Three lots sold for $5.731 billion

The Lands Department this afternoon (May 12) held the second land auction of the 2011-12 financial year. Three government lots were sold for a total of $5.731 billion.

The first lot, Inland Lot No. 8963 at Stubbs Road, Hong Kong, was sold to Wisecity Development Limited for $4.49 billion. The opening bid was $3.1 billion. The site has an area of about 14,700 square metres and is designated for non-industrial (excluding godown, hotel and petrol filling station) purposes. A minimum gross floor area of 10,080 square metres must be completed. The maximum gross floor area is 16,800 square metres.

The second lot, New Kowloon Inland Lot No. 6498 at Begonia Road, Yau Yat Chuen, Kowloon, was sold to Gain Regent Company Limited for $579 million. The opening bid was $295 million. The site has an area of about 2,810 square metres and is designated for private residential purposes. A minimum gross floor area of 2,050 square metres must be completed. The maximum gross floor area is 3,417 square metres.

The third lot, Lot No. 2086 in Demarcation District No. 105 at Ngau Tam Mei, Yuen Long, was sold to Stanley Investments Limited for $662 million. The opening bid was $295 million. The site has an area of about 23,480 square metres and is designated for private residential purposes. A minimum gross floor area of 5,635 square metres must be completed. The maximum gross floor area is 9,392 square metres.

The auction was conducted at Queen Elizabeth Stadium, Wan Chai, by the Deputy Director of Lands, Mr Graham Ross, who was assisted by the Chief Estate Surveyor, Mr Tony Moyung.


Ends/Thursday, May 12, 2011
Issued at HKT 18:39

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