The Lands Department announced today (August 29) that a site in Sai Kung Town, Area 4, Lot No. 1950 in Demarcation District No. 221, had been successfully triggered for sale under the Application List System and will be disposed of by public tender.
A Lands Department spokesman said that the Government had accepted the applicant's minimum guaranteed bid of $580 million for the lot. The tender invitation for Lot No. 1950 in Demarcation District No. 221 will commence on September 23, 2011, and close on October 21, 2011. The Government does not bind itself to accept the highest or any tender.
Lot No. 1950 in Demarcation District No. 221 has a site area of about 17,940 square metres and is designated for hotel purposes. The minimum gross floor area and the maximum gross floor area are 16,146 square metres and 26,910 square metres respectively.
The final Conditions of Sale for the lot will be available for distribution and uploaded onto the Lands Department's website (www.landsd.gov.hk) by September 23, when the particulars of the tender will also be gazetted.
Ends/Monday, August 29, 2011
Issued at HKT 17:01