Kwai Chung site sold for $1.1b to CITIC Pacific subsidiary

It was awarded on a 50-year land grant.

Might & Right Limited, a CITIC Pacific subsidiary, won the bid for a non-industrial site in Kwai Chung, the Lands Department revealed.

In a government statement, the tender for Lot No. 515 at Lai Kong Street was awarded for $1.1b.

The site has an area of over 3,880 square metres (sq m) and can be developed for sites such as godown, hotel and petrol filling station.

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The site’s gross floor areas are 16,494 sq m and 23,280 sq m.