Stock photo /Unsplash

Tsuen Wan residential site sold at $1.44b

The 8,360-square metre lot will be used to construct a hostel for mentally handicapped people. 

The Hong Kong Land Department announced the sale of a residential site at Po Fung Road in Tsuen Wan.

The tender for the Tsuen Wan Town Lot No. 427 was awarded to Wealthy Guide under Kerry Properties on a 50-year land grant at a premium of $1.44b.

The 8,360-square metre site has a minimum and maximum gross floor area of 17,520 square metres and 29,200 square metres, and it is designated for private residential purposes.

The purchaser excluded the gross floor area of government accommodation for the construction of a 30-place supported hostel for mentally handicapped people. 

Join Hong Kong Business community
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!