Location and developer priorities limit bidding on Sha Tin Lot 625

The site has a buildable area of 304,191 square feet.

The latest bidding for Sha Tin Town Lot No. 625 saw modest interest from developers which may be attributed to the site’s location and developers' priorities, according to Colliers.

Colliers’ Head of Research, Kathy Lee, said the area, despite having a developed transportation and community infrastructure, is still remote from key amenities.

Lee also said developers still prioritise selling current stock and are concerned about construction expenses.

“A major issue is that developers still hold substantial inventories and remain focused on selling their current stock. Combined with high construction costs, some developers remain cautious in bidding for new sites,” she said.

Despite these challenges, Dorothy Chow, head of Valuation & Advisory Services at Colliers, said the project may appeal to university students and parents due to its proximity to several educational institutions.

The 60,838-square-foot site has a buildable area of 304,191 square feet that could provide over 500 residential units, Chow said.