Swire Properties is among the 33 companies to submit a letter of intent for the MTR Siu Ho Wan Depot Development Phase 1 project. According to media reports, the other developers include CK Asset, Henderson Land, Hang Lung Properties, Wheelock, Sun Hung Kai Properties and Sino Land. The MTR Corporation is expected to shortlist developers based on their submissions and invite them to participate in the formal tender. The project covering around 1,400 residential units and 6.74 million sq ft of commercial space is currently valued between HKD3.94 billion and HKD6.56 billion, or HKD3,000 to HKD5,000 per sq ft.