in 2025 fiscal year.