In "Hong Kong Property," China Overseas won the bid for the residential land at Ngau Tau Kok Choi Ha Road for over HKD 1.806 billion, with a floor price of HKD 7,146 exceeding the valuation cap

The Lands Department announced that a piece of land located at No. 6675, Choi Ha Road, Ngau Tau Kok, Kowloon, has been granted to Mei Yi for HKD 1.80688 billion, with its parent company being China Overseas (00688.HK). The price per square foot is approximately HKD 7,146, and the lease term is fifty years. The company was the highest bidder.

The residential land at Choi Ha Road, Ngau Tau Kok, closed for bidding last Friday (6th), receiving 9 bids. The land area is approximately 33,700 square feet, adjacent to Choi Yi Court, Choi Ha Estate, and Tao Tak Gardens, and was formerly a vacant school building of Marino Secondary School, now serving as the Hong Kong Customs Training and Youth Development Centre. The total gross floor area that can be built on this land is 303,400 square feet, with a residential portion floor area cap of 252,800 square feet, expected to provide about 470 units. Comprehensive market forecasts estimate the land valuation to be between approximately HKD 1.14 billion to HKD 1.8 billion. (ha/)