MTR Tuen Mun Site 16 Phase 2 Tender Draws One Bid

MTR Corp's Tuen Mun Area 16 Station Phase 2 property development tender closed at 2:00 PM today with one bid submitted by an unidentified consortium, according to ETNet. The site, on Tuen Mun Town Lot No. 576 beside the Tuen Mun River channel and the under-construction MTR Tuen Mun South Extension Area 16 Station, is planned as a mixed-use project with retail space, community facilities and a public transport interchange. The residential gross floor area cap is 2.69 million square feet, with about 5,510 units expected, while the commercial gross floor area cap is 335,000 square feet. Market estimates put the project value at HK$9.682 billion to HK$12.102 billion, or about HK$3,200 to HK$4,000 per square foot.