HKG:0083

UOB Kay Hian Starts Sino Land at Buy with HK$13.50 Price Target

MTR Awards Tender For Kam Sheung Road Phase 2 Project

MTR (HKG:0066) awarded the tender for the Kam Sheung Road Station Phase 2 project to a consortium made up of Sino Land (HKG:0083), China Overseas Land & Investment (HKG:0688), China Merchants Land (HKG:0978), and Great Eagle (HKG:0041), according to a statement Tuesday.The consortium will be entitled to the future ownership of the commercial portion of the development, MTR said.MTR received eight bids for the project after attracting 31 expressions of interest.The site is reportedly valued at HK$3.62 billion to HK$7.24 billion, or HK$3,000 to HK$6,000 per square foot, and is expected to provide about 1,290 flats across 1.21 million square feet.