Sun Hung Kai wins MTR Corp residential site tender

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.

View the full report here.