Kerry beat seven other bidders for a 50-year grant for the 1,349-square-metre (14,523 sq ft) parcel in the Eastern district, the Lands Department said on Monday.
The plot was expected to provide a total gross floor area of over 130,000 sq ft, yielding around 300 residential units, according to Kerry.
“We are delighted that Kerry Properties has successfully secured the site at Shau Kei Wan Main Street East,” said Calvin Tong, director and general manager for Hong Kong at Kerry Properties.
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How Hong Kong’s housing market became among the world’s most unaffordable
How Hong Kong’s housing market became among the world’s most unaffordable
The site benefits from strong transport connectivity, comprehensive lifestyle facilities and a limited supply of new residential developments in the area, he added.
