Sai Sha Road will be unrecognisable in eight years because of one developer’s rapaciousness. To put it in the vernacular, Sai Sha Road is going to get monstered. The biggest development in our district at present is Mt Pavillia with 680 flats. Ten times that many, roughly, are planned by Sun Hung Kai Properties (SHKP) for its former farmland site opposite Sai Keng.
SHKP Deputy Managing Director Victor Lui Ting said plans are being developed for a project that will be completed in 2026 and details will be announced soon. Initial proposals for Shap Sze Heung call for 4730 flats, 31 blocks of villas, a school, church, sports ground and shopping centre — a whole new town. SHKP paid the Government the highest premium ever to convert the farmland into a housing project, $15.9 billion. The land, opposite Sai Keng on the other side of Sai Sha Road, totals 4.97 million sq ft. The developer said it is a complex project requiring investment of a lot of capital for roads, bridges and sewage. SHKP reported annual revenues last year of HK$78.2 billion and profits for shareholders of $43.37 billion
Shap Sze Heung literally means 14 villages, from Kei Ling Ha Lo Wai to Tai Tung Wo Liu, Tai Tung and Kwun Hang, on the slopes of “Horse Saddle Mountain”.
Around the coast at Double Haven, Ma On Shan, another developer is planning a huge project. Henderson Land paid the Government HK$9.6 billion in premium to convert its land for housing.
SAIKUNG BUZZ reported on a think tank’s suggestions for the whole area – some 100,000 people in 30,000 flats, last month.