Tsing Ha Lane site sold at 70% above valuation
December 05, 2016 - Tuen Mun
Residential plot on Tsing Ha Lane in Tuen Mun has been sold for HKD 1.4 billion, or HKD 6,800 per sq ft of permissible GFA, which is not only 70% higher than the upper range of market valuation, but also 66% higher than that for a similar plot in the area sold 2 weeks ago.
The developer plans to build 80 to 90 mid- to large-sized apartments, expecting to complete in 2019.
Units are estimated to be sold for over HKD 16,000 per sq ft of saleable area when they are launched.
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