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| Above average: Union King (Hong Kong) Limited successfully bid $4 billion for a Government lot in the West Kowloon Reclamation Area. |
A Government lot in the West Kowloon Reclamation Area has been sold to Union King (Hong Kong) Limited for $4 billion at a Lands Department auction today, well above the opening bid of $2.6 billion.
The auction, held at the Cultural Centre, was the first public land auction of the financial year.
The site, at the junction of Hoi Wang Road, Yan Cheung Road and Yan Yau Cheung Road, is designated for non-industrial purposes. It is about 8,060 square metres and a minimum gross floor area of 36,270 square metres must be completed.
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