The acquisition price underscores an upward trend in Tsuen Wan’s land values, reflecting improved market sentiment.
Insight
Chinachem Group wins a Tseun Wan residential site for HKD2.48 billion
- The 70,127 sq ft site is located in a well-established residential neighborhood in Tsuen Wan.
- The site can yield a maximum GFA of 434,787 sq ft.
- The acquisition price is at least 14% above market expectations.
- Future units are expected to be priced at around HKD 17,000 per sq ft (saleable area).