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Two Government sites were sold for a total of $1.74 billion at a public land auction held by the Lands Department this afternoon (May 29).
A Lands Department spokesman said this was the second land auction of the current financial year.
The first lot, Tuen Mun Town Lot No 422 at Tsing Lung Road, Area 58, Siu Lam, with an area of about 15,030 square metres was sold to Evermatch (HK) Limited for $960 million. The opening bid was $585 million. The site is designated for private residential purposes and the developer is required to complete a minimum gross floor area of 11,622 square metres.
The second lot, Tuen Mun Town Lot No 449 at Tsing Fat Lane, Area 58, Siu Lam, with an area of about 17,042 square metres, was sold to Citi-sky Development Limited for $780 million. The opening bid was $525 million. The site is also designated for private residential purposes and the developer is required to complete a minimum gross floor area of 13,293 square metres.
The auction was conducted at the Queen Elizabeth Stadium, Wan Chai by Assistant Director of Lands Mr Simon Yu, assisted by Chief Estate Surveyor, Ms Karen Chan.
Ends/Tuesday, May 29, 2007
Issued at HKT 18:39
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