Sino Land plans to sell 540 apartments, all near the centre of Sai Kung town, in the next two years, according to its latest annual report.
Two sites bought at Government auction have total attributable floor area of 422,929 sq ft. They are the well-known one on Tai Mong Tsai Road, Sha Kok Mei, and another at Hong Tsuen Road, Sai Kung Tuk, behind the Fire Station. The two sites are roughly the same in area — Tai Mong Tsai Road is 166,089 sq ft and Hong Tsuen Road is 173,796 sq ft, the developer says. 270 apartments will be built on each.
Sino Land has yet to release plans and prices for both of them. Both developments will be entirely residential, according to the 2014 annual report.
The company is the publicly listed vehicle of the Sino Group. This is controlled by the Singaporean family of the late Ng Teng Fong. His son, Robert Ng Chee Siong, has control holding 53 per cent in his own right and as executor of his dad’s estate.
Sai Kung is very much a focus for the group. Of Sino Land’s total attributable floor area under development of 1,448,847 sq ft, the two local sites make up 422,929 sq ft.