Market Chatter: Top Hong Kong Developers Bid for Sha Tin Residential Land

MT Newswires Live10-29

Top Hong Kong property companies submitted bids for a government land plot in Sha Tin in the New Territories, the South China Morning Post reported Friday.

The bid invitation closed at noon on Friday, and received a total of six bids, including those from Sun Hung Kai Properties (HKG:0016), Wheelock Properties, Chinachem Group, CK Asset (HKG:1113), and Sino Land (HKG:0083), the report said.

With only six bidders, the tender was said to be "lukewarm" due to high inventories and high construction costs, the report said, citing Colliers research chief Kathy Lee.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $85.45, Change: $-0.35, Percent Change: -0.41%

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