MTR Kam Sheung Road Station Phase 2 Land Premium Exceeds HK$2.37 Billion at HK$1,968 per Sq Ft
SingTao · 1 SOURCESabout 1 hour ago2 MIN
Summary
MTR Corporation has finalized the land premium payment for the Kam Sheung Road Station Phase 2 development project in Yuen Long, with the transaction exceeding HK$2.374 billion at approximately HK$1,968 per square foot. The project, awarded to a consortium comprising Sun Hung Kai Properties, China Overseas Land & Investment, China Merchants Land, and Great Eagle in April this year, represents one of the largest railway property developments in the New Territories. The consortium secured the development rights with the highest "single price" bid and a standardized profit-sharing arrangement of 19% with MTR. With a total gross floor area of about 1.2065 million square feet, the development will deliver 1,290 residential units alongside a substantial commercial mall component.
Key Points
- MTR completed land premium payment of over HK$2.374 billion for Kam Sheung Road Station Phase 2 project in Yuen Long
- Land premium rate of approximately HK$1,968 per square foot based on total gross floor area of about 1.2065 million sq ft
- Project awarded in April to consortium of Sun Hung Kai Properties, China Overseas Land & Investment, China Merchants Land, and Great Eagle
- Consortium won with highest "single price" bid and standardized 19% profit-sharing ratio with MTR
- Development to provide 1,290 residential units with residential gross floor area of about 767,900 sq ft
- Commercial mall component spans approximately 438,600 sq ft of gross floor area
Why It Matters
The Kam Sheung Road Station project establishes a new pricing benchmark for MTR railway property developments, with its land premium rate standing 33% below Sun Hung Kai's recent Tuen Mun South Extension acquisition at HK$2,922 per sq ft . This discrepancy could influence future consortium bidding strategies and government land disposal calculations for railway-connected developments amid evolving market conditions.
The Kam Sheung Road Station project establishes a new pricing benchmark for MTR railway property developments, with its land premium rate standing 33% below Sun Hung Kai's recent Tuen Mun South Extension acquisition at HK$2,922 per sq ft . This discrepancy could influence future consortium bidding strategies and government land disposal calculations for railway-connected developments amid evolving market conditions.