****************************************
The Lands Department this afternoon (May 11) held the first land auction of the 2010-2011 financial year. A government lot in Tung Chung was sold for $3.42 billion.
The lot, Tung Chung Town Lot No.37 at Tung Chung Area 55b, Lantau, was sold to First Harvest Development Limited at $3.42 billion. The opening bid was $2.876 billion. Tung Chung Town Lot No.37 has a site area of about 26,200 square metres and is designated for non-industrial (excluding godown, office, hotel and petrol filling station) purposes. A minimum gross floor area of 78,600 square metres for residential purposes must be completed. The maximum gross floor area is 133,620 square metres.
The auction was conducted at the Queen Elizabeth Stadium, Wan Chai, by the Deputy Director of Lands, Mr Graham Ross, who was assisted by the Chief Estate Surveyor, Mr Tony Moyung.
Ends/Tuesday, May 11, 2010
Issued at HKT 16:57
NNNN
