Colliers and CBRE appointed as Joint Sole Agents to sell a Residential Site at 93 – 95 Hau Wong Road through Public Tender

Colliers (NASDAQ and TSX : CIGI) and CBRE are pleased to announce they have been appointed as the Joint Sole Agents for the sale of 93 & 95 Hau Wong Road, Kowloon City by way of public tender.

The site area is approximately 3,042 sq. ft., planned for residential (A)2 with a maximum plot ratio of 9 times, allowing for a maximum total gross floor area of about 27,378 sq. ft.. The site has completed leveling work and is ready for immediate development, potentially suitable for a boutique mixed-use residential project.

The site is situated within the 41 school network, surrounded by prestigious schools, including La Salle Primary School, Maryknoll Convent School (Primary Section), and Diocesan Primary School, as well as several international schools. Consequently, properties in this area are highly sought after by buyers.

Additionally, the subject site faces Nga Tsin Wai Road / Carpenter Road Development Scheme [KC-017], a major project by the Urban Renewal Authority (URA). The plan includes a new government complex, an indoor public market, over 2.17 million sq. ft. of residential space, about 270,000 sq. ft. of commercial space, and various green areas. Once completed, it is expected to transform Kowloon City into a vibrant blend of old and new, boosting local business and enhancing residents' quality of life.

Thomas Chak, Head of Capital Market & Investment Services, Colliers | Hong Kong, said: “The project is just a 5-minute walk from the Sung Wong Toi MTR Station of Tuen Ma Line, offering excellent transportation links to various areas in Hong Kong Island and the New Territories. With the Hong Kong government implementing various policies to attract talent and international students, and as the global economy stabilizes, the local real estate investment market is also beginning to rebound, particularly the residential market. This project presents a unique investment opportunity since redevelopment sites in Kowloon City has always been sought after due to its convenient location and the prestigious school net 41. In addition to being opposite to the Urban Renewal Authority's development scheme, it is also near the Kai Tak Development Area, suggesting significant future property appreciation potential in the region.”

Sam Mock, Executive Director of Investment Property & Private Office, Capital Markets at CBRE Hong Kong said: “The subject site is currently levelled and ready for development without the need for additional land premium, making them a rare opportunity in the Kowloon City area. The project is adjacent to Kowloon City Plaza and close to the underground street connected to the Kai Tak Development Area. Additionally, a new government complex and an indoor public market will soon be completed across the street, ensuring a certain quality of life for future residents. New buyers may consider constructing a mixed-use residential and commercial building or developing it as student accommodation to capitalize on the influx of non-local students coming to Hong Kong “

The sale will be by way of public tender, which closes on 18 March 2025 (Tuesday) at 12:00 noon. The market’s estimation on the project is approximately HK$195 million (Accommodation Value: HK$ 7,123 per sq. ft.)

If you would like to know more about this opportunity, you can contact our experts, Thomas Chak (9238 3128)  or Sam Mock, Executive Director of Investment Property & Private Office, Capital Markets at CBRE Hong Kong (9013 3319).