In "Hong Kong Property," Centaline Property: It is expected that after the completion of the residential land at Jordan Valley, the practical price per square foot will exceed HKD 15,000

Zhongyuan Surveyors' Zhang Jingda believes that the land in Jordan Valley, Kowloon, received bids last Friday (2nd) and successfully received 8 bids, which can be considered in line with market expectations. Yesterday (7th), it was quickly awarded for HKD 1.61 billion, with a floor price of approximately HKD 4,339 per square foot, close to the lower limit of market expectations, indicating that developers' willingness to bid has increased. However, the land requires the construction of some social welfare facilities, leading to conservative bidding from developers.

He pointed out that the land is located in a hillside area of Kowloon, with a mature community development. The land size is moderate and is expected to be suitable for medium to small residential development. It is anticipated that after the project is completed, considering construction costs and reasonable profits, the practical selling price per square foot will need to exceed HKD 15,000.

The land area is approximately 41,226 square feet, designated for non-industrial (excluding warehouses, hotels, and gas stations) purposes. The maximum floor area is 371,035 square feet