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MEDIA CENTRE
(Hong Kong, May 14, 2014) Emperor International Holdings Limited (“Emperor International”) (Stock code: 163) today announced that it has won a bid for a luxury residential site in Shouson Hill Road at a consideration of HK$2,708,080,000, by teaming up with a private company under Mr. Hui Wing Mau, Chairman of Shimao Group, and Mingfa Group (International) Company Limited (Stock code: 846).
This site is located at Rural Building Lot No. 1198, junction of Shouson Hill Road West and Wong Chuk Hang Path, with a total site area of approximately 117,000 sq. ft. The permissible floor area is 87,670 sq. ft. with average land cost of HK$30,888 per sq. ft. It is planned to develop into about 20-30 low-density luxury houses with comprehensive auxiliary facilities. The entire project is expected to be completed in 2017.
Mr. Donald Cheung, Executive Director of Emperor International, said, “As a lead project manager, Emperor International appreciates the support of our two partners which contributes to the success of the tender. In line with our strategic focus on residential properties in Hong Kong Island, the land is very precious as it is situated at the traditional luxury residential area. This acquisition will enable the Group to optimise the land bank portfolio with better capital appreciation in the future. It is in close proximity to Aberdeen Tunnel with convenient access to transport links. By taking into the consideration of its growth potential, it will definitely become our signature premium residential project.”
