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Developers’ enthusiasm for land tenders has shown no signs of easing – a residential site in Hong Kong’s Kwun Tong has attracted stronger than expected interest. But valuers said infrastructure in the region might not be able to support the extra population.
The sale has drawn mainly small developers like Wang On Properties, Chevalier International Holdings and K&K Property
The state-backed developer was beaten by mainland rivals in two recent land bids – but Fu Yuning says it still has faith in local property market
At least 14 developers submitted bids for a government tender to a residential land site in Kai Tak by the closing deadline at midday Friday.
Bulk of the acquisitions made following the fall in share prices with purchases in Chevalier International, Guangdong Investment Limited, Cosmo Lady (China) Holdings, and Sheen Tai Holdings
At least 15 bids from developers have been submitted for a residential site in Kai Tak, the last land tender by the government this year.