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May 22, 2017

New World Development clinched Cheung Sha Wan site

The Lands Department announced on May 10 that the tender for a non-industrial site in Cheung Sha Wan has been awarded to Good Sense Development, a subsidiary of New World Development, on a 50-year land grant for $4.0288 billion.
     New Kowloon Inland Lot No. 6582 on Lai Chi Kok Road near Cheung Shun Street has a site area of 4,171 sq m and is designated for non-industrial purposes excluding residential, godown and petrol station. The minimum and maximum gross floor areas are 30,031 and 50,052 sq m.
     Secretary for Development Eric Ma says the Government is working to boost the supply of Grade A offices in the Central Business District. Speaking to the media on May 17, he said the recent sale of a commercial site on Murray Road at a record price shows the strong market demand for Grade A offices.
     "I think most important, from the Government side, is to continue our work on land sales and land supply in the CBD area."
     The works include the rezoning of Queensway Plaza, developing Central Harbourfront Site 3, and relocating the government offices from Wan Chai to Tseung Kwan O and west Kowloon, he added.




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