A coveted residential site located on Choi Hing Road in Jordan Valley, Kowloon, is currently stirring considerable interest within the development sector. Spanning approximately 3,800 square meters, this plot is poised to support around 570 new housing units. Industry specialists are pointing to its advantageous location, supportive planning guidelines, and recent governmental policy adjustments as key factors drawing in competitive proposals from developers. Even with a stipulation to incorporate social welfare facilities, the site's compact to medium scale is expected to ensure vigorous bidding.
CBRE's Executive Director and Head of Valuation & Advisory Services, Hannah Jeong, underscored the property's potential to attract a diverse array of developers, particularly those focusing on projects of a smaller to moderate size. The site, officially designated as Lot NKIL 6674, is zoned for Residential (A)4, allowing for a domestic plot ratio of 7.5, which could potentially increase to 9.0 for developments that integrate mixed uses. This flexibility in planning parameters enhances its appeal to prospective builders looking to maximize their investment returns.
A notable aspect of the tender requirements is the mandate for developers to allocate a portion of the site for social welfare amenities. While this might slightly reduce the area available for revenue-generating residential units, its impact is largely mitigated by recent policy shifts outlined in the 2025 Policy Address. These changes include relaxed gross floor area exemptions for car parks, which are expected to trim development expenses, accelerate project timelines, and provide greater architectural freedom. Such measures make the overall project more economically viable and attractive.
Furthermore, the presence of public housing nearby and the planned inclusion of welfare facilities are expected to influence the pricing strategies and market positioning adopted by developers. Nonetheless, CBRE analysts emphasize that the site's regular and straightforward shape is conducive to efficient urban planning and economical construction processes. This inherent structural advantage minimizes potential complexities and costs associated with irregular land parcels, further boosting its investment appeal.
The strategic allure of the Choi Hing Road site stems from a combination of its prime location, flexible development potential, and a supportive regulatory environment. These elements collectively render it a highly desirable asset for property developers aiming to capitalize on Hong Kong's robust residential market, particularly within the small to medium-scale project segment.