The developer won with the highest bid of approximately HK$11.8 billion.
According to a Bloomberg report, the residential project is on top of a Hong Kong subway station.
The lowest prediction in a Bloomberg News poll of five surveyors for the Nam Cheong site in Sham Shui Po district was HK$13.2 billion, with a median of HK$14 billion. Bloomberg noted that Sun Hung Kai will give 5 percent of project net to MTR Corp.
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