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HongKong Land Consortium Submits the Highest Bid To Develop Singapore's Business And Financial Centre Site
The BFC site comprises a gross floor area of 438,000 sqm, 60% of which will be office space. The consortium's commitment for the first phase of the development of approximately 158,000 sqm, including option fees, would be in the order of S$765 million (US$450 million) based on the bid price of S$4,101 psm (US$2,413 psm). The land parcel will be sold on a 99-year lease. A formal announcement of the award of the tender is expected to be made by the URA shortly.
Further details of the consortium tender are set out in the attached press release issued on behalf of the consortium.
Hongkong Land is a leading property investment, management and development group with a major portfolio in Hong Kong where it owns and manages some five million sq. ft of prime office and retail space in the heart of the Central business district. Hongkong Land Limited manages these assets and the Group's other property and infrastructure interests in Asia from Hong Kong by providing services to Group companies. Hongkong Land Holdings Limited is incorporated in Bermuda with its primary share listing in London. The Company's shares are also listed in Singapore and Bermuda. Hongkong Land is a member of the Jardine Matheson Group.
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For further information, please contact:
Hongkong Land Limited
Nicholas Sallnow-Smith (852) 2842 8300
GolinHarris
Kennes Young (852) 2501 7987
This and other Group announcements can be accessed through the Internet at €˜www.hkland.com'.