48-level tower on way up

Building has begun on its San Po Kong site, zoned for a 20,250sq m apartment block, 160 carparks and 1950sq m of shops and offices.

Trans Tasman, whose shares are trading for 38c, bought the Kowloon site from the Hong Kong Government last September for $102 million and, in the annual report just released, said it had already started putting up 320 apartments on top of a seven-level podium incorporating parking and shops. The 2250sq m site is at 97 Po Kong Village Rd.

"Construction has commenced and is expected to be completed in mid-2007," it said.

Work will start soon on a second site.

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