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October 7, 2026 Kerry Properties Secures Ho Man Tin Site at HK$4.308 Billion The auction result for the government residential site at Fat Kwong Street, Ho Man Tin (Kowloon Inland Lot No 11301) was officially announced on 6 October 2026. A wholly-owned subsidiary of Kerry Properties secured the winning tender at HK$4.308288 billion, translating to an accommodation value of approximately HK$20,738 per square foot. This figure marks a new 5-year high for luxury land premium in the Ho Man Tin district, exceeding the upper end of previous market valuations by nearly 40%.
Site Basic Parameters
The site covers an area of approximately 5,170 square meters (about 55,650 sq ft), with a maximum permitted residential gross floor area of around 19,300 square meters (207,700 sq ft), which is expected to deliver roughly 250 mid-to-high end residential units.
The winning bidder is required to construct a sub-unit of the Neighbourhood Elderly Centre and a sub-unit of the Integrated Community Centre for Mental Wellness free of charge. The floor area of these public facilities will not be counted towards the permitted residential gross floor area. The bidder also needs to independently develop an access lane connecting the main entrance at Fat Kwong Street.
The site is adjacent to established luxury residential estates including The V, Ho Man Tin Park and MTR Ho Man Tin Station. Located in the core luxury district of Kowloon urban area, multiple units on the site can enjoy unobstructed open views.
Subsequent Market Projection
Local surveyors estimates that the completed development will likely achieve a saleable area price close to HK$40,000 per sq ft, positioning it as a new boutique luxury residential project in Ho Man Tin. This acquisition will further consolidate Kerry Properties' leading footprint in Kowloon's core luxury residential market. (Reported by Building.hk)
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