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Cheung Kong, Sun Hung Kai Win Residential Site Tenders in Hong Kong

11/07/2012 | 07:40am US/Eastern
   By Chester Yung 
 

HONG KONG--Hong Kong blue-chip developers Cheung Kong (Holdings) Ltd. (0001.HK) and Sun Hung Kai Properties Ltd. (0016.HK) said Wednesday they have won separate residential site tenders in New Territories.

The site at Sha Tin, with a maximum gross floor area of 52,227 square meters, was awarded to Cheung Kong's unit Crown Treasure Investments Ltd. at 2.901 billion Hong Kong dollars (US$374 million), the Hong Kong government said in a statement.

Another site at Tseung Kwan O, with the maximum gross floor area of 52,339 square meters, was awarded to Sun Hung Kai's unit Hinwood Investment Ltd. at HK$2.545 billion, the statement said.

The two sites can accommodate more than 1,000 residential units, the statement added.

Write to Chester Yung at chester.yung@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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