CITIC Pacific awarded a residential site in Kwai Chung, Hong Kong

CITIC Pacific has been awarded the tender for a residential site in Kwai Chung’s Lai Kong Street for HK$1.1 billion on November 15th. The land sale attracted nine well-known companies to compete in the bidding including CK Asset Holdings, Sun Hung Kai Properties, Wheelock Properties, Sino Land, K. Wah International and Kerry Properties, with CITIC Pacific standing out at last. The land is in the mid-levels of Kwai Chung in the New Territories, with an open landscape view and area of 41,800 square feet. The maximum gross floor area for a private residential purpose is set at 25,000 square feet. Under the conditions of sale, the purchaser is required to build public transportation and social health facilities.