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Old Posted Jan 19, 2020, 12:14 AM
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“The [price of] Anderson Road parcel in Kwun Tong really depends on the terms to first-time buyers,” said Cheung. Besides, the planned sale of a commercial plot in Kai Tak is also subject to risk of withdrawal, he added, because of lowballing by bidders in recent tenders in the area.

Last September, the Lands Department withdrew the tender for a commercial site on the runway of the former Kai Tak airport after rejecting all five bids below its reserve price. The parcel was put up for sale after Goldin Financial Holdings forfeited a HK$25 million deposit after winning the tender in June.

James Cheung, an executive director at Centaline Surveyors, said HK$133 billion is more realistic “because one piece of land had to be recalled and other parcels were sold at a price level below expectations” as market sentiment cracked under pressure from protests and US-China trade war.
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