Hong Kong residential plot fetches US$230 million as Chinese developer outbids city rivals

South China Morning PostCenter-RightEN 2 min read 100% complete by Cheryl ArcibalFebruary 10, 2026 at 01:34 PM

AI Summary

short article 2 min

China Overseas Land & Investment, a mainland Chinese developer, won a bid for a residential plot in Kowloon East, Hong Kong, on Tuesday. The company secured the 3,132-square-metre site in Ngau Tau Kok with a HK$1.8 billion (US$230 million) bid, exceeding expectations and outbidding eight other developers. The 50-year land grant is expected to yield 470 flats. The location near the Kowloon Bay MTR station and Amoy Gardens was valued between HK$1.3 billion and HK$1.5 billion prior to the tender. Analysts suggest the higher-than-expected bid reflects strong market confidence in acquiring quality urban sites, with the developer likely focusing on small to medium-sized units.

Key Entities & Roles

Key Player Opposition Context

Henderson Land Development 40% China 40% Sun Hung Kai Properties 40% CK Asset Holdings 40% Cyrus Fong 50% Knight Frank 50% Ngau Tau Kok ×260% Lands Department ×260% Kowloon East 70% Hong Kong ×480% China Overseas Land & Investment 90%

Keywords

residential plot 90% hong kong 80% developer 70% land tender 70% china overseas land & investment 60% kowloon east 60% accommodation value 50% housing market 50% property development 40%