The tender for a Tuen Mun site has been awarded on a 50-year land grant at a premium of $3.5 billion, the Lands Department announced today.

Tuen Mun Town Lot No. 518 at Castle Peak Road - Castle Peak Bay, Area 48, was awarded to Ocean Regal Limited, a subsidiary of Kaisa Group Holdings Ltd.

It has a site area of 13,538 sq m and is designated for private residential purposes.

The minimum and maximum gross floor areas are 32,492 sq m and 54,152 sq m.