The tender for a Kai Tak site has been awarded on a 50-year land grant at a premium of $12.73 billion, the Lands Department announced today.

New Kowloon Inland Lot No. 6577 at Kai Tak Area 4A Site 1 was awarded to Dragon Star HK Investments, a subsidiary of K Wah International Holdings, Wheelock Properties and China Overseas Land & Investment.

It has a site area of 16,385 sq m and is designated for private residential purposes, a residential care home for the elderly and a child care centre.

The site’s minimum and maximum gross floor areas are 59,969 sq m and 99,948 sq m.