Tan Ka Wan
Ideal Group, a property developer, has partnered with Sai Kung Country Park land owners to launch the sale of small lots, at a price of more than HK$10,000 per square foot, challenging the most expensive agricultural land in Hong Kong.
Tan Ka Wan
The project covers an area of 480,000 square feet in Tan Ka Wan in Sai Kung East Country Park. It takes about 10 minutes by boat from the Wong Shek Pier.
Map showing the sites bought for the project – some 480,000 sq ft.
The first phase is a batch of 53 plots, the smallest area is about 19 sq ft, costing about $255,000 yuan. Other plots range from 21 to 66 square feet, and the prices range from about $270,000 to $710,000, an the average price of above $10,000 per sq ft. Statistics show that the government is now recovering the land ex-gratia compensation, with the farmland selling at $1,090 per sq ft. The first batch of land will be offered by owners with preferential treatment, including exemption of legal fees and stamp duty, to attract buyers to the market.
The first phase of the development
Ideal Group is hoping to turn the area into a large-scale ecological resort suitable for retreats, holiday gatherings, and cultural conservation. They also point out that the group initially plans to set up a management company to take care of the project, set up 24-hour CCTV in the park, and provide security services. Professional gardeners and florists will take care of the park. The owner of each plot of land needs to pay $80 per month for management. fee.
Artists impression of the development
Ideal Group emphasised that owners of the lots should not violate the land’s green belt use, that is, it can only be used for agriculture, barbecues, picnics, and tent camps.
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