Business Insights | Tender of Residential Site - Tuen Mun Town Lot No. 569 (TMTL 569) at Hoi Chu Road, Tuen Mun

Land Sale Summary

Source: Government

 

"The winning bid of HK$1.089 bil. (approx.HK$3,850 per sq.ft. A.V.), exceeded market expectations. The site’s moderate scale - with potential for over 600 units and future MTR access- offers a compelling development opportunity. The result reflects developers’ growing confidence and hints at stabilising sentiment. While the market remains cautious, this could signal a turning point, with hopes for improved activity. Volume recovery and inventory absorption will remain key priorities for the market moving forward." Hannah Jeong, Executive Director, Head of Valuation & Advisory Services, CBRE Hong Kong

Based on a maximum developable GFA of 26,208 sq m (282,100 sq.ft.), it is anticipated to support approximately 600 residential units. The project's moderate scale, characterized by relatively low development costs, resulted strong interest among developers and stimulate competitive bidding.

Location map of the TMTL 569

Source: MTR website, GeoInfo Map 

Benefiting from its close proximity to the existing Light Rail station, the project also enjoys a strategic location near the future South Tuen Mun Extension (A16 Station), with both the project and the MTR line expected to complete around 2030/31. This alignment enhances the project's long-term accessibility appeal, as the likely walkable distance to the new MTR station is anticipated to be a key draw for potential buyers. 

The private residential project in proximity to the site e.g. Regency Bay (completed in 2021) were transacted in the range of HK$13,000 to HK$23,000 per sq. ft. (since the beginning of 2025), with an average close to HK$17,000 per sq. ft. Considering the existing market trend, we expect the residential prices to pick up gradually, hence sales price may be similar to the current market range upon completion. 

As part of the broader MTR Tuen Mun South Extension project, several key transformations are planned for the area. Among then, the re-provisioning of Tuen Mun Swimming Pool is the most significant. Scheduled for completion in 2026, the upgraded swimming pool will be located to current site of the practice greens of the Tuen Mun Golf Centre, while the practice greens will be relocated to the current site of the Adventure Park. Other enhancements include the reprovisions of the Hoi Wong Road Pet Garden and upgrades of selected footbridges and public toilets. 

Tuen Mun is a modern, predominately residential area that has evolved from a traditional settlement into a new town. According to the 2024 Population Census, the district has a population of around 531,000 residents, with around 31% aged 34 or below. While the area remains popular among local residents—especially in its traditional residential segments—it has experienced limited new development in recent years and lacks a diverse range of community facilities. With the upcoming MTR South Tuen Mun Extension and planned community upgrades, the area is poised for more vibrant and accessible development.

The requirement to construct a public transport terminus with ancillary and public facilities highlight the government's commitment to infrastructure development and enhanced connectivity. While adding to the initial investment, the public transport terminus will improve project accessibility, mitigating the additional costs and contributing to the project's overall appeal.

The residential price indices in Q2 2025 continue to reflect a market undergoing price correction. However, the recent uptick in first-hand sales transaction volume — supported by low interest rates and a buoyant stock market — suggests a shift in sentiment. Developers appear to be regaining confidence, with a more optimistic long-term outlook for Hong Kong’s residential sector.

Source: RVD