Tender result for site in Tsing Yi announced

     The Lands Department today (November 4) announced that the Government has rejected all of the nine tenders which were received for the purchase of Tsing Yi Town Lot No. 190 at Sai Shan Road, Tsing Yi, New Territories, when the tender closed on October 30, for the reason that the tendered premiums did not meet the Government's reserve price for the site.

     Disposal of sites in the Land Sale Programmes in the open market follows an established mechanism. The Government will not sell a site if there is no bid that reaches at least the reserve price as assessed by the Government's professional valuers.

     The tenderers in alphabetical order, with the name of the parent company where provided by the tenderer in brackets, were:

(1) Asia Bright Development Limited (Sino Land Company Limited)
(2) Avion Investment Limited (Henderson Land Development Company Limited)
(3) Century Basis Limited (K. Wah International Holdings Limited)
(4) K Wise Limited (K&K Property Holdings Limited)
(5) Rich View Investments Limited (Cheung Kong Property Holdings Limited)
(6) Sanon Limited (Far East Consortium International Limited)
(7) Smart Base Holdings Limited (Paliburg Holdings Limited and Regal Hotels International Holdings Limited)
(8) Super Great Limited (Sun Hung Kai Properties Limited)
(9) Super Record Limited (New World Development Company Limited)

     "The bids placed by tenderers depend on a myriad of factors, such as how attractive the individual site is to the individual tenderers bidding, the tenderers' considerations of the market conditions, the corporate position and the development strategy of individual tenderers," a spokesman for the Lands Department said.

     "It is the Government's policy objective to provide steady and sustained land supply to the market to cater for the community's demand for housing, commercial and business sites. This objective will not be affected by the results of individual tender exercises. The Government will consider putting this Tsing Yi site up for sale at an appropriate time," the spokesman added.

     Tsing Yi Town Lot No. 190 has a site area of about 6,200 square metres and is designated for non-industrial (excluding godown, hotel and petrol filling station) purposes. The minimum gross floor area is 22,320 sq m. The maximum gross floor area for non-industrial (excluding godown, hotel, petrol filling station and private residential) purposes is 18,600 sq m. The maximum gross floor area for private residential purposes is computed according to the relevant condition in the Conditions of Sale.

     As from April 1, 2012, the Lands Department has completed a total of 106 tender exercises for 105 sites in the Land Sale Programmes, among which two tender exercises had to be cancelled due to the bids falling below the reserve price (the Tsing Yi site in question and one site in Pak Shek Kok available for tender in early 2014).

Ends/Wednesday, November 4, 2015
Issued at HKT 19:00