Link wins tender for a plot of land for non-commercial commercial use off Anderson Road, Kwun Tong with a land premium of $766 million
The parcel of land will be developed into a community commercial facility serving the growing population of the district
Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT; Hong Kong stock code: 823), is delighted to announce that it has won the tender for the acquisition of a plot of land use at a location off Anderson Road, Kwun Tong, with a land premium of $766 million.
“Rooted in Hong Kong, the land offering demonstrates Link’s long-term commitment to the development of Hong Kong and supporting the daily needs of local people. We believe that developing the project from scratch allows us to incorporate sustainability best practices, with an optimized tenant and commerce mix to better meet the evolving needs of buyers.”
The land has a total area of approximately 5,880 square meters, with a maximum permitted gross floor area of 12,936 square meters. As the first commercial non-commercial site available for sale at the center of the Anderson Road quarry development area in Kwun Tong, Link intends to develop the land into a community commercial facility (including retail, a fresh produce market and car parks) to serve the daily needs of a catchment population are expected to exceed 30,000, as a number of public developments/social housing estates in the neighborhood will be completed in the coming years .
The site will be well served with easy access to public transport via an adjacent interchange. A covered pedestrian walkway and an elevator system, both built by the government, will connect the Sau Mau Ping shopping mall in Link and other residential developments in the Sau Mau Ping district.
About the link
Link Real Estate Investment Trust (Hong Kong stock code: 823), managed by Link Asset Management Limited, is Asia’s largest REIT and one of the world’s leading real estate investors and asset managers. Listed in 2005 as the first REIT in Hong Kong, Link is 100% owned by public and institutional investors and is included in the Hang Seng Index. From his home in Hong Kong, Link owns and manages a diverse portfolio including retail facilities, parking lots, offices and logistics assets spanning Beijing China, the Greater Bay Area (Hong Kong, Guangzhou and Shenzhen) and the Yangtze River Delta centered around Shanghai, London in the UK and Sydney and Melbourne in Australia. Link seeks to extend the growth trajectory of its portfolio and seize opportunities for expansion in different markets in pursuit of its Vision 2025 medium-term goal.
For more details, please visit https://www.linkreit.com.