MTR CORPORATION (00066) accepts the HK$10.5 billion land premium offer for Phase 2 of the Tuen Mun Area 16 Station project in Hong Kong, with the land premium fully deductible.

MTR CORPORATION (00066) announces that on 15 September 2026, the Company accepted the Government's land premium offer (amounting to HK$10,504.7 million) for the Tuen Mun Land. The offer was made by the Government on 13 July 2026. The proposed development project will comprise, among other things, residential accommodation, commercial accommodation, government accommodation and car parking spaces, with a total residential gross floor area of not more than approximately 250,000 square metres and a total commercial gross floor area of not more than 31,100 square metres. The Government assessed the land premium at HK$10,504.7 million by reference to the market value of the Tuen Mun Land after taking into account its location along the railway. Under the Project Agreement, the Tuen Mun South Extension Deduction Amount for the Agreement Period may be deducted from the land premium. After deducting the Tuen Mun South Extension Deduction Amount for the Agreement Period, the land premium amount will be fully set off. Tuen Mun Land means Lots B, D and E of Tuen Mun Town Lot No. 576 in Hong Kong. Development Project means the property development project of Phase 2 of Tuen Mun Area 16 Station at the Tuen Mun Land.