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West Kowloon lot sold for $4 billion

    The Lands Department this afternoon (May 8) held the first land auction of the 2007-2008 financial year.  A Government lot in West Kowloon Reclamation Area was sold for $4 billion.

     The lot, Kowloon Inland Lot No. 11073, at the junction of Hoi Wang Road, Yan Cheung Road and Yau Cheung Road, was sold to Union King (Hong Kong) Limited for $4 billion. The opening bid was $2.605 billion.   Kowloon Inland Lot No. 11073 has a site area of about 8,060 square metres and is designated for non-industrial (excluding godown, hotel and petrol filling station) purposes.  A minimum gross floor area of 36,270 square metres must be completed.

     The auction was conducted at the Concert Hall of the Hong Kong Cultural Centre, Tsim Sha Tsui by Assistant Director of Lands, Mr Jim Merritt, assisted by Chief Estate Surveyor Mr Tony Moyung.

Ends/Tuesday, May 8, 2007
Issued at HKT 17:22


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