Hong Kong's Kowloon East land sale attracted nine bids as housing prices bounce back and market mood brightens. The residential site on Choi Ha Road, near Kowloon Bay MTR station and Amoy Gardens, could yield 470 units. Real estate firm CBRE valued the site up to HK$1.55 billion (US$198 million). Major developers like Sun Hung Kai Properties, Henderson Land Development, CK Asset Holdings made individual bids. Sino Land and Great Eagle Holdings teamed up for a joint offer. Eddie Tsui, senior director at CBRE Hong Kong, said, "With comprehensive surrounding amenities, the site has a certain appeal to end-user housing demand." He added, "Amid an improving residential market sentiment, developers are expected to show relatively active interest in the tender." Tsui estimated the land value between HK$1.3 billion and HK$1.55 billion, or about HK$4,400 to HK$5,100 per square foot of accommodation value. Developers are showing strong appetite as the residential market recovers.