SINO LAND(HK:00083) Zhi Tong Cai Jing·2025-08-13 13:14Core Viewpoint - The Hong Kong Lands Department has awarded a site in Tuen Mun to Tianheng Limited, a subsidiary of Sun Hung Kai Properties, for HKD 1.089 billion, which is approximately 38% higher than the upper market valuation [1] Summary by Sections Company Insights - Sun Hung Kai Properties' Executive Director expressed satisfaction with the acquisition, highlighting the site's advantageous location and robust transportation network [1] - The project is seen as a valuable addition to the company's land reserves, reflecting confidence in Hong Kong's future [1] Market Context - The site received eight bids, with notable competitors including Cheung Kong (Holdings), Poly Property, K Wah International, and China Overseas [1] - Market estimates for the site's valuation ranged from HKD 420 million to HKD 790 million [1] Development Potential - The site covers approximately 47,000 square feet, with an estimated buildable area of about 282,000 square feet based on a plot ratio of 6 [1] - The development is expected to yield over 500 residential units, primarily targeting small to medium-sized apartments [1]