Tai Wai Station project possibly on the horizon

MTR has called for interested developers already.

The MTR has asked developers to submit expressions of interest for its 2.7mn sf GFA Tai Wai Station project.

According to a research note from Barclays, the Tai Wai project was previously withdrawn back in 2012 due to a lack of interest and bids that were considered too low.

Compared to the last land premium offered back in May 2012 of HK$12.7bn or AV of HK$4,699psf, surveyors expect the land premium this time to be down by around 15-36% to HK$8.1-10.8bn.

Due to the size of the project with 2,900 potential residential units and total investment costs that should exceed HK$20bn, surveyors expect bidding to be limited to the larger Hong Kong developers.