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The 50‑year land grant strengthens the group’s non‑industrial portfolio.
The Lands Department awarded the tender for a non‑industrial site in Tsuen Wan to Fast Mighty, a subsidiary of Chinachem Group Holdings, for a premium of $2.475b.
Located at the junction of Wing Shun Street and Texaco Road, the acquisition expands Chinachem’s footprint in Hong Kong’s non‑industrial property market. The site was granted on a 50‑year term.
The land is designated for non‑industrial use, excluding godown, hotel and petrol filling station developments.
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