At a public land auction being held on August 9, 2011, Kerry Properties, Sino Land and Manhattan Group joined together and won the bid for a residential site in Sha Tin. The site fetched HK$5.5 billion, or an accommodation value of HK$5,332 per square feet. The plot is located at Kau To Shan, a traditional luxury residential area in the New Territories. Kerry Properties will lead the project and at least 970 homes have to be built on the site, with a total developable area of 1.03 million square feet.