The tender for a Fanling site has been awarded on a 50-year land grant at a premium of $2.616 billion, the Lands Department announced today.

Lot No 4076 in Demarcation District No 91 at the junction of Fan Kam Road and Castle Peak Road - Kwu Tung was awarded to Wisdom Sign, a subsidiary of Wing Tai Properties.

It has a site area of about 4,400 sq m and is designated for private residential purposes.

The site's minimum and maximum gross floor areas are 15,840 sq m and 26,400 sq m.