Hong Kong’s Kerry Properties secures Shau Kei Wan residential plot for US$177 million

South China Morning PostCenter-RightEN 1 min read 100% complete by Cheryl ArcibalFebruary 16, 2026 at 10:00 AM

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Kerry Properties, a Hong Kong-based developer, has secured a residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million). The tender, awarded by the Lands Department on Monday, attracted significant interest from both mainland Chinese and local developers, with Kerry Properties outbidding seven competitors. The 1,349-square-meter parcel, granted for 50 years, is expected to yield over 130,000 sq ft of gross floor area, accommodating approximately 300 residential units. Kerry Properties cited the site's strong transport links, lifestyle amenities, and limited new residential supply in the area as key benefits. The company expressed delight in securing the site for future residential development.

Key Entities & Roles

Key Player Opposition Context

Lands Department 50% Calvin Tong 60% Mainland China 60% Shau Kei Wan ×380% Hong Kong ×485% Kerry Properties ×490%

Keywords

residential plot 90% kerry properties 80% shau kei wan 70% housing market 60% land tender 60% hong kong 50% residential units 50% property development 50% bidding interest 40%