050927en03010

	news.gov.hk
	From Hong Kong's Information Services Department

September 27, 2005

Property

3 Gov't lots fetch $10.15b

Three Government lots have been sold for $10.15 billion at the first public land auction of the financial year.

The first two sold were the adjacent Kowloon Inland Lots 11168 and 11167 on Hoi Ting Road in west Kowloon.After an opening bid of $2.09 billion, Lot 11168 was sold to Best Profit Limited for $3.19 billion.

The lot has an area of 7,397 square metres and the developer is required to complete a minimum gross floor area of 33,287 square metres by September 30, 2010.

"Going once, going twice": Two adjacent lots on Hoi Wang Road west Kowloon were among the three auctioned.

Lot 11167 was sold to Union Empire for $2.73 billion after an opening bid of $1.66 billion. It has an area of 6,179 square metres, and a minimum gross floor area of 27,806 square metres is required to be completed by the same date.

Both sites are designated for non-industrial purposes, excluding hotel, petrol station and godown.

The third sold was New Kowloon Inland Lot 6350 on Fung Shing Street, Ngau Chi Wan. It went to General Winner Limited for $4.23 billion, after an opening bid of $2.49 billion.

The lot has a site area of 14,459 square metres, and a minimum gross floor area of 43,377 square metres is required to be completed by the same date. The lot is designated for private residences.