Shun Tak plans to redevelop former shipyard site

Shun Tak Holdings (0242) declared it will team up with Sun Hung Kai Properties (0016) to form a 50/50 joint venture to undertake the main construction contract on the Cheung Sha Wan shipyard redevelopment project. The partners will award the main contract to the JV to construct seven or five residential towers for a total contract value of HK$1.883 bln or HK$1.524 bln respectively.

Related stock : (242)