**************************************************
The Lands Department held the first public land auction of the financial year this afternoon (September 27). Three Government lots were sold for a total of $10.15 billion.
The first two lots sold were the adjacent Kowloon Inland Lot Nos. 11168 and 11167 at Hoi Ting Road and the junction of Hoi Wang Road/Hoi Ting Road, both in the West Kowloon Reclamation Area. Following an opening bid of $2.09 billion, Kowloon Inland Lot No. 11168 was sold to Best Profit Limited for $3.19 billion. The lot has an area of 7 397 square metres and the developer is required to complete a minimum gross floor area of 33 287 square metres by September 30, 2010.
The adjacent Kowloon Inland Lot No. 11167 was sold to Union Empire Limited for $2.73 billion after an opening bid of $1.66 billion. The lot has an area of 6 179 square metres and a minimum gross floor area of 27 806 square metres is required to be completed by September 30, 2010.
Both sites are designated for non-industrial purposes (excluding hotel, petrol filling station and godown).
The third lot was New Kowloon Inland Lot No. 6350, at Fung Shing Street, Ngau Chi Wan, which was sold to General Winner Limited for $4.23 billion. The opening bid was $2.49 billion. The lot has a site area of 14 459 square metres and a minimum gross floor area of 43 377 square metres is required to be completed by September 30, 2010. The lot is designated for private residential purpose.
The auction was conducted at the Concert Hall of the Hong Kong Cultural Centre, Tsim Sha Tsui by Assistant Director of Lands Mr A K Paton, assisted by Chief Estate Surveyor Ms Rita Lai.
Ends/Tuesday, September 27, 2005
Issued at HKT 18:35
NNNN
