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Three government lots were sold for a total of $ 1,282 million at a public auction held by the Lands Department this (August 13) afternoon.

One of the lots, Kowloon Inland Lot No. 11110, with an area of about 20,364 square metres, is located at Hung Hom Bay Reclamation, Kowloon. It was sold to Sino China Enterprises Ltd. at $ 1,090 million. The opening bid was 900 million.

The developer has to complete a gross floor area of not less than 64,466 square metres on or before March 31, 2006.

The second one, Lot No. 1184 in Demarcation District No. 217, with an area of about 17,800 square metres, is located at Man Kei Toi, Pak Sha Wan, Sai Kung. It was sold to Mancas Investment Ltd. at $ 148 million. The opening bid was $ 140 million.

The developer has to complete a gross floor area of not less than 6,410 square metres on or before September 30, 2006.

The third one, Lot No. 2052 in Demarcation District No. 121, with an area of about 2,517 square metres, is located off Ping Chuk Lane, Ping Shan, Yuen Long. It was sold to Globaland Development Ltd. at $ 44 million. The opening bid was $ 36 million.

The developer has to complete a gross floor area of not less than 4,017 square metres on or before September 30, 2004.

The lot in Hung Hom Bay Reclamation is designated for non-industrial purposes excluding private residential, godown and petrol filling station. Another lot in Pak Sha Wan is designated for private residential purposes. The third lot in Ping Shan is designated for non-industrial purposes excluding godown, petrol filling station and hotel.

The auction was conducted by the Assistant Director of Lands, Mr Alexander Paton, at the Concert Hall of the Hong Kong Cultural Centre, Tsim Sha Tsui.

Meanwhile, the Lands Department confirmed that the minimum price submitted in an application for a commercial site in the Application List had been accepted.

A spokesman for the Department said that arrangements would be made for the site, Kowloon Inland Lot No. 11103 in Hung Hom, to be sold either by tender or auction in due course.

He added that this had shown that the application system had been working well.

End/Monday, August 13, 2001

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