The tender invitation for Fanling Sheung Shui Town Lot No. 278 at Area 24, Kwu Tung, New Territories, with 82,000 sq.ft and max GFA 492,126 sq.ft will be close on tomorrow (July 23.) Alex Leung , senior director of CHFT, estimated the land valuation at HK$7,600 per sq. ft. He estimated the valuation would be benefited from Kwu Tung MTR station and Area 25, the neighbour land which was acquired by Sun Hung Kai Properties Limited on 27 April 2021 at a price of HK$8.614 million with an accommodation value of HK$7,184 per sq. ft., which was 44% higher than market expectation.
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