UNI-ASIA HOLDINGS has won a bid to develop a commercial site in Hong Kong, as part of a consortium led by First Group Holdings on 13 July 2016.
The site is Lot No. 517 at Tai Lin Pai Road, Kwai Chung, New Territories.
 Michio Tanamoto, executive chairman of Uni-Asia Holdings. NextInsight file photoWith a site area of about 1,208 square meters, the project will have minimum and maximum gross floor areas of 6,885 sqm and 11,474 sqm, respectively.
The developer for the site will be First Lands Development, a company wholly-owned by the consortium.
Uni-Asia has acquired an aggregate effective equity interest of HK$50 million or approximately 11.9% in the project company.
“The property investment business has enhanced the Group’s asset base as well as its asset management business, and effectively stabilised the Group’s financial performance, as the shipping industry experiences a down cycle.
"Property investment is expected to further strengthen the diversified business model of the Group, and contribute to its financial performance and enhance shareholders’ value.”
-- Uni-Asia Holdings
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This will be Uni-Asia's third property project in Hong Kong.
In 2010, the Group invested US$2.2 million in its first property redevelopment project in Kwun Tong, Kowloon East.
The project was completed in 2013, with a gross return of US$6.1 million.
In 2014, the Group invested US$10.4 million into its second Hong Kong property project at 650 Cheung Sha Wan Road, for the development of a commercial office building.
The project is scheduled to be completed by 2017.
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