Link REIT has won a government tender to secure a parcel of non-office commercial-use land in Hong Kong’s industrial suburb of Kwun Tong for HK$766m (€97m).
Link REIT said the 5,880sqm site, with a permitted gross floor area of 12,936sqm, would be developed into a community commercial facility.
It is the first non-office commercial site available for sale at the centre of the Anderson Road Quarry Development area in Kwun Tong.
George Hongchoy, Link’s chief executive officer, said: “The land bid demonstrates Link’s long-term commitment to Hong Kong’s development and the support of local people’s daily needs.
“We believe developing the project from scratch allows us to incorporate best-in-class sustainability practices, with a tenant and trade mix optimised to better accommodate shoppers’ evolving needs.”
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