According to data released by the Lands Department, Swire Properties' successful bid for a site in Wan Chai last month was 15% higher than the second highest bid. The Company won the tender for a site at No. 269 Queen's Road East – currently occupied by the Education Bureau Lui Kee Education Services Centre – at HKD1.962 billion, while the second highest bid was at HKD1.699 billion. The Company beat participating developers, including Henderson Land, Sun Hung Kai Properties, K. Wah International, Sino Land, Wheelock Properties, CK Asset Holdings and Kerry Properties.